Rikhav Securities made a strong debut on the BSE SME platform with shares listing at ₹163.40, a 90% premium. The stock hit an upper circuit after rising 5%. The IPO was oversubscribed by 307 times, with investor interest fueled by a high Grey Market Premium.
Rikhav Securities, an Indian financial services firm founded in 1995, made an impressive debut on the Bombay Stock Exchange (BSE) SME platform, listing at ₹163.40 per share, marking a 90% premium over its issue price of ₹86. This stellar debut was followed by a 5% increase, with the stock reaching an intraday high of ₹171.57, which also hit the upper circuit limit.
Rikhav Securities’ initial public offering (IPO), which had opened for subscription on January 15, 2025, was oversubscribed by 307 times by the closing date on January 17. The subscription was particularly strong in the non-institutional investor (NII) category, which was subscribed 616.42 times, while the retail category saw a subscription of 251.36 times. The strong investor interest was further confirmed by the Grey Market Premium (GMP), which had peaked at ₹100, indicating expectations of a strong listing.
The IPO raised ₹88.82 crore, comprising a fresh issue of 83.28 lakh shares worth ₹71.62 crore and an offer for sale of 20 lakh shares worth ₹17.20 crore. The company intends to use the funds for working capital requirements, capital expenditure to purchase IT software and equipment, and other corporate purposes.
Rikhav Securities provides a range of financial services, including banking, investment, and brokerage services. The firm has been a key player in the Indian financial sector since its inception in 1995.
The shares’ strong performance today highlights robust demand for the company’s offerings and a favorable market response to its IPO.
