Rikhav Securities Share Price Surges 99.5% from Issue Price on Listing Day

Rikhav Securities IPO opened for subscription on January 15, 2025 and closed on January 17, 2025.

It was a book-built issue of ₹88.82 crore. The issue was a combination of a fresh issue of 83.28 lakh shares aggregating to ₹71.62 crore and an offer for sale of 20 lakh shares aggregating to ₹17.20 crores. The Rikhav Securities IPO price band was set at ₹82 to ₹86 per share.

On Day 3 of subscription, January 17, as of 6:19 PM, Rikhav Securities IPO was subscribed 307 times. QIBs subscribed 170.92x, NIIs subscribed 616.42x, and retail investors subscribed 251.36x.

The share allotment was finalised on January 20, 2025, and the shares were listed on BSE SME on January 22, 2025.

Rikhav Securities Share Price

On the listing day, on the BSE, Rikhav Securities share price opened at ₹163.40, up from its issue price of ₹86.00. On the BSE, at 10:19 AM, Rikhav Securities share price was trading at ₹171.57, up by 5.00% from its opening price of ₹163.40 and 99.50% up from its issue price of ₹86.00. As of the same time, the stock touched its day’s high at ₹171.57. The company’s market cap was ₹656.98 crore.

About Rikhav Securities Limited

Rikhav Securities Limited (RSL), established in 1995, operates in the domains of equity broking, investing, and trading. The company is registered with the Securities and Exchange Board of India (SEBI) as a stockbroker and holds memberships with BSE Limited (BSE), the National Stock Exchange of India (NSE), and the Multi Commodity Exchange (MCX). RSL provides a wide range of financial services, including equity broking for cash delivery, intraday trading, futures, and options. It is actively engaged in trading across various derivative and commodity segments.

The company also facilitates clients’ participation in Initial Public Offerings (IPOs) and offers comprehensive depository services, such as the opening and maintenance of demat accounts. Additionally, RSL acts as a mutual fund advisor and distributor, guiding clients through mutual fund investments and helping them make informed decisions.

RSL is also involved in market-making activities, supporting companies that have recently listed their securities on stock exchanges, thereby contributing to market liquidity and stability.

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