Rikhav Securities shares list with stellar 90% premium at ₹163.40 on the BSE SME: Hits another 5% upper circuit

Rikhav Securities shares listed with stellar 90% premium at ₹163.40 on the BSE SME on Wednesday marking a very strong debut. The subscription response received by the issue and the Grey Market Premium had indicated toward good listing gains for investors

Rikhav Securities share price movement

The Rikhav Securities share price gained 5% further to hit intraday highs of ₹171.57 post listing. The intraday high also was the upper price band for the Rikhav Securities share price and hence the stock was locked in the upper circuit post listing

Strong investor interest

Rikhav Securities IPO that had opened for subscription on 15 January had been subscribed 307 times by the end of subscription date i.e 17 January 2025.. The public issue subscribed 251.36 times in the retail category, 170.92 times in QIB, and 616.42 times in the NII category

Rikhav Securities IPO GMP or Grey Market Premium that had stood at +100 also had indicated stong investor expectations . This means that shares of Rikhav Securities were being traded in the grey market at a premium of ₹100 over the issue price. This also meant that investors were expecting listing of Rikhav Securities shares at ₹186, which was 118.26% premium over the upper price band of the issue price at ₹86.

About the issue

Rikhav Securiies IPO was a book built issue of ₹88.82 crores and was a combination of fresh issue of 83.28 lakh shares aggregating to ₹71.62 crores and offer for sale of 20.00 lakh shares aggregating to ₹17.20 crores.

The Rikhav Securities intended to use the proceeds from the fresh issue of shares towards Funding the incremental working capital requirements, Funding of capital expenditure requirements of the company towards the purchase of IT Software, Computers and Laptop and for General corporate purposes

Rikhav Securities Limited is an Indian financial services firm that was founded in 1995 and provides banking, investing, and brokerage services.

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