Rashi Peripherals has set the price band at Rs 295-311 for its Rs 600-crore public issue, opening for subscription on February 7.
Retail investors can bid for a minimum of 48 shares and in multiples of 48 after that. Hence the minimum investment by retail investors would be Rs 14,160. At the upper end, the bidding amount will increase to Rs 14,928.
Up to 50 percent of the issue size has been reserved for qualified institutional buyers (QIB). Out of the rest, 15 percent is kept for high-net-worth individuals and 35 percent for retail investors.
The IPO comprises only a fresh issue of Rs 600 crore by the Mumbai-based company, and there is no offer-for-sale component. The actual issue size was Rs 750 crore, which was reduced to Rs 600 crore after fundraising in a pre-IPO placement.
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Rashi Peripherals is among the national distribution partners for global technology brands in India for information and communication technology (ICT) products.
Its revenue from operations recorded a CAGR of 26.32 percent in FY21-FY23 to Rs 9,454.3 crore in the year ended March FY23, while the topline was at Rs 5,468.5 crore for the six months ended September FY24.
In the pre-IPO placement, Volrado Venture Partners Fund-III-BETA and ace investor Madhusudan Kela's wife Madhuri Madhusudan Kela invested Rs 100 crore and Rs 50 crore.
Volrado and Kela are the only public shareholders in the company holding a 10.35 percent stake, while the remaining 89.65 percent of shares are held by promoters.
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