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Rashi Peripherals Limited raises Rs. 180 crore from Anchor Investors

Mumbai, February 06, 2024: Rashi Peripherals Limited (“RP Tech”), among the leading 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 2023 (Source: Technopak Report), has garnered Rs. 180 crores from anchor investors ahead of its initial public offering that opens for public subscription on Wednesday, February 07, 2024. The company informed the bourses that it allocated 57,87,780equity shares at Rs. 311 per share on Tuesday, February 06,2024, to 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

Out of the total allocation of 57,87,780 equity shares to the anchor investors, 19,61,472 equity shares were allocated to 3domestic mutual funds through a total of 8 schemesamounting to Rs. 61 crore approx i.e. 33.89% of the Total Anchor Book Size.

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

IPO Details

The issue is entirely a fresh issue of Equity Shares aggregating to 600 crore with no offer for sale component.

The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Wednesday, February 07, 2024, and closes on Friday, February 09, 2024. The price band for the Offer has been determined at Rs 295 – Rs 311per equity share.

The IPO will fetch Rs 600 crore at the upper end of the price band.

Investors can bid for a minimum of 48 equity shares and in multiples of 48 equity shares thereafter.

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.

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