Rikhav Securities Ltd, a financial services company, is launching its Initial Public Offering (IPO) on the BSE SME platform. Here are the key details:

IPO Details:

• Issue Period: January 15 to January 17, 2025.
• Issue Size: ₹88.82 crore, comprising a fresh issue of ₹71.62 crore and an offer for sale (OFS) of ₹17.20 crore.
• Price Band: ₹82 to ₹86 per equity share.
• Lot Size: 1,600 shares, requiring a minimum investment of ₹137,600.
• Listing Date: Expected on January 22, 2025, on the BSE SME platform

Subscription Details:

As of January 11, 2025, the IPO was subscribed 0.00 times, with no bids received.

Company Overview:

Rikhav Securities Ltd is a trading member of BSE, NSE, and MCX, registered with SEBI. The company offers services such as equity intraday, delivery, and futures & options trading, along with depository services and mutual fund distribution. Additionally, it serves as a market maker for recently listed companies, providing two-way market making arrangements to enhance liquidity.

Financial Highlights:

• Revenue (FY 2024): ₹11.13 crore.
• Profit After Tax (FY 2024): ₹4.26 crore.

Utilization of Funds:

Proceeds from the IPO are planned for:

• Funding Incremental Working Capital Requirements.
• Capital Expenditure for IT Software, Computers, and Laptops.
• General Corporate Purposes.

For more detailed information, you may refer to the official prospectus and financial reports of Rikhav Securities Ltd.