Rikhav Securities IPO allotment on January 20: Steps to check status on BSE, Link Intime India

Financial services provider Rikhav Securities Ltd is expected to finalise the IPO share allotment status on Monday, January 20.

The ₹88.82-crore initial public offering (IPO) was booked more than 300 times on the BSE SME platform. The investors are keenly awaiting the finalisation of the IPO share allocation after the end of the subscription period.

The BSE SME IPO was open for subscription from January 15 to January 17. Investors responded strongly, and the issue was fully booked within hours of launch on the first day.

At the close of subscription on Friday, the public offer attracted applications for more than 211 crore shares, worth ₹18,173 crore, against the net offer size of 68.83 lakh shares, resulting in a 307-time oversubscription.

The retail portion was booked over 251 times, with bids for 86.66 crore shares against 34.48 lakh shares set aside for them. The Non-institutional Investors’ (NIIs) segment was subscribed more than 600 times. The NIIs placed bids for over 91 crore shares against the allocation of 14.8 lakh shares.

The Qualified Institutional Buyers (QIBs) quota was subscribed nearly 171 times. The QIBs placed bids for 33.41 crore shares against 19.55 lakh shares on offer.

The company, in the pre-bid round on January 14, raised ₹25.11 crore from anchor investors. The company allotted 29.2 lakh shares at a price of ₹86 per share.

IPO investors can check the share allotment status on the websites of IPO registrar Link Intime India Private Ltd and BSE.

Steps to check Rikhav Securities Ltd IPO share allotment on IPO registrar website

• Go to Link Intime India Pvt Ltd website https://www.linkintime.co.in/
• Click on ‘Investor Services’ on the main men and select ‘Public Issues’
• Select Rikhav Securities Ltd from the dropdown list for company names
• Enter either your application number, PAN, DP/Client ID or Account No/IFSC
• Submit to check allotment status

How to check Rikhav Securities IPO share allotment on BSE

• Go to the BSE IPO allotment page: https://www.bseindia.com/investors/appli_check.aspx
• Click on ‘Check Status’ link
• Select ‘equity’ as the issue type
• Choose Rikhav Securities from the dropdown list for issue names
• Enter PAN details or application number
• Complete the Captcha verification
• Submit to check share allotment status

Rikhav Securities IPO details

• The Rikhav Securities IPO comprised a fresh issue of 83.28 lakh shares and an offer-for-sale (OFS) of 20 lakh shares, worth up to ₹17.2 crore.
• The IPO price band was fixed at ₹82 to ₹86 per share.
• For the retail investors, the lot size was 1,600 shares, amounting to an investment of ₹1,37,600.
• The company will initiate refunds and transfer of shares to the Demat accounts on January 21.
• Shares of Rikhav Securities Ltd are scheduled to make trading debut on the BSE SME platform on January 22.

Rikhav Securities IPO objective

Rikhav Securities offers financial services related to brokerage, proprietary investment services, and banking. It also provides facilities like broking, intra-day trading, cash delivery, futures, and options. It is involved in trading across various derivative and commodity segments.

The company is registered with SEBI as a stock broker. It holds memberships with BSE, NSE and the Multi Commodity Exchange (MCX).

The company has proposed using the IPO proceeds to meet the capital expenditure requirements for purchasing IT Software, computers, and laptops. It will also use the proceeds to fund working capital needs.

According to the RHP, the company will spend ₹4.12 crore of IPO proceeds on IT Software, computers, and laptops. It proposes to utilise ₹46 crore of the Net Proceeds in Fiscal 2024-25 and Fiscal 2025-26, respectively, towards its working capital requirement. The proceeds from the OFS components will go to selling shareholders.

Rikhav Securities financials

Key performance indicators (as of March 31, 2024)