Riddhi Display Equipments IPO Opens Today: Key Dates, Financials, Strengths and Risks

Rajkot, September 24, 2025: Riddhi Display Equipments Limited has launched its Initial Public Issue (IPO) with a listing on the BSE SME platform. The issue opens on September 24, 2025. It closes on September 26, 2025. It consists of a ₹24 crore 100% fresh issue of 24.68 lakh equity shares at a price band of ₹95–₹100 per share with a lot size of 1,200 shares. Listing of shares has been proposed on October 1, 2025.

Established in the year 2006 and headquartered at Rajkot, Riddhi Display Equipments Limited designs and manufactures customized display counters, commercial cooking ranges, and cold chain and refrigeration systems for food and beverage companies. Riddhi Display Equipments Limited has been promoted by Shaileshbhai Ratibhai Pipaliya, Hansaben Shaileshbhai Pipaliya, and Jay Shaileshkumar Pipaliya, and all of them together own more than 99%.

Riddhi Display Equipments IPO Key Facts

Riddhi Display Equipments Ltd will open its ₹24 crore Initial Public Issue (IPO) for subscription from September 24, 2025. The issue will continue until September 26, 2025. Riddhi Display Equipments IPO is priced in the range of ₹95–₹100 per share with a lot size of 1,200 shares, i.e., a minimum of ₹1.14 lakh and ₹1.20 lakh per lot.

Allotment of the shares is proposed to take place on September 29, 2025. Thereafter, refunds and crediting of the shares into the demat accounts of investors will commence from September 30, 2025. Listing of the company’s shares on the stock exchange will also take place on October 1, 2025.

The issue has been handled by Jawa Capital Services Pvt. Ltd as lead manager and Maashitla Securities Pvt. Ltd as the registrar. Aftertrade Broking Pvt. Ltd. has been confirmed as Riddhi Display Equipments IPO market maker.

Riddhi Display Equipments IPO Financial Highlights (Restated)

Riddhi Display Equipments has shown healthy operating and financial growth during the past three years of operations with initial indicators of FY26 sustaining the similar momentum.

• Total Revenue proceeded steadily from ₹1,754.10 lakh during FY23 to ₹2,508.87 lakh during FY25. From April to July of FY26, revenue of ₹1,123.21 lakh has been posted by the company.
• Profit After Tax (PAT) rose drastically to ₹413.88 lakh in FY25 from ₹201.60 lakh in FY24 and ₹20.65 lakh in FY23. For Apr–Jul FY26, PAT stood at ₹200.04 lakh.
• Earnings Per Share (EPS) rose proportionately with profitability and reached ₹6.84 in FY25 from ₹3.43 in FY24 and ₹0.35 in FY23. EPS from the first four months of FY26 amounted to ₹3.24.
• Net Worth improved drastically, increasing from ₹135.93 lakh at the end of FY23 to ₹1,036.17 lakh at the end of FY25 and ₹1,236.21 lakh during July FY26.
• Debt also rose with time, from ₹665.04 lakh at FY23 to ₹1,078.94 lakh at FY25, while initial figures from FY26 indicate a decline to ₹864.04 lakh.
• The company’s financials indicate high growth of revenue and profitability, a good growth of net worth, and an effective management of debt.

Objects of the Issue

• ₹436.51 lakh: Establishment of a new production and assembly plant at Lucknow, Uttar Pradesh
• ₹356.03 lakh: Expansion of current Gondal (Raj
• ₹142.66 lakh: inauguration of a showroom at Gondal
• Up to ₹973.70 lakh: Working capital requirements
• Balance: General corporate purposes

Riddhi Display Equipments IPO Key Strengths

• Diversified Product Line: Display counters, food-service equipment used in commercial kitchens, and refrigeration units for bakery, fast-food, sweets, ice-cream, and snack sectors.
• Established Client Base: Supplies restaurants, cafes, food courts, supermarkets, and ice cream parlours.
• Sturdy Financial Performance: Revenue and profit have risen consistently, indicating efficiency in operations.
• Certified Manufacturing: Plant facilities are certified with global quality and safety standards of ISO 9001:2015.
• Expansion Plan: New plant at Lucknow with an aim of penetrating North Indian markets and reducing logistics costs.

Riddhi Display Equipments IPO Key Risks

• Customer Concentration: Top 10 customers accounts for 65% of the company’s revenue (FY25).
• Supplier Dependence: High dependency on major suppliers of Gujarat (98.7% procurement of raw materials).
• Regulatory Approvals Pending: Some statutory and environmental approvals are pending.
• Working Capital Intensive: High debtor days (119–150) and stock days (152–195).
• Geographical Concentration: Most revenue from Gujarat (40% YTD during FY26).
• Litigations: Tax proceedings of ₹54.15 lakh outstanding.

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