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Press Release

Lumel S.A. and Lumel Alucast Sp. z o. o. which are part of the Rishabh Instruments Capital Group confirm that from 31st August to 1st September the initial public offering was carried out and in its result the company Rishabh Instruments Limited, the main shareholder of Lumel S.A. and Lumel Alucast Sp. z o.o. will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) from 11th September 2023.
The public offering was strategically tailored to address both institutional and individual investors and we are very delighted to report that it significantly surpassed the originally projected offering subscription numbers, exceeding it by a remarkable 32-fold.
Rishabh Instruments Ltd has meticulously earmarked the proceeds generated from this offering for a well-defined purpose.
These funds will be strategically allocated to advance our corporate strategy, which encompasses an ambitious expansion plan. This expansion strategy primarily revolves around augmenting the scale of our operations within the broader domain of industrial automation, energy sector and aluminium die-casting.
We intend to achieve this by means of organic growth initiatives and strategic acquisitions of manufacturers and renowned brands, both domestically and internationally.
Currently, the Rishabh Capital Group consists of the following entities
- Lumel S.A. (Poland) – manufacturer of industrial automation devices
- Lumel Alucast Sp. z o. o. (Poland) – manufacturer of precise high-pressure castings,
- Rishabh Instruments Ltd (India) - manufacturer of industrial automation devices,
- V&A (China) – manufacturer of multimeters and portable devices
- Sifam Tinsley (UK), Sifam Tinsley (US) - trading companies
Turnover of Lumel S.A. and Lumel Alucast Sp. z o. o. accounted for almost 63% of the turnover of the entire capital group in 2022/23.
Dinesh Musalekar, the current President of Lumel S.A. and Lumel Alucast Sp. z o.o., was appointed Group CEO of the Capital Group.
However he will continue to remain as President and CEO of Lumel S.A. and Lumel Alucast as well. 
Key financial results of the Rishabh Capital Group
In 2022/23, the consolidated revenues of the Rishabh Capital Group amounted to 64 million euros, i.e. about 21% more than a year earlier.
The Group also recorded a higher normalized EBITDA during this period: 6,2 million euros and net profit 5,2 million euros.
Dinesh Musalekar
President of Lumel S.A. and Lumel Alucast Sp. z o.o.
CEO of Rishabh Instruments Capital Group