Rashi Peripherals IPO Attracts Strong Investor Demand; Check Subscription Details here

9 Feb 2024 , 01:11 PM

The Rashi Peripherals IPO, which opened for subscription on Wednesday, February 7, is set to close today, Friday, February 9. The IPO has seen strong interest from investors, with a subscription status of 3.19 times by the end of the second day.

As of day 3, the issue has been oversubscribed 10.96 times. The retail portion of the IPO has been subscribed 6.61 times, while the NII portion has seen a subscription rate of 28.45 times. The QIB portion received bids 5.45 times its allocated shares.

The price band for the Rashi IPO has been set at ₹295 to ₹311 per equity share of face value ₹5. The company raised ₹180 crores from anchor investors on February 6. The lot size for the IPO is 48 equity shares, with multiples of 48 thereafter.

In terms of allocation, not more than 50% of the shares in the public issue have been reserved for Qualified Institutional Buyers (QIBs), while at least 15% is allocated for Non-Institutional Investors (NIIs). Additionally, a minimum of 35% of the offer is reserved for Retail Investors.