asianprimenews
Breaking NewsGeneralPublic Interest

Rashi Peripherals IPO subscribed 59.71 times on Final Day

The 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 10.44times.

Kapal Pansari, Managing Director of Rashi PeripheralsLimited 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.​

Company Information

Rashi Peripherals Limited was incorporated in 1989. It is one of the fastest growing distribution partners for global technology brands in India in terms of revenue growth between Fiscal 2021 and Fiscal 2023, according to a Technopak report dated January 19, 2024 mentioned in the red herring prospectus dated January 29, 2024 (“RHP”, and such report, the “Technopak Report”). It differentiates itself by offering end-to-end value-added services such as pre-sale activities, solutions design, technical support, marketing services, credit solutions and warranty management services.

As of September 30, 2023, it is a national distribution partner for 52 global technology brands.

It has a pan-India distribution network comprises 50 branches that operate for sales and as service centers and 63 warehouses, covering 680 locations in India, as of September 30, 2023.

The Mumbai-based company is a national distribution partner of global technology brands in product categories such as personal computing, mobility, enterprise, embedded solutions, components, lifestyle, storage and memory devices, power and accessories. It distributes products for global technology brands such as ASUS Global Pte. Ltd., Dell International Services India Private Limited, HP India Sales Private Limited, Lenovo India Private Limited, Logitech Asia Pacific Limited, NVIDIA Corporation, Intel Americas, Inc., Western Digital (UK) Limited, Schneider Electric IT business India Private Limited, Eaton Power Quality Private Limited, ECS Industrial Computer Co. Ltd., Belkin Asia Pacific Limited, TPV Technology India Pvt Ltd., LG Electronics India Private Limited, Toshiba Electronic Components Taiwan Corporation, and Harman International (India) Private Limited among others.

RPTech aims to expand its geographic presence in non-metro cities which includes tier I and tier II cities and other rural geographies which are becoming centre of consumptions for ICT products such as personal computers, smartphones, internet devices, networking devices, according to the Technopak Report.

The table below shows subscription data for all the categories of investors:

Related posts

Which side is Karishma on – Chingari Gang or MPT? Find out in Sony SAB’s Maddam Sir

asianprimenews

The Grand Tapestry of Ideas Unfurls: Jaipur Literature Festival Unveils Third List of Visionary Speakers

asianprimenews

EaseMyTrip Teams Up with Cover Genius to Offer Convenient and Flexible Embedded Protection to Global Travelers

asianprimenews

Leave a Comment