Rashi Peripherals debuts on the exchange; lists at 9.16% premium

Mumbai, 14th February 2024 (GNI) : (L-R) Mr. Keshav Choudhary, Director, Mr. Kapal Pansari, MD, Mr. Krishna Kumar Choudhary, Chairman of Rashi Peripherals Limited, Dr. Harish Ahuja from NSE and Mrs. Choudhary at the prestigious Listing Ceremony at NSE in Mumbai – photo by Sumant Gajinkar GNI

Rashi Peripherals debuts on the exchange; lists at 9.16% premium

Shares of Rashi Peripherals made its debut on the exchange at a premium of 9.16%, higher than the IPO’s issue price of Rs 311.

The scrip listed Rs 335 per share on BSE and Rs 339.50 per share on NSE, at a premium of 7.71% and 9.16% respectively. The company’s share price closed at Rs 320.55 per share on the BSE, a 3.07% premium, and at Rs 320.60 per share on the NSE, a 3.09% premium.

As per NSE, the total quantity traded stood at 154,53,809 lakh shares, on BSE the total Quantity stood at 14,07,376 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 558.56 crore.

Mr. Kapal Pansari, MD – Rashi Peripherals Limited, said “We are immensely grateful to all our investors for their unwavering support and confidence in Rashi Peripherals. Your trust in our vision and commitment to innovation has propelled us to this momentous debut on the exchange. As we embark on this exciting journey, we remain steadfast in our dedication to delivering value and driving sustainable growth. Thank you for joining us on this remarkable adventure.”

The Market Capitalization of the Company at today’s closing price stood at Rs. 2,112.41 Crore as per BSE and Rs. 2,112.74 Crore as per NSE.

The Initial Public Offering of Rashi Peripherals Limited was subscribed 59.71 times. Retail Portion was subscribed 10.44 times, Non-Institutional Investors Portion with 62.75 times, whereas Qualified Institutional Buyer Portion subscribed 143.66 times.

Rashi Peripherals Limited was incorporated in 1989. It is one of the fastest growing distribution partners for global technology brands in India in terms of revenue growth between Fiscal 2021 and Fiscal 2023, according to a Technopak report dated January 19, 2024 mentioned in the red herring prospectus dated January 29, 2024 (“RHP”, and such report, the “Technopak Report”). It differentiates itself by offering end-to-end value-added services such as pre-sale activities, solutions design, technical support, marketing services, credit solutions and warranty management services. As of September 30, 2023, it is a national distribution partner for 52 global technology brands.

It has a pan-India distribution network comprises 50 branches that operate for sales and as service centers and 63 warehouses, covering 680 locations in India, as of September 30, 2023.

The Mumbai-based company is a national distribution partner of global technology brands in product categories such as personal computing, mobility, enterprise, embedded solutions, components, lifestyle, storage and memory devices, power and accessories. It distributes products for global technology brands such as ASUS Global Pte. Ltd., Dell International Services India Private Limited, HP India Sales Private Limited, Lenovo India Private Limited, Logitech Asia Pacific Limited, NVIDIA Corporation, Intel Americas, Inc., Western Digital (UK) Limited, Schneider Electric IT business India Private Limited, Eaton Power Quality Private Limited, ECS Industrial Computer Co. Ltd., Belkin Asia Pacific Limited, TPV Technology India Pvt Ltd., LG Electronics India Private Limited, Toshiba Electronic Components Taiwan Corporation, and Harman International (India) Private Limited among others.ends GNI