Riddhi Display Equipments's ₹25 crore IPO opens today
Riddhi Display Equipments, known for its custom display counters and refrigeration equipment, is opening its IPO from September 24 to 26.
The company wants to raise ₹25 crore by offering shares at ₹95-100 each.
Issue details, listing
There are 24.68 lakh new shares up for grabs—1.23 lakh set aside for market makers, with the rest split between qualified institutional buyers (1.02%), non-institutional investors (46.82%), and retail investors (47.16%).
Riddhi aims to list on BSE SME by October 1, targeting a market cap of ₹86.4 crore at the top price.
What does the company do?
Based in Gondal, Gujarat, Riddhi makes customized display counters and commercial kitchen gear used by restaurants, cafes, supermarkets, hotels, hospitals—you name it.
Strong financial performance in FY25
In FY25, revenue jumped 33% to ₹25.1 crore; profit after tax more than doubled from last year's ₹2 crore to ₹4.1 crore; EBITDA also nearly doubled.
The IPO funds will help set up a new unit in Lucknow, upgrade the Gondal plant, open a Rajkot showroom, and cover working capital needs.