Apex Ecotech Limited IPO...
20 Nov 2024
Rashi Peripherals Limited IPO
Rashi Peripherals Limited 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 Fiscal 2023. With a pan India distribution network of 50 branches, 50 service centers and 63 warehouses, they cater to technology requirements of 8407 customers in 680 locations across India.
They primarily operate the two following verticals:
- ● Personal Computing, Enterprise and Cloud Solutions (PES)
- ● Lifestyle and IT essentials (LIT)
They are the distribution partner of 52 global technology brands in India. Along with conventional distribution, they offer value added support such as pre-sale activities, solutions design, technical support, credit support and warranty management services. Rashi Peripherals IPO is a book-built issue of Rs 600.00 crores. The issue is entirely a fresh issue of 1.93 crore shares. Rashi Peripherals IPO price band is set at ₹295 to ₹311 per share. The minimum lot size for an application is 48 Shares. Jm Financial Limited and ICICI Securities Limited are the book running lead managers of the Rashi Peripherals IPO, while Link Intime India Private Ltd is the registrar for the issue.
Rashi Peripherals IPO Overview
| Detail | Description |
|---|---|
| IPO Date | February 7, 2024 to February 9, 2024 |
| Listing Date | February 14, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹295 to ₹311 per share |
| Lot Size | 48 Shares |
| Total Issue Size | 19,292,604 shares (aggregating up to ₹600.00 Cr) |
| Fresh Issue | 19,292,604 shares (aggregating up to ₹600.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 46,607,061 |
| Share holding post issue | 65,899,665 |
Rashi Peripherals IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Wednesday, February 7, 2024 |
| IPO Close Date | Friday, February 9, 2024 |
| Basis of Allotment | Monday, February 12, 2024 |
| Initiation of Refunds | Tuesday, February 13, 2024 |
| Credit of Shares to Demat | Tuesday, February 13, 2024 |
| Listing Date | Wednesday, February 14, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 9, 2024 |
Rashi Peripherals IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 48 | ₹14,928 |
| Retail (Max) | 13 | 624 | ₹194,064 |
| S-HNI (Min) | 14 | 672 | ₹208,992 |
| S-HNI (Max) | 66 | 3,168 | ₹985,248 |
| B-HNI (Min) | 67 | 3,216 | ₹1,000,176 |
Rashi Peripherals IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 5,787,780 (30.00%) | NA | QIB Shares Offered | 3,858,521 (20.00%) | NA |
| NII (HNI) Shares Offered | 2,893,891 (15.00%) | |
| bNII > ₹10L | 1,929,260 (10.00%) | 2,870 |
| sNII < ₹10L | 946,631 (4.91%) | 1,408 |
| Retail Shares Offered | 6,752,411 (35.00%) | 140,675 |
| Total Shares Offered | 19,292,603 (100%) |
Rashi Peripherals IPO Promoter Holding
| Share Holding Pre Issue | 89.65% |
| Share Holding Post Issue | 63.41% |
Rashi Peripherals IPO Anchor Investors Details
| Bid Date | February 6, 2024 |
| Shares Offered | 5,787,780 |
| Anchor Portion Size (In Cr.) | 180.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 13, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 12, 2024 |
Company & Financials
Incorporated in 1989, Rashi Peripherals Limited is a company that distributes global technology brands in India. They specialize in products related to ICT or Information and Communication Technology. The company's service offerings include value-added services such as pre-sales, technical support, marketing services, credit solutions and warranty management services.
The company has two business verticals:
- 1. Personal computing, enterprise and cloud solutions (PES): This includes personal computing devices, enterprise solutions, embedded designs/products and cloud computing.
- 2. Lifestyle and IT essentials (LIT): This includes the distribution of products such as:-
- ● Components such as graphics cards, central processing units (CPUs) and motherboards.
- ● Storage and memory devices.
- ● Lifestyle peripherals and accessories such as keyboards, mice, webcams, monitors, wearables, casting devices, fitness trackers and gaming accessories.
- ● Power devices such as UPS and inverters.
- ● Networking and mobility devices.
Rashi Peripherals Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 4,058.64 | 2,798.60 | 2,669.76 | 1,594.39 | ||||||||||||||||||||||||||||||||||||
| Revenue | 5,473.27 | 9,468.95 | 9,321.92 | 5,930.24 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 72.02 | 123.34 | 182.51 | 136.35 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 772.74 | 700.12 | 575.07 | 394.19 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 686.24 | 760.36 | 557.84 | 395.99 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,395.20 | 1,065.76 | 881.74 | 488.99 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 19.33% |
| ROCE | 14.21% |
| Debt/Equity | 1.53 |
| RoNW | 17.60% |
| P/BV | 1.86 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 26.46 | 21.86 |
| P/E (x) | 11.75 | 14.23 |
Objectives of Rashi Peripherals IPO
The company proposes to utilize the Net Proceeds from the Offer towards funding the following objectives:
- 1. Prepayment or scheduled repayment of all or a portion of certain outstanding borrowings availed by the Company.
- 2. Funding working capital requirements of the Company.
- 3. General corporate purposes.
Rashi Peripherals IPO Review
The company is one of the leading ICT product distributors in India. It posted encouraging performance for FY21 and FY22 in line with the industry trends during Pandemic and has also marked pressure on margins for FY23, but back on track as indicated by H1-FY24. Based on FY24 annualized earnings, the issue appears fully priced. Investors may consider parking of funds for the medium to long-term rewards.
FAQs for Rashi Peripherals IPO
-
What Is The Size Of Rashi Peripherals Limited’s IPO?
Rashi Peripherals Limited’s IPO consists of a fresh issue of shares worth INR 600 crores. The raised funds will be used to repay the borrowings and to fulfill the company’s working capital requirements.
-
What Is The Price Band Of Rashi Peripherals Limited’s IPO?
The price band of the issue has not been announced by the company.
-
When will Rashi Peripherals Ltd IPO be allotted?
The Basis of Allotment will be done on February 12, 2024.
-
When will Rashi Peripherals Ltd IPO open for subscription?
The IPO subscription window will be open from February 07, 2024, to February 09, 2024.
-
What minimum lot size can retail investors subscribe to?
The lot size of the IPO has been fixed at 48 shares.
-
When will Rashi Peripherals Ltd list on exchanges?
Rashi Peripherals Ltd IPO will be listed on BSE and NSE.
Rashi Peripherals IPO Subscription Status
Category
Subscription (times)
QIB
151.45
NII
66.15
bNII (bids above ₹10L)
74.51
sNII (bids below ₹10L)
50.38
Retail
11.01
Total
62.95
RHP:
RHP of Rashi Peripherals Limited IPO
DRHP:
DRHP of Rashi Peripherals Limited IPO
Anchor Investor Link:
Anchor Investor Link of Rashi Peripherals Limited IPO
-
What Is The Size Of Rashi Peripherals Limited’s IPO?
Rashi Peripherals Limited’s IPO consists of a fresh issue of shares worth INR 600 crores. The raised funds will be used to repay the borrowings and to fulfill the company’s working capital requirements.
-
What Is The Price Band Of Rashi Peripherals Limited’s IPO?
The price band of the issue has not been announced by the company.
-
When will Rashi Peripherals Ltd IPO be allotted?
The Basis of Allotment will be done on February 12, 2024.
-
When will Rashi Peripherals Ltd IPO open for subscription?
The IPO subscription window will be open from February 07, 2024, to February 09, 2024.
-
What minimum lot size can retail investors subscribe to?
The lot size of the IPO has been fixed at 48 shares.
-
When will Rashi Peripherals Ltd list on exchanges?
Rashi Peripherals Ltd IPO will be listed on BSE and NSE.
Rashi Peripherals IPO Subscription Status
| Category | Subscription (times) |
|---|---|
| QIB | 151.45 |
| NII | 66.15 |
| bNII (bids above ₹10L) | 74.51 |
| sNII (bids below ₹10L) | 50.38 |
| Retail | 11.01 |
| Total | 62.95 |
Read More IPO related blogs- Jana Small Finance Bank Limited IPO
_Limited_IPO_right.jpg)
_Limited_IPO_right.jpg)
_Mobility_&_Hospitality_Limited_IPO_right.jpg)
