Technology Distributor Rashi Peripherals Open For IPO

- Advertisement -
- Advertisement -

The IPO allotment is expected to be finalised on February 12, with refunds initiated on February 13, 2024.

The initial public offering (IPO) of Rashi Peripherals is open for subscription since Wednesday, February 7, with the company having set the IPO price band at ₹295 to ₹311 per equity share. It will remain open for subscription until Friday, February 9, allowing retail investors to bid for a minimum of 48 shares and multiples thereof. The minimum investment required from retail investors is ₹14,160.

In anticipation of the IPO subscription date, Rashi Peripherals shares have debuted in the grey market, available at a premium of ₹71 per share. As of 2:33 PM on the first day of bidding, the IPO was subscribed 0.58 times overall, with the retail portion booked 0.87 times and the NII segment 0.69 times.

- Advertisement -

Rashi Peripherals aims to raise ₹600 crore through the public issue, which consists entirely of a fresh issue of 1.93 crore equity shares with a face value of ₹5 each, without any offer for sale component. Prior to the IPO, Madhusudan Kela’s wife, Madhuri Madhusudan Kela, and Volrado Venture Partners Fund-III-BETA invested ₹50 crore and ₹100 crore respectively, being allotted a total of 48.23 lakh equity shares at an issue price of ₹311 each.

The IPO allotment is expected to be finalised on February 12, with refunds initiated on February 13, and shares credited to the demat accounts of eligible allottees on the same day. The shares are set to be listed on both the Bombay Stock Exchange (BSE) and National Stock exchange (NSE) on February 14. JM Financial and ICICI Securities are the book running lead managers, with Link Intime India serving as the IPO registrar.

rashi peripherals

Founded in 1989, Rashi Peripherals stands as a national distribution partner for 52 global technology brands in India, focusing on information and communications technology (ICT) products. The company is known for its end-to-end value-added services, including pre-sale activities, solutions design, technical support, marketing services, credit solutions, and warranty management services. As of September 30, 2023, it operates a pan-India distribution network with 50 branches and 63 warehouses, covering 680 locations.

For the period ending September 30, 2023, Rashi Peripherals reported a net profit of ₹72.02 crore and revenue of ₹5,473.72 crore, with the previous fiscal year’s (FY23) net profit at ₹123.34 crore and revenue at ₹9,468.95 crore.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Marina

Investments In Drone Industry Decline To US$1.7 billion

0
The 2023 data now separates drone company funding from AAM/eVTOL funding, which significantly boosted the total in 2020 and 2021. Drone companies received US$1.7 billion...

Now’s A Great Time To Make In India: Jabil’s BN Shukla

0
In news and in current affairs relevant to the current geopolitical situation, India is emerging as one of the fastest-growing electronics manufacturing services nations...

Global TV Shipments Decline By 3%, China Experiences Growth

0
In India, the 32” smart TV segment leads the market, although its share is declining. The share of larger screen sizes, particularly 55” and...

Buzz

Tata

Tata To Start Semiconductor Fab Construction Within 100 Days

0
Additionally, Tata Semiconductor Assembly and Test Pvt Ltd (“TSAT”) will set up a semiconductor unit in Morigaon, Assam. The Union Cabinet chaired by Prime Minister...

Honda Unveils 2025 CR-V e Hydrogen Fuel Cell EV In US

0
Honda announced that the 2025 CR-V e:FCEV will be available for customer leasing in California starting later this year. Honda has unveiled the 2025 Honda...
Huawei

Huawei Launches Intelligent Distribution, Reduces High Line Losses

0
IDS uses high-speed power line carrier communication (HPLC) for low-voltage communication, facilitating rapid data collection and interactive connections  at a 99% data acquisition success...

Important Sectors

Tata

Tata To Start Semiconductor Fab Construction Within 100 Days

0
Additionally, Tata Semiconductor Assembly and Test Pvt Ltd (“TSAT”) will set up a semiconductor unit in Morigaon, Assam. The Union Cabinet chaired by Prime Minister...
Marina

Investments In Drone Industry Decline To US$1.7 billion

0
The 2023 data now separates drone company funding from AAM/eVTOL funding, which significantly boosted the total in 2020 and 2021. Drone companies received US$1.7 billion...

Honda Unveils 2025 CR-V e Hydrogen Fuel Cell EV In US

0
Honda announced that the 2025 CR-V e:FCEV will be available for customer leasing in California starting later this year. Honda has unveiled the 2025 Honda...
Huawei

Huawei Launches Intelligent Distribution, Reduces High Line Losses

0
IDS uses high-speed power line carrier communication (HPLC) for low-voltage communication, facilitating rapid data collection and interactive connections  at a 99% data acquisition success...

Bosch And Microsoft Explore Safety With Generative AI

0
The companies are collaborating to harness generative AI for improved vehicle convenience and enhanced road safety. Bosch is exploring the use of generative AI to...

Manufacturing

Now’s A Great Time To Make In India: Jabil’s BN Shukla

0
In news and in current affairs relevant to the current geopolitical situation, India is emerging as one of the fastest-growing electronics manufacturing services nations...

MeitY Secretary: Domestic Semiconductor Manufacturing Is The Next Big Thing

0
At the India Digital Summit (IDS) 2024, S Krishnan, Secretary of MeitY, highlighted that India is on the brink of a major move towards...

Tata Picks Somerset For UK Battery Plant

0
The Bridgewater factory, operated by the subsidiary Agratas, will initially produce batteries for JLR and Tata Motors; with a capacity of 40GWh, it will...

India’s Semiconductor Manufacturing Ambition Needs A Decadal Plan

0
Explore India’s surge in semiconductor imports, the pressing need for self-reliance, and the strategic pillars reshaping the nation’s technological destiny. Artificial intelligence (AI) refers to...

India’s Battery Manufacturing Capacity To Hit 120 GWh By 2028: Official

0
The government has allocated 30GWh capacity to three companies under the PLI scheme for ACC battery manufacturing and is in the process of awarding...