The category reserved for retail investors was subscribed 1.82 times, and that of non-institutional investors was subscribed 2.25 times. However, the demand was muted from qualified institutional buyers with just 1% subscription so far on Day 2.
Analysts advised investors to subscribe to the issue for the long term as the company is backed by strong manufacturing capabilities, diverse product portfolio and solid financials.
Incorporated in 1982, Rishabh Instruments is engaged in the business of manufacturing, design, and development of test and measuring instruments and industrial control products.