Rashi Peripherals IPO: Here’s how to check share allotment status

The initial public offering (IPO) of Rashi Peripherals Ltd, which saw bumper subscription numbers last week after three days of bidding, is set to be in focus again today, February 12. The Rashi Peripherals IPO share allotment is likely to be finalised on Monday.

Considering that the ₹600-crore IPO was oversubscribed by almost 60 times, getting Rashi Peripherals IPO shares could be a good addition to the portfolio of the bidders.

Investors who had bid for the Rashi Peripherals shares during the IPO subscription period from February 7 to February 9 can check the share allotment status online.

The Rashi Peripherals IPO share allotment status can be checked online through the official websites of BSE or the registrar. To check the status, the subscribers will just need IPO application number and PAN details.

Link Intime Private Limited has been appointed as the official registrar for the Rashi Peripherals IPO.

How to check IPO allotment status on official registrar’s website

Follow these steps to check IPO share allotment status on Link Intime Private Limited’s website:

• Visit linkintime.co.in.
• Click on the public issues section under the ‘Investor Services’ tab.
• Select the ‘Rashi Peripherals’ from the dropdown menu containing the names of the companies. In case the name is not visible there, it means that the allotment status has not been finalised yet.
• After selecting the company name, to check status you can use any one of these- PAN details, the IPO application number, DP/Client ID, bank account number/IFSC for customer identification process.
• Click on the ‘Submit’ button.
• You would be able to check the allotment status of your application on your screen. In case you have been allotted shares, the status would also show the number of shares allotted.

How to check IPO allotment status on BSE

You can also check the allotment status on the official BSE website by following the steps given below:

• Visit the official website of BSE at https://www.bseindia.com/investors/appli_check.aspx.
• Choose the issue type as ‘equity’.
• For the issue name, choose ‘Rashi Peripherals’ from the dropdown menu.
• Then either fill in your IPO application number or PAN details for verification.
• Select ‘I’m not a robot’ checkbox and then click on ‘Search’. The allotment details will appear on your screen.

Once the share allotment is finalised, the process of crediting shares to the demat account of successful bidders would be initiated by 13 February, while refunds would be made to those who were not allotted Rashi Peripherals IPO shares.

The Rashi Peripherals stock is likely to list on BSE and the National Stock Exchange of India (NSE) on 14 February.

Rashi Peripherals IPO price band, lot size and subscription details

The price band of the Rashi Peripherals IPO was fixed at ₹295-311 per share. Investors could bid for a minimum of 48 shares and in multiples of 48 thereafter.

The offer was oversubscribed by 59.71 times, receiving bids for almost 850 million equity shares against the IPO size of 14.2 million shares.

Highest subscription was seen for the portion reserved for qualified institutional buyers (QIBs) at 143.66 times. The non-institutional investors (NIIs) portion was oversubscribed by 62.75 times, while the retail investors’ quota was subscribed 10.44 times.

The Rashi Peripherals IPO was entirely a fresh issue of shares of face value of ₹5 each with no offer-for-sale (OFS) component.

Of the funds raised, the company plans to utilise ₹326 crore for prepayment or scheduled repayment of all or a portion of certain outstanding borrowings. Another ₹220 crore would be used for funding working capital requirements and the balance amount for general corporate purposes.

Rashi Peripherals Ltd is one of the leading distribution partners for global technology brands in India for information and communications technology (ICT) products. Incorporated in 1989, it now has a pan-India distribution network of 50 branches, 50 service centres and 63 warehouses.