Riddhi Display IPO: Check GMP, price band, subscription and other details

Riddhi Display Equipments will open its Rs 24.68 crore SME IPO for subscription on Monday, kicking off a three-day issue that will close on December 10. The Gujarat-based manufacturer of display counters, commercial kitchen systems and refrigeration equipment is offering a fully fresh issue of 0.25 crore shares in the price band of Rs 95 to Rs 100. The listing is scheduled for December 15 on the BSE SME platform, with allotment expected on December 11.

A little over 47% of the public float is earmarked for retail investors, while HNIs have access to nearly 47% and only 1% is reserved for QIBs. The minimum retail application size works out to Rs 2.40 lakh at the upper price band for 2,400 shares.

Financial growth

Riddhi Display enters the market after a phase of sharp financial acceleration. Revenue rose 33% in FY25 to Rs 25.09 crore, while profit more than doubled to Rs 4.14 crore. The margin profile also improved meaningfully, with EBITDA margin rising to 27.68% and PAT margin settling at 16.53%.

Company overview

Its product suite covers display counters used by restaurants, bakeries, supermarkets and café chains, along with a wide range of kitchen and commercial refrigeration equipment. Riddhi positions itself on customization, durability and service, supported by an in-house engineering and fabrication team. As of August 2025, the company employed 55 people.

IPO proceeds

The IPO proceeds will be used for multiple expansion projects. A substantial portion is planned for a new manufacturing and assembly unit in Lucknow, while additional funds will be deployed to upgrade the Gondal plant and set up a new showroom in Rajkot. Working capital is another key component, reflecting the company’s dependency on inventory cycles and project-based execution. The balance will go towards general corporate purposes.

The listing on December 15 will be watched for how the market values the company’s high growth momentum, margin expansion and planned capacity additions against the risks of operating in a competitive, order-driven equipment manufacturing space.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)