Get insights into the Rashi Peripherals IPO, covering details such as opening and closing dates, price band, lot size, and key financial indicators. Stay informed about this digital technology distributor’s market debut.
Introduction
Rashi Peripherals Limited is set to make waves in the financial landscape with its Initial Public Offering (IPO), a book-built issue aiming to raise Rs 600.00 crores. This IPO comprises an entirely fresh issue of 1.93 crore shares, providing investors with an opportunity to be part of the company’s growth story.
Key IPO Dates
The subscription for Rashi Peripherals IPO kicks off on February 7, 2024, and concludes on February 9, 2024. The allotment process is anticipated to be finalized by Monday, February 12, 2024. The stock is poised to make its market debut on BSE and NSE on Wednesday, February 14, 2024.
Pricing Insights
Rashi Peripherals IPO comes with a price band set at ₹295 to ₹311 per share. The minimum lot size for an application is 48 shares, requiring a retail investor investment of ₹14,928. Significant investments for sNII and bNII stand at 14 lots (672 shares, ₹208,992) and 67 lots (3,216 shares, ₹1,000,176), respectively.
Key Players
JM Financial Limited and ICICI Securities Limited serve as the book running lead managers for the Rashi Peripherals IPO, ensuring a seamless process. The registrar for the issue is Link Intime India Private Ltd.
Rashi Peripherals IPO in Numbers
- IPO Date: February 7, 2024, to February 9, 2024
- Listing Date: [To be Announced]
- Face Value: ₹5 per share
- Price Band: ₹295 to ₹311 per share
- Lot Size: 48 Shares
- Total Issue Size: 19,292,604 shares (₹600.00 Cr)
- Fresh Issue: 19,292,604 shares (₹600.00 Cr)
- Issue Type: Book Built Issue IPO
- Listing At: BSE, NSE
- Shareholding Pre-Issue: 46,607,061
- Shareholding Post-Issue: 65,899,665
Rashi Peripherals IPO Reservation
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- QIB: Not more than 50% of the Net Issue
- Retail: Not less than 35% of the Net Issue
- NII (HNI): Not less than 15% of the Net Issue
Rashi Peripherals IPO Anchor Investors
The IPO has already garnered significant attention, raising Rs 180.00 crores from anchor investors in a bidding process that concluded on February 6, 2024.
IPO Timeline
- 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
Investors can bid for a minimum of 48 shares and in multiples thereof. Refer to the table below for the minimum and maximum investments by retail investors and HNI in terms of shares and amounts.
| 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 Promoter Holding
The promoters, including Krishna Kumar Choudhary and others, currently hold 89.65% of the company, which is expected to be diluted to 63.41% post the IPO.
About Rashi Peripherals Limited
Established in 1989, Rashi Peripherals Limited is a prominent distributor of global technology brands in India. With a focus on Information and Communication Technology (ICT), the company offers value-added services, including pre-sales, technical support, marketing, credit solutions, and warranty management.
The company operates in two main business verticals:
- Personal Computing, Enterprise, and Cloud Solutions (PES): Includes personal computing devices, enterprise solutions, embedded designs/products, and cloud computing.
- Lifestyle and IT Essentials (LIT): Encompasses the distribution of components, storage and memory devices, lifestyle peripherals and accessories, power devices, and networking and mobility devices.
As of September 30, 2023, Rashi Peripherals serves as the national distributor for 52 global technology brands, boasting 50 branches, 63 warehouses, and a vast network of distributors across India.
Financial Snapshot
Between March 31, 2022, and March 31, 2023, Rashi Peripherals exhibited a 1.58% increase in revenue, accompanied by a -32.42% drop in profit after tax. The company’s market capitalization stands at Rs 2049.48 Cr.
| 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 |
| PAT | ₹72.02 | ₹123.34 | ₹182.51 | ₹136.35 |
| Net Worth | ₹772.74 | ₹700.12 | ₹575.07 | ₹394.19 |
| Reserves | ₹686.24 | ₹760.36 | ₹557.84 | ₹395.99 |
| Borrowing | ₹1,395.20 | ₹1,065.76 | ₹881.74 | ₹488.99 |
Key Performance Indicators (KPIs)
- ROE: 19.33%
- ROCE: 14.21%
- Debt/Equity: 1.53
- RoNW: 17.60%
- P/BV: 1.86
GMP Analysis
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The Grey Market Premium (GMP) for Rashi Peripherals IPO has shown stability. As of February 6, 2024, with a GMP of ₹70, indicating an expected gain of 22.51%, the market anticipates a modest listing premium.
GMP Accuracy: A Historical Perspective
Analyzing the GMP trends of the year 2023 reveals that it has been a reliable predictor for listing prices. Out of 213 IPOs, most listings were close to GMP estimates, providing valuable insights into investor sentiment.
Conclusion
Rashi Peripherals IPO emerges as a significant investment opportunity, combining a robust business model, established market presence, and prudent financial management. Investors are advised to track subscription trends and GMP fluctuations closely for a comprehensive view of the IPO’s trajectory.
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