Rashi Peripherals Limited IPO Listing:Listing of shares of Rashi Peripherals is going to happen today. According to experts, investors can get double digit returns in one go. This IPO of Rs 600 crore was subscribed 59.71 times during February 7-9. Investors of all categories had shown great interest in investing in it. The portion of qualified institutional buyers has been subscribed 143.66 times. Along with this, the impact of stable market can also be seen on the listing of shares.
-
The company has fixed the price band for its IPO at Rs 295-311.
-
The IPO of the Mumbai-based company includes only the fresh issue. There is no offer for sale in this.
-
The original issue size was Rs 750 crore, which was reduced to Rs 600 crore after raising funds in pre-IPO placement.
Rashi Peripherals IPO What is GMP
The premium of Rashi Peripherals IPO is increasing rapidly in the gray market. According to InvestorGain.com, the premium per share is more than Rs 75. Considering the upper end of the IPO price band and the existing premium in the gray market, the expected listing price of Rashi Peripherals IPO was said to be ₹386 per share, which is 24.12% higher than the IPO price.
What will the company do with the money?
The company has said in the IPO letter that it will use the money received from investors to repay the loan of Rs 400 crore. Whereas, Rs 200 crore is to be used to meet the working capital needs and for general purposes.
What does Rashi Peripherals do?
Rashi Peripherals is one of the leading national distribution partners of global technology brands in India for Information and Communication Technology (IT) products. The company’s revenue from operations stood at Rs 9,454.3 crore for the six months ended March FY23 with a CAGR of 26.32 per cent over FY11-FY23, while the topline for the six months ended September FY23 stood at Rs 5,468.5 crore. Was. In the pre-IPO placement, Volrado Venture Partners Fund-III-Beta and Madhuri Madhusudan Kela, wife of lead investor Madhusudan Kela, invested Rs 100 crore and Rs 50 crore. Volrado and Kela are the only public shareholders of the company holding 10.35 per cent stake, while the remaining 89.65 per cent shares are held by the promoters.