Rashi Peripherals IPO subscription status, Rashi Peripherals IPO review: Global tech brand distribution company Rashi Peripherals launched an initial public offer (IPO) worth an estimated Rs 600 crore on Wednesday, February 7. The IPO, which was available for subscription from 10 am to 5 pm for three trading days till February 9, comprised fresh issuance of 1.93 crore shares.

Rashi Peripherals IPO subscription status

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According to provisional exchange data, Rashi Peripherals IPO's share sale received bids for 85,01,65,296 shares against 1,42,37,289 shares on offer, translating into a subscription of 26.24 per cent, on Friday, the third day of the bidding process.

Category Subscription (No. of times the equity reserved)
Qualified institutional buyers (QIBs) 143.66
Non-institutional investors (NIIs) 62.75
Retail investors 10.44
Overall 59.71
Source: Exchange data

Should you apply for the Rashi Peripherals IPO? Here's what market wizard Anil Singhvi suggests

Zee Business Managing Editor Anil Singhvi suggests investors apply for the issue for a small listing gain as well as for the long term.

He has identified the following key points about the Dalal Street-bound company:

Positive:

  • Strong promoter background
  • Market leadership in most of the products
  • Strong relationship with global brands
  • Pan-India multi-channel distribution
  • Reasonable valuations

Negative:

  • Negative cash flows a concern
  • High debt which will be reduced from IPO money
  • Big contingent liabilities
  • Low margin business

Here are a few other important details to know about the Rashi Peripherals IPO: 

Important dates: From allotment to listing,  

While the allotment of shares is expected to take place tentatively on Monday, February 12, Rashi Peripherals shares are set to be listed on stock exchanges BSE and NSE on Wednesday, February 14, 2024.

Issue price

The company has set a price band of Rs 295-311 per share for the IPO.

Lot size

Potential investors can bid for Rashi Peripherals shares, under the IPO, in multiples of 48 shares, which translates into Rs 14,928 per lot.

Book running lead managers

While JM Financial Ltd and ICICI Securities Ltd are the book-running lead managers of the Rashi Peripherals IPO, Link Intime India Pvt Ltd is the registrar.

What does Rashi Peripherals do?

Incorporated in 1989, Rashi Peripherals distributes global technology brands in India. The company specialises in products related to information and communication technology (ICT) and its service offerings include value-added services such as pre-sales, technical support, marketing services, credit solutions, and warranty management services.

With a pan-India distribution network of 50 branches, 50 service centers and 63 warehouses, the company caters to technology requirements of 8,407 customers in 680 locations across the country, according to its website. 

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