Rashi Peripherals stock debuts at 8% premium over issue price
Rashi Peripherals were listed at a premium of 7.7% over the issue price of Rs 311 at Rs 335. Meanwhile, on NSE, it listed at a premium of 9.2% at Rs 339.5.
The initial public offer (IPO) of Rashi Peripherals has been subscribed 59.71 over the three-day issue period. The retail portion was subscribed 10.44 times receiving consolidated share bids over 7.43 crore crore against 71.18 lakh shares available for subscription. The non-institutional investors' portion was booked 62.75 times while the qualified institutional buyers' (QIBs) portion was subscribed 143.66 times.
The issue closed on February 9 and was completely a fresh equity issue of Rs 600 crore. Ahead of the issue opening, the company raised Rs 180 crore from anchor investors, where White Oak Capital, Ashoka India, ICICI Prudential, Volrado Ventures among others invested.
The company fixed a price band of Rs 295-311 per share and investors could bid for a minimum of 48 shares and in multiples thereafter. About 50% of the issue is reserved for qualified institutional buyers, 15% for non-institutional bidders, and 35% for retail investors.
Rashi Peripherals is among 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 FY23, boasting partnerships with over 52 global technology brands and offering over 10,000 products.
Prior to their IPO, the company successfully completed a pre-IPO placement by offering 48.23 lakh shares to
