Riddhi Display SME IPO

Listed

BSE SMEOpens 8 December 2025Closes 10 December 2025

Riddhi Display Equipments Limited, established in 2006, designs and manufactures customized solutions for commercial kitchens and bakery setups. Its three main verticals are Display Counters (refrigerated, heated, and…

Live GMP Subscription Allotment

Price band

₹95 - ₹100

Issue size

₹23.45 Cr

Lot size

1,200 shares

Type

BSE SME

GMP

₹1 (+1.0%)

Est. listing

₹101

Est. profit / app

₹2,400

Retail quota

47.16%

Key ratios

As per RHP / filings

Face value

₹10

EPS

6.95

P/E ratio

14.4

RoNW

39.94%

ROE

62.87%

Debt / Equity

1.04

Timeline

IPO Opens
8 Dec 2025
IPO Closes
10 Dec 2025
Allotment
11 Dec 2025
Listing
15 Dec 2025

IPO Opens

8 Dec

IPO Closes

10 Dec

Allotment

11 Dec

Listing

15 Dec

IPO Timeline & Listing Details

Event	Date	Details
IPO Open Date	8 December 2025	Subscription starts
IPO Close Date	10 December 2025	Subscription ends
Allotment Date	11 December 2025	Allotment
Listing Date	15 December 2025	Listing

Investment Categories

Category	Lots	Amount
Individual	2	₹2,40,000
SHNI (Min)	3	₹3,60,000
SHNI (Max)	8	₹9,60,000
BHNIAbove ₹10,00,000	9	₹10,80,000

IPO Reservation Details

Category	Reservation
QIB (Qualified Institutional Buyer)	1.02%
NII (Non-Institutional Investor)	46.82%
Retail	47.16%
Market Maker	5.01%
Total	100.00%

IPO Objectives

Capital expenditure towards interior work and for purchase of new equipment/machineries for setting up of Manufacturing cum assembly Unit at Lucknow, Uttar Pradesh (₹4.97 Cr).
Capital expenditure towards purchase of new equipment/machineries/software etc. for upgradation of existing Manufacturing Unit of the Company located at Gondal, Rajkot (₹3.79 Cr).
Capital expenditure towards setting up of Showroom at Gondal, Rajkot (₹1.43 Cr).
Funding working capital requirements (₹9.74 Cr).
General Corporate Purpose.

Strengths

The company shows Strong Financial Growth, with Revenue increased by 33% and PAT rose by 105% in FY25, demonstrating effective cost management and scalability.
It benefits from Excellent Capital Efficiency, achieving an exceptional RoCE of 58.40% and RoNW of 39.94% in FY25.
The business provides Customized Solutions, offering high-quality display and refrigeration solutions tailored to the diverse needs of the food service and retail industries.
The Strategic Expansion focus is on setting up a new manufacturing unit in Lucknow and a new Showroom using IPO proceeds, indicating focused geographical expansion.
It is supported by Experienced Promoters and a qualified technical team driving innovation and consistent quality delivery.

Weaknesses

The company has a High Debt-to-Equity ratio of 1.04 (FY25), despite the IPO aiming to fund working capital.
It operates as a Small-Scale Operation in a highly competitive industry with numerous organized and unorganized players.
The High Working Capital Requirement (₹9.74 Cr from Fresh Issue) indicates a significant amount of cash is tied up in the business.
The IPO was undersubscribed on Day 2 (0.13x total), which poses a risk to allotment and post-listing performance.
The business faces Revenue concentration risk, despite claiming a diverse client base, with a high reliance on a handful of industries.

Financial Performance

Period Ended	31 Jul 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets (₹ Cr.)	36.63	32.34	19.15	17.01
Revenue (₹ Cr.)	11.23	25.09	18.9	17.54
PAT (₹ Cr.)	2	4.14	2.02	0.21
Net Worth (₹ Cr.)	12.36	10.36	3.21	1.17

Peer Comparison

Company	P/B Ratio	P/E Ratio	RONW (%)	Net Worth (₹ Cr.)

Subscription Details

Daily Bids Status

Category	Day 1	Day 2	Day 3
QIB	1x	1x	2.19x
NII	0x	0.29x	1.92x
S-HNI	0x	0.36x	2.57x
B-HNI	0x	0.26x	1.59x
RII	0.04x	0.8x	7.95x
Total	0.03x	0.55x	4.91x

Overall Subscription Statistics

Category	Shares Offered	Shares Bid	Bid Amount (₹ Cr)
QIB	25,200	55,200	0.55
NII	11,55,600	22,15,200	22.15
Small NII	3,85,200	9,91,200	9.91
Big NII	7,70,400	12,24,000	12.24
RII	11,64,000	92,49,600	92.5
Total	23,44,800	1,15,20,000	115.2

Company Details

Riddhi Display Equipments Ltd.
Plot No.1, Survey No.2/1 P4/P2, National Highway-27 Gondal Highway, Village Bhojpara, Gondal, Rajkot, Gujarat-360311
+91 98250 72799
info@riddhidisplay.com
https://riddhidisplay.com/

Registrar Details

Maashitla Securities Pvt.Ltd.
+91-11-45121795-96
investor.ipo@maashitla.com
https://maashitla.com/allotment-status/public-issues

Frequently Asked Questions

What is the core product line of Riddhi Display Equipments?

Riddhi Display Equipments manufactures and supplies commercial display counters, refrigeration equipment, and kitchen equipment used in restaurants, cafes, supermarkets, bakeries, and hospitals.

When does the Riddhi Display Equipments IPO close for subscription?

The Riddhi Display Equipments SME IPO is currently open for subscription and will close on December 10, 2025.

What are the main objectives of the ₹23.45 Cr Fresh Issue?

The net proceeds are allocated for setting up a new Manufacturing cum assembly Unit at Lucknow (₹4.97 Cr), upgrading the existing unit at Rajkot (₹3.79 Cr), funding working capital (₹9.74 Cr), and opening a new Showroom (₹1.43 Cr).

What is the IPO price band and listing date?

The price band is ₹95.00 to ₹100.00 per share, and the tentative listing date on the BSE SME is December 15, 2025.

What are the key financial strengths of Riddhi Display Equipments?

The company has shown strong growth, with PAT rising by 105% in FY25 and achieving an exceptional RoCE of 58.40% and an EBITDA Margin of 27.68%.

How was the Riddhi Display Equipments IPO subscribed on Day 2?

The IPO was subscribed only 0.13 times overall as of Day 2 (Dec 9, 2025), indicating weak investor demand, with the QIB portion being the only segment fully subscribed.

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Sources

We match Riddhi Display SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

SEBIRules for IPO allotment and disclosures in India
NSEExchange notices, bidding data, and listing updates
BSEExchange notices and IPO allotment check tools
RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
Maashitla Securities Pvt.Ltd.Official site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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