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Rikhav Securities IPO
Price Band
₹82.0–86.0
Issue Size
₹88.82 Cr
Lot Size
1,600 shares
Min Investment
₹137,600
GMP
+₹96.0 (111.63%)
Issue Price
₹86.0
Subject to Sauda
₹116700
Paid only if allotted
Rikhav Securities IPO AI Summary
- Rikhav Securities IPO is listed on BSE SME in the Stockbroking & Allied sector.
- Price band: ₹82.0–₹86.0 per share, lot size 1,600 shares (min. investment ₹137,600).
- Subscription window: 15 Jan–17 Jan 2025, listing on 22 Jan 2025.
- Current GMP is +₹96.0 (111.63%), an estimated listing price of ₹182 — unofficial and can change daily.
Rikhav Securities Limited is set to offer its IPO with an issue price of ₹86, targeting a total issue size of ₹88.82 Cr. The company has shown significant growth in profit over recent periods, although its total income has seen a decline in the latest 9-month figure compared to the previous fiscal year. Investors should consider the company's fundamentals and market conditions before participating.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Rikhav Securities IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 17 Jan 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Rikhav Securities IPO Grey Market Premium (GMP) Today
GMP
+₹96.0
GMP %
+111.63%
Est. Listing
₹182.0
Updated: 25 Jul 2026 14:15
About the Company
Incorporated in 1995, Rikhav Securities Limited is a financial services company in India that offers brokerage, investing, and banking services. The company is registered with SEBI as a stockbroker and holds memberships with BSE Limited (BSE), the National Stock Exchange of India (NSE), and the Multi Commodity Exchange (MCX). The company's services include equity broking, cash delivery, intra-day trading, futures, and options. The company trades in various derivative and commodity segments. As a Self-Clearing Member of the Indian Clearing Corporation and NSE Clearing, the company ensure smooth trade settlements. Rikhav Securities helps clients participate in IPOs and provides depository services for demat accounts. As mutual fund advisors, the company guides clients through their investment options. The company also undertakes market-making activities. Competitive Strength Long term relationship with the clients An integrated financial services platform Experienced management team with proven execution capabilities As of September 30, 2024, the company has about 394 employees managing daily operations and administrative, legal, and accounting functions.
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 337.91 | 302.07 | 187.72 | 180.71 |
| Total Income | 96.16 | 111.34 | 54.52 | 42.98 |
| Profit After Tax | 50.37 | 42.65 | 19.10 | 17.62 |
| NET Worth | 188.45 | 138.08 | 94.96 | 75.86 |
| Reserves and Surplus | 173.47 | 123.10 | 79.98 | 70.87 |
| Total Borrowing | 25.98 | 48.06 | 9.94 | 15.06 |
Key Ratios
EPS
₹14.23
NAV
₹46.08
ROE
36.60%
ROCE
29.48%
RoNW
30.89%
P/B Value
1.87
P/E Ratio
6.04
Market Cap
₹329.31 Cr
PAT Margin
40.94%
Debt/Equity
0.35
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Pune E - Stock Broking Ltd | 81.33 | 9.77% | 16.68 | 11.04 | 11.04 |
| Share India Securities Ltd | 91.23 | 24.37% | 13.96 | 25.41 | 21.83 |
| Angel One Limited | 361.7 | 37.04% | 20.94 | 134.21 | 131.81 |
| Alacrity Securities Ltd | 21.37 | 25.42% | 29.09 | 5.43 | 5.43 |
| Rikhav Securities Limited This IPO | 46.08 | 30.89% | — | 14.23 | 14.23 |
Promoters
Hitesh Himatlal Lakhani, Rajendra N Shah, Bharti Hitesh Lakhani, Vaishali R Shah, Deep Hitesh Lakhani, Monil Rajendra Shah and Hitesh Himatlal Lakhani (HUF)
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding incremental working capital requirements 46.00 2 Funding of capital expenditure requirements of Company towards purchase of IT Software, Computers and Laptops 4.13 3 General Corporate Purposes 12.76 4 Issue expenses 8.73 Total 71.62
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹54.52 Cr in the year ended 31 Mar 2023, rising to ₹111.34 Cr by 31 Mar 2024, but then decreased to ₹96.16 Cr as of 30 Sep 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹19.10 Cr in the year ended 31 Mar 2023, increasing to ₹42.65 Cr by 31 Mar 2024, and further rising to ₹50.37 Cr as of 30 Sep 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Rikhav Securities has an implied P/E ratio of 6.04 at the issue price, compared to peers trading at P/E ratios ranging from 13.96 to 29.09.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing day gain of an IPO based on unofficial trading. A positive GMP suggests that the stock may list at a higher price than its issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as market conditions and the company's growth potential.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies may consider avoiding IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on January 15, 2025, and closes on January 17, 2025. Allotment of shares will be finalized by January 20, 2025, and the shares are expected to be listed on January 22, 2025.
Listing Gains — The Risk
Listing gains are not guaranteed and can vary based on market conditions. Investors should be aware that the stock may not perform as expected on its debut, and it is advisable to consider the company's fundamentals and market sentiment.
This evaluation is generated from Rikhav Securities's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Rikhav Securities IPO GMP today?
Rikhav Securities IPO GMP today is +₹96.0 (111.63%), indicating an estimated listing price of ₹182. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Rikhav Securities IPO?
The price band of Rikhav Securities IPO is ₹82.0–₹86.0 per share.
When does Rikhav Securities IPO open and close?
Rikhav Securities IPO opens on 15 January 2025 and closes on 17 January 2025.
When does Rikhav Securities IPO list on the stock exchange?
Rikhav Securities IPO listed on 22 January 2025 at ₹182.0.
What is the lot size for Rikhav Securities IPO?
The lot size for Rikhav Securities IPO is 1600 shares, requiring a minimum investment of ₹137,600.
What is the price band for the IPO?
The price band for the IPO is ₹82 to ₹86.
What is the minimum investment required?
The minimum investment required is ₹137,600.
What is the lot size for this IPO?
The lot size for this IPO is 1,600 shares.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing day gain of an IPO.
When is the listing date for the IPO?
The listing date for the IPO is January 22, 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
15 Jan 2025
Close
17 Jan 2025
Allotment
20 Jan 2025
Listing
22 Jan 2025
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