Rashi Peripherals IPO | Business Upturn

Rashi Peripherals IPO subscribed 59x on final day

Markets Desk — Fri, 09 Feb 2024 12:21:09 +0000

The IPO (Initial Public Offering) of Rashi Peripherals Limited was subscribed 59.71 times on the final day of bidding.

The issue received bids of 85,01,61,120 shares against the offered 1,42,37,289 equity shares, at a price band of ₹295-311, according to the data available on the stock exchanges.

Qualified Institutional Buyer Portion and Non-Institutional Investors Portion was subscribed 143.66 times and 62.75 times respectively. Retail Portion was subscribed with 10.44 times.

Kapal Pansari, Managing Director of Rashi Peripherals Limited on the last day of subscription said, “We extend our heartfelt gratitude to all our valued investors. Your trust and support have been instrumental in our journey, and we’re excited for the opportunities that lie ahead. Thank you for being an essential part of our growth story.”

JM Financial Limited and ICICI Securities Limited are the book running lead managers to the Offer.

Rashi Peripherals’ Rs 600 crore IPO subscribed fully on Day 1 itself

Markets Desk — Wed, 07 Feb 2024 12:09:11 +0000

The Initial Public Offering (IPO) of Rashi Peripherals Limited was fully subscribed on the first day of bidding led by NII and Retail investors. The issue received bids of 1,54,57,104 shares against the offered 1,42,37,289 equity shares, at a price band of ₹295-311, according to the data available on the stock exchanges. Overall, the issue was subscribed 1.09 times.

Non-Institutional Investors Portion was subscribed with 1.87 times, Retail Portion was subscribed with 1.36 times, whereas the Qualified Institutional Buyer Portion subscribed 0.01 times. The issue kicked off for subscription on Wednesday, February 07, 2023 and will close on Friday, February 09, 2023.

A day prior to the opening of the issue, Rashi Peripherals Ltd had raised Rs 180 crores from anchor investors. Foreign and Domestic Institutions who participated in the anchor were White Oak Capital, Ashoka India, ICICI Prudential, Volrado Ventures, Bajaj Alliance Life Insurance, Aditya Birla Sun Life Insurance, SBI General Insurance, BCAD, Singularity Growth Opportunity Fund and Authum Investments.

Rashi Peripherals gets Sebi nod for Rs 750 crore IPO

Markets Desk — Wed, 05 Apr 2023 13:19:34 +0000

Mumbai-based Rashi Peripherals Ltd among the leading value-added national distribution partners for global technology brands in India for information and communications technology (“ICT”) products in terms of revenues and distribution network in Fiscal 2022 has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise Rs 750 crore through an initial public offering (IPO).

The company had filed preliminary IPO papers with Sebi on January 18, 2023.

The public issue with a face value of Rs 5 per equity share is a complete fresh issue of shares of Rs 750 crore with no offer-for sale component.

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

The company, in consultation with the lead bankers to the issue, may consider a private placement of equity shares for cash consideration aggregating up to Rs 150 crore. If such placement is completed, the fresh issue size will be reduced.

The proceeds from its fresh issuance, Rs. 400 crore will be utilised for prepayment or scheduled re-payment of all or a portion of certain outstanding borrowings availed by the Company, Rs 200 crore for funding working capital requirements and general corporate purposes.