Rishabh Instruments

About Rishabh Instruments

In 1982, after working in his family's business, Narendra Joharimal Goliya founded Rishabh Instruments in Nashik, India. With a background in electrical engineering from IIT, Mumbai and a Master's from Stanford University, he started the company to manufacture and design test and measuring instruments. The early years were challenging, but a key turning point came through technical collaborations with a German company, which helped them produce digital instruments and gain a foothold in the export market. The company focused on a business-to-business model, building a product line that includes electrical automation devices, metering and protection instruments, and solar string inverters. A significant step in their journey was the acquisition of the Polish company, Lumel, in 2011, which expanded their manufacturing capabilities and market reach into Europe. This international expansion continued, with manufacturing facilities later established in China, complementing their operations in India and Poland. After four decades of operating as a private entity, Rishabh Instruments underwent a major corporate event. The company went public with an Initial Public Offering (IPO) in August 2023, listing on the BSE and NSE stock exchanges on September 11, 2023. The IPO, valued at approximately ₹490.78 crores, consisted of both a fresh issue of shares to raise capital for expansion and an offer for sale from existing shareholders. Today, the company serves customers in over 100 countries through a global distribution network.