Rishabh Instruments’ IPO on Aug 30

New Delhi: Global energy efficiency solution company Rishabh Instruments Ltd on Friday said it has fixed a price band of Rs418-441 per share for its Rs491-crore initial public offering (IPO).

The maiden public issue will open for subscription on August 30 and close on September 1, the company announced. The IPO comprises a fresh issue of equity shares aggregating up to Rs75 crore and an offer for sale (OFS) for up to 94.3 lakh equity shares by its promoter group shareholders and an existing investor, according to its draft red herring prospectus (DRHP).