Mumbai based IT Hardware and Peripherals Company Rashi Peripherals files DRHP with SEBI for the proposed IPO; Key Details here

Rashi Peripherals is into Technology IT Hardware and Peripherals and is looking raise funds through Fresh Issue

Rashi PeripheralsIPO: Fresh Issue of Equity shares aggregating up to Rs.750 crores IPO

Rashi Peripherals IPO: Rashi Peripherals Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 5 per share via initial public offering.

Promoters of Rashi Peripherals are Krishna Kumar Choudhary, Sureshkumar Pansari, Kapal Pansari, Keshav Choudhary, Chaman Pansari, Krishna Kumar Choudhary (HUF), and Suresh M Pansari HUF and holds 99.99% stake in the company.

Key Details:

• Initial Public Offer comprising of a Fresh Issue of Equity Shares aggregating upto Rs750 crores..
• JM Financial, ICICI Securities have been appointed as lead merchant bankers for the proposed IPO.
• It has appointed Link Intime (India) Pvt. Ltd. as Registrar and Share transfer Agent.
• Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 750 Crs and.

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Objects of the issue:
1) Repayment of Debt - Rs326 crores, 2) Working capital - Rs220 crores, and 3) General corporate purposes.

About Company:
Rashi Peripherals is B2B integrated technology products distribution company. It has tieup with over 52 global technology brands in India for distribution of over 10k products information and communications technology segments. It offers end-to-end services such as pre-sale activities, solutions design, technical support, marketing services, credit solutions and warranty management services. It has over 8400 customers spread across 680 cities.

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About Industry:
Globally, the electronics and information and communications technology products market is expected to grow at a CAGR of 14% between 2020 and 2025 and is projected to cross USD 350 billion in sales by 2025. Information technology spending in India is projected to reach a value of approximately USD 136 billion by 2025 growing at a CAGR of 10%. Non-metro cities and other rural geographies are becoming centre of consumptions for information technology products like personal computers, smartphones, internet devices, networking devices and hence there is requirement for information and communications technology distributors and resellers having pan India presence.

Source: SEBI, BSE, NSE, DRHP, Rashi Peripherals, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.