1. Five things to know about Rashi Peripherals IPO

Five things to know about Rashi Peripherals IPO

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Upstox

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2 min read • Updated: February 6, 2024, 5:47 PM

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Summary

IPO of Rashi Peripherals, which distributes information and communication technology products will be open for subscription between 7th to 9th February 2024. Here are the key things to know before you apply for this IPO.

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Rashi Peripherals IPO for subscription tomorrow

Incorporated in 1989, Rashi Peripherals Limited is a leading national distribution partner for global technology brands in India. The company’s primary business activity is distributing Information and Communications Technology (ICT) products, personal computing, mobility, enterprise, embedded solutions, components, lifestyle, storage and memory devices, UPS and accessories.

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As of 30 September 2023, it had 8,402 customers of which it acts as a national distribution partner for 52 global technology brands. These brands are ASUS, Dell, HP, Lenovo, Logitech Asia Pacific, NVIDIA Corporation, Intel, Schneider, Toshiba and Harman. The wide range of product offerings has helped Rashi Peripherals achieve economies of scale and provide channel partners with a single sourcing point.

Between FY21 and FY23, it has seen a CAGR rise of 16% in its revenue from operations, while its net profit has been fluctuating and saw a CAGR drop of 3% during the same period. However, the personal computing market is expected to grow from ₹4,589 billion in 2022 to ~₹7,337 billion by 2026, which could benefit the company.

Rashi Peripherals plans to raise ₹600 crore through the IPO. The public offer is entirely a fresh issue. The price band for the issue has been fixed at ₹295-311 per share. Lot size for this IPO is 48 equity shares, investors can bid in multiples of 48 shares.

The money raised through the fresh issue will be utilised to repay borrowings, fund working capital requirements and for general corporate purposes.

To know more and pre-apply for this IPO, click here