Rashi Peripherals IPO; IT Hardware and Peripherals company IPO to begin from February 07; Key Details here

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

Rashi PeripheralsIPO: Rashi Peripherals to raise around Rs 600 crores through public issue IPO

Rashi Peripherals IPO is a public offering of shares by Krishna Kumar Choudhary, Sureshkumar Pansari, Kapal Suresh Pansari, Keshav Krishna Kumar Choudhary, Chaman Pansari, Krishna Kumar Choudhary (HUF), and Suresh M Pansari HUF. The IPO will open on February 07 and will close on February 09. The price band is ₹296 to ₹311 per share and the lot size is 48 shares. The issue size is ₹600. crore. The shares are expected to be listed on NSE, BSE on February 14 (^). Some additional information that you may find useful are: Company's repeat customers for FY23 at 91.8% (90.5%/89.1% in FY22/FY21). Share of General Trade/Ecommerce/Modern Trade stood at 70%/20%/9-10% and going ahead it is expected at 70% / 15-20% / 10-15%.: (**) - based on higher price band (^) indicative date

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

Key Pointers of Rashi Peripherals IPO:

Promoters of the company are Krishna Kumar Choudhary, Sureshkumar Pansari, Kapal Suresh Pansari, Keshav Krishna Kumar Choudhary, Chaman Pansari, Krishna Kumar Choudhary (HUF), and Suresh M Pansari HUF Currently promoters hold 89.65% stake in the company. While post-equity promoters stake will be 63.4%

Company has undertaken pre-IPO placement by the way of Private Placement of Equity Shares and alloted 4,823,151 shares at a price of Rs 311per share. Total value of Pre-IPO placement is Rs. 150. crores issued to Pre-IPO placement of Equity Shares through a private placement undertaken by the Company of 4,823,151 Equity Shares at a price of ₹ 311 per Equity Share, aggregating to approximately ₹1,500 million..

• Company aims to raise between Rs 600 to 600 crs through this IPO.
• The net proceeds of the issue will be utilized to 1) Repayment of Debt - Rs326 crores 2) Working capital - Rs220 crores and 3) General corporate purposes
• Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 06-Feb-24.
• Price band for the IPO has been fixed at Rs 296 to 311 per share and bid lot are in multiple of 48 shares. The implied market cap post-issue at Rs 1,980 to 2,049 crs.
• As per the tentative schedule, allotment date of this IPO is most likely on February 12 and share are expected to be listed on NSE, BSE on February 14.
• Company has direct competition in IT products segment. It has competition with only listed player Redington.
• JM Financial, ICICI Securities has been appointed as Merchant Banker to the issue. Link Intime India Pvt. Ltd. has been appointed as official registrar of the issue.

About Rashi Peripherals Limited

Rashi Peripherals Limited

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.

Company's repeat customers for FY23 at 91.8% (90.5%/89.1% in FY22/FY21). Share of General Trade/Ecommerce/Modern Trade stood at 70%/20%/9-10% and going ahead it is expected at 70% / 15-20% / 10-15%.

Also READ: Apeejay Surrendra Park Hotels IPO; Hotels company IPO to begin from February 05; Key Details here BLS E-Services IPO; Digital Service Provider company IPO to begin from January 30; Key Details here

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, IPO Status, 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.