Riddhi Display Equipments IPO

About Riddhi Display Equipments IPO

The offer consists of a fresh issue component. The fresh issue will include 24,68,400 shares (aggregating up to ₹24.68 crore). The total number of shares is 24,68,400 shares and the aggregate amount is ₹24.68 crore.

The Riddhi Display Equipments IPO opens on Monday, Dec 8, 2025 and closes on Wednesday, Dec 10, 2025. The tentative allotment of shares will take place on Thursday, Dec 11, 2025. The credit of shares to the demat account will take place on Friday, Dec 12, 2025. The initiation of refunds will take place on Friday, Dec 12, 2025. The tentative listing of shares will take place on Monday, Dec 15, 2025.

Riddhi Display Equipments price band is set at ₹95 to ₹100 per share per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,40,000.00 (2,400 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (3,600 shares), amounting to ₹3,60,000.

Riddhi Display Equipments specialises in providing high-quality display equipment, commercial kitchen equipment, and commercial refrigeration equipment. They cater to various businesses like hotels, hospitals, cafes, sweet shops, bakery shops, food courts, malls, restaurants and various other industries which require display equipment, commercial kitchen equipment and commercial refrigeration equipment. The manufacturing facility of their company is located at Gondal, Gujarat. Their manufacturing facilities are equipped with the requisite infrastructure, enabling them to manufacture high-quality products in a cost-efficient manner so as to align with the requirements of the customers. Their production operations at their manufacturing facilities are managed by a team of skilled, qualified technical staff with the requisite technical knowledge.

Objective of Riddhi Display Equipments IPO

• Capital expenditure for interior work and the purchase of new equipment/machinery for setting up a manufacturing unit in Lucknow, Uttar Pradesh.
• Capital expenditure for the purchase of new equipment/machinery/software, etc., for the upgradation of the existing manufacturing unit of the company located in Gondal, Rajkot.
• Capital expenditure for setting up a showroom in Gondal, Rajkot.
• Funding for working capital requirements.
• General corporate purposes.

Industry Outlook

The capital goods sector contributes 12% to India’s manufacturing output and 1.8% to its GDP. The market valuation of the capital goods industry was US$ 4,320 crores in FY22. The market size in India is expected to increase from US$ 5,298 crores in 2022 to US$ 12,500 crores by 2027, implying a robust CAGR of 11.68%.

Riddhi Display Equipments Company Information

Riddhi Display Equipments is primarily engaged in creating innovative and tailor-made solutions for commercial kitchen and bakery setup requirements. Their company offers customised display equipment for Sweet, Bakery, Namkeen, Fast-food, Chat, Dry Fruit, Snacks, Panipuri (Gol Gappa), Sweet Corn, Ice-cream and Shrikhand. The products manufactured by them are supplied to Restaurants, Food Courts, Cafés, Retail Shops, Super Markets, Ice Cream Parlours, Cake & Pastry Shops, etc.

They customise their equipment to suit the specific needs of their clients; they design tailor-made layouts that can ideally co-exist with the clients’ specific demands and other variables such as space. They provide solutions to their clients with prime focus on client requirement, equipment design, shape, pattern, space planning, internal temperature maintenance or external sturdiness of the equipment. The equipment provided by them is available in different temperature variants, i.e. refrigerated, heated and ambient display equipment. Further, their kitchen equipment range includes burner range, bain-marie, dish trolley, masala trolley, sink table, storage rack and work table.

Broadly, the products manufactured by their company can be classified under the following business verticals: Display Counters, Commercial Kitchen Equipment, and Commercial Refrigeration Equipment.

Strengths of Riddhi Display Equipments

• Experienced promoters and a qualified technical team.
• Consistent delivery of quality products.
• Providing customised solutions with a focus on after-sales service.
• Well-established manufacturing facilities.
• Catering to clients from diverse sectors and industries.

Risks of Riddhi Display Equipments

• The loss of any one or more of their major clients.
• Any adverse developments affecting their operations in Gujarat, where their business is concentrated.
• Failure to adapt to technological advancements, shifting market conditions, or evolving customer demands and requirements, or an inability to identify and respond to changing industry trends and develop new products that meet these needs.
• Any delay in placing orders/ procurement of machinery.
• Foreign currency exchange rate fluctuations.

Notes: a) The Company’s Financial Figures are based on restated standalone audited financial statements for the period ended on July 31, 2025 unless provided otherwise. With respect to Industry peers, all the financial information mentioned above is on a standalone basis and is sourced from the audited results of the respective companies for the year ended March 31, 2025 unless provided otherwise.

b) P/E Ratio has been computed based on the closing market price of equity shares on NSE on September 17, 2025 divided by the Basic EPS as at March 31, 2025.

c) Return on Net Worth (%) = net profit after tax divided by net worth. Net worth has been computed as the aggregate of share capital and reserves and surplus/Other Equity as on March 31, 2025.

d) NAV is computed as NAV is computed as the closing net worth as on March 31, 2025 divided by the outstanding number of equity shares as on March 31, 2025.

e) The Price Band determined by our Company in consultation with the Book Running Lead Manager is justified by our Company in consultation with the Book Running Lead Manager on the basis of the above parameters.

f) The peer group company is not exactly comparable in all aspects of business and services that our 126 Company provides. For further details, see section titled Risk Factors beginning on page 32 and the financials of the Company including profitability and return ratios, as set out in the section titled Auditors Report and Financial Information of Our Company beginning on page 217 of this Red Herring Prospectus for a more informed view.

Anchor Investor Bidding Date: 5th Dec 2025

Registrar: Maashitla Securities Private Limited
Book Running Lead Managers: Jawa Capital Services Private Limited

Riddhi Display Equipments Business Model

The company earns its revenue through the manufacturing and supply of display counters, kitchen equipment, and refrigeration equipment.

Riddhi Display Equipments Company Growth Trajectory

The total revenue of the company is ₹25.09 crore for the year ended on 31 March 2025, while the total revenue for the year ended 31 March 2024 stood at ₹18.90 crore. There is a 32.73% increase in the revenue during the FY ended March 2025, as compared to FY 2024.

Their revenue from operations increased to ₹25.03 crore for the year ended on 31 March 2025, as compared to ₹18.86 crore for the year ended on 31 March 2024. The increase in the operating revenue is primarily due to an increase in export business by 481%. The export turnover increased due to efforts made by the company in FY 2024 and FY 2025 by participating in exhibitions and gaining the certification and recognition which made the company a preferred choice for overseas customers.

The Profit After Tax (PAT) is ₹4.14 crore at 16.50% of total income during the year ended 31 March 2025, whereas during the year ended 31 March 2024, profit after tax was ₹2.02 crore at 10.67% of total income.

Riddhi Display Equipments Market Position

Riddhi Display Equipments caters to customers both within India and outside India. In the domestic market, they earn the majority of their revenue from their customers located in Gujarat. Internationally, they have served customers in Dubai, Nepal, Australia, and the USA through direct sales; apart from the above, they also undertake sales to overseas markets through merchant exporters. Although their export market is still in its nascent stage, they further propose to expand their presence in overseas markets as well.

As on 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹25.089 crores, ₹4.139 crores, and ₹6.929 crores, respectively.

How to apply for the Riddhi Display Equipments IPO?

• Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.