IPO Key Dates
| Anchor Investor Subscription | |
| IPO opens on | 24 Sept. 2025 |
| IPO Closes on | 26 Sept. 2025 |
| Allotment on | 29 Sept, 2025 |
| Credit of shares on | 30 Sept. 2025 |
| Tentative Listing on | 1 Oct 2025 |
| Registered office |
| Riddhi Display Equipments Ltd. Plot No.1, Survey No.2/1 P4/P2, National Highway-27 Gondal Highway, Village Bhojpara, Gondal Rajkot, Gujarat, 360311 |
| Email info@riddhidisplay.com |
| Lead Manager of the IPO |
| Jawa Capital Services Pvt ltd |
| Registrar to the IPO |
| Maashitla Securities Pvt ltd |
Business:
Incorporated in 2006, Riddhi Display Equipments Ltd. manufactures display counters, commercial kitchen lines and commercial refrigeration units.
Core markets span retail/QSRs/supermarkets, hotels, hospitals and exhibition/advertising setups.
Portfolio: display counters (hot/cold, bakery, confectionery), kitchen equipment, and commercial refrigeration.
The Gondal (Gujarat) plant is geared for high-volume, cost-efficient production with in-house fabrication and assembly.
Skilled technical engineers drive process optimisation, higher yields and strict quality control.
Focus on durable, ready-to-install solutions with service support across India.
IPO Details
| IPO opens on | 24 September 2025 |
| IPO closes on | 26 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 24,68,400 Shares / Rs 24.68 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 123,600 Shares |
| Net offer to Public | 23,44,800 Shares Rs. 23.45 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 95-100 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | BSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
How shares can be applied?
| Application | Shares | Amount |
| Retail (Min) | 2,400 | ₹2,40,000 |
| Retail (Max) | 2,400 | ₹2,40,000 |
| S-HNI (Min) | 3,600 | ₹3,60,000 |
| S-HNI (Max) | 9,600 | ₹9,60,000 |
| B-HNI (Min) | 10,800 | ₹10,80,000 |
The Promoters
The promoters hold 99.99% of the pre-IPO capital
The Objects of the IPO
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
| Objects | Rs. |
| Capital expenditure towards interior work and for purchase of new equipment/machineries for setting up of Manufacturing cum assembly Unit at Lucknow, Uttar Pradesh | 49.65 |
| Capital expenditure towards purchase of new equipment/machineries/softw are etc. for upgradation of existing Manufacturing Unit of the Company located at Gondal, Rajkot | 37.91 |
| Capital expenditure towards setting up of Showroom at Gondal, Rajkot | 14.27 |
| Funding working capital requirements | 97.37 |
| General Corporate Purpose |
Financials Snapshot
| Period Ended | 31-Jul-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 36.63 | 32.34 | 19.15 | 17.01 |
| Total Income | 11.23 | 25.09 | 18.9 | 17.54 |
| Profit After Tax | 2 | 4.14 | 2.02 | 0.21 |
| EBITDA | 3.19 | 6.93 | 3.77 | 1.08 |
| NET Worth | 12.36 | 10.36 | 3.21 | 1.17 |
| Reserves and Surplus | 6.19 | 4.19 | 2.93 | 0.91 |
| Amount in Rs Crore | ||||
Peer Comparison:
| Company Name | P/E (x) | RoNW (%) |
| Riddhi Display Equipments Limited | 16.18 | |
| Ice Make Refrigeration Limited | 52.21 | 18.09 |
Key Financial Indicators
| KPI | Values |
| ROE | 62.87% |
| ROCE | 58.40% |
| Debt/Equity | 1.04 |
| RoNW | 39.94% |
| PAT Margin | 16.53% |
| EBITDA Margin | 27.68% |
| Price to Book Value | 17.42 |
| EPS | 6.71 |
| PER | 14.91 |
IPO Concise Review
Riddhi Display Equipments – Quick Review (Price: Rs. 100)
• Strong momentum: Total income rose from Rs. 17.54 cr (FY23) → Rs. 18.90 cr (FY24) → Rs. 25.09 cr (FY25); PAT jumped to Rs. 4.14 cr.
• Margin expansion: FY25 EBITDA ~27.6% and PAT ~16.5% (vs ~6.2% / ~1.2% in FY23), indicating better mix and operating leverage.
• FY26 run-rate positive: Apr–Jul’25 income Rs. 11.23 cr, PAT Rs. 2.00 cr; margins holding healthy.
• Balance sheet firmer: Net worth up to Rs. 12.36 cr (Jul’25); asset base Rs. 36.63 cr—watch working-capital/capex needs.
• Business backed by diversified portfolio (display counters, kitchen & refrigeration) and Gondal capacity.
• View: Apply for listing gains; long-term hold only if order visibility sustains and WC discipline remains tight.
Quicklinks
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