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 IPO opens on Sep 24, 2025 and closes on Sep 26, 2025. The tentative listing date is Oct 1, 2025. The allotment date is Sep 29, 2025. The initiation of refunds will take place on Sep 30, 2025. The credit of shares to the demat account will take place on Sep 30, 2025.

Riddhi Display Equipments Limited 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%.

Company Information

Riddhi Display Equipments Limited 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 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 IPO

• 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 IPO

• 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: The anchor investor bidding date is Sep 23, 2025.

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

Business Model

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

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.

Their other income increased to ₹0.06 crore for the year ended on 31 March 2025, as compared to ₹0.03 crore for the year ended on 31 March 2024. It is due to an increase in the duty drawback claim on export business received and an increase in revenue.

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.

Company Market Position

Riddhi Display Equipments Limited 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 check the allotment status of Riddhi Display Equipments IPO?

1. Visit the Registrar's Website

To check the IPO allotment status for Riddhi Display Equipments Limited IPO, visit the official website of Maashitla Securities Private Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the ‘Submit’ button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.

On the BSE IPO page, follow these steps

• Select 'Equity' from the dropdown menu
  
• Choose 'Riddhi Display Equipments Limited' in the next dropdown
  
• Enter your application number
  
• Enter your PAN
  
• Click 'Search'
  

Your Riddhi Display Equipments Limited IPO allotment status will be displayed.

3. Verify on the National Stock Exchange Website

The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check Riddhi Display Equipments Limited IPO allotment status.

Go to the NSE website and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO Bid Verification page, enter:

• Application number
  
• PAN
  

Then click 'Submit'. Your Riddhi Display Equipments Limited IPO bid and allotment details will be displayed.

How to apply for the Riddhi Display Equipments Limited 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.