Rashi Peripherals IPO Overwhelmed with Bids

9 Feb 2024 , 07:20 AM

On the last day of the offering, Rashi Peripherals’ initial public offering (IPO) has received 59.71 subscriptions. At roughly 5 p.m., the retail component was subscribed 10.44 times. While the amount reserved for qualified institutional buyers (QIBs) was subscribed 143.66 times, the portion reserved for non-institutional investors was booked 62.37 times.

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This is a fully new equity issue of ₹600 crore, and it closes today. The company raised ₹180 crore from anchor investors prior to the issue opening, including investments from Volrado Ventures, ICICI Prudential, Ashoka India, and White Oak Capital.

In terms of sales and distribution network in FY23, Rashi Peripherals ranked among the top national distributors for international technology brands in India for information and communications technology (ICT) products. The company has partnerships with more than 52 international technology brands and offers more than 10,000 products.

The business did a pre-IPO placement before going public by offering 48.23 lakh shares to individual investors, wherein Madhu Kela acquired a portion of the shares.

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