Rashi Peripherals IPO: There is a lot of enthusiasm among investors regarding the IPO of Rashi Peripherals. However, today is the last day of application. Investors can avail this till 5 pm today IPO Can apply for. On Thursday, the second day of the offer, the IPO was subscribed 3.19 times. According to data available on NSE, 1,42,37,289 shares have been offered under the issue.
Bids were placed for 4,53,93,936 shares on the second day of the issue. The non-institutional investors category was subscribed 5.88 times while the retail individual investors (RII) segment was subscribed 3.45 times.
The segment reserved for eligible institutional buyers has received 72 percent subscription. New shares worth up to Rs 600 crore have been issued under the IPO. This does not involve any sales offer.
The price range of IPO has been fixed at Rs 295-311 per share. Rashi Peripherals had raised Rs 180 crore from anchor (big) investors on Tuesday before the opening of the issue.
Rashi Peripherals IPO What is GMP
The premium of Rashi Peripherals IPO is increasing rapidly in the gray market. According to InvestorGain.com, the premium per share is more than Rs 75. Considering the upper end of the IPO price band and the existing premium in the gray market, the expected listing price of Rashi Peripherals IPO was said to be ₹386 per share, which is 24.12% higher than the IPO price. Anand Rathi Share & Stock Brokers Ltd believes that the company is valued at the upper price band at a P/E of 16.6x and the market capitalization after the issue of equity shares is ₹20,494.80 million. We believe the company’s valuations are fair and recommend a “Subscribe-Long Term” rating to the IP.
What does Rashi Peripherals do?
Rashi Peripherals is one of the leading national distribution partners of global technology brands in India for Information and Communication Technology (IT) products. The company’s revenue from operations stood at Rs 9,454.3 crore for the six months ended March FY23 with a CAGR of 26.32 per cent over FY11-FY23, while the topline for the six months ended September FY23 stood at Rs 5,468.5 crore. Was. In the pre-IPO placement, Volrado Venture Partners Fund-III-Beta and Madhuri Madhusudan Kela, wife of lead investor Madhusudan Kela, invested Rs 100 crore and Rs 50 crore. Volrado and Kela are the only public shareholders of the company holding 10.35 per cent stake, while the remaining 89.65 per cent shares are held by the promoters.
(Disclaimer: Investing in IPO is subject to market risk. Before investing in it, take information from a financial advisor.,