Rashi Peripherals IPO last day: Check latest GMP, subscription status, review, key dates, more. Apply or not?

Rashi Peripherals IPO which opened for subscription on Wednesday, February 07, will close today (Friday, February 09). Rashi Peripherals IPO got through its second day quite smoothly, with a Rashi IPO subscription status of 3.19 times. Rashi Peripherals IPO's retail investors (3.46 times) and non-institutional investors (NII) (5.88 times) were oversubscribed at the end of the second day.

Investors who are considering the issue have the opportunity to subscribe today. When compared positively to its listed peer, Redington India Limited, the company's PE is 10-10.54 times. The founder of Kejriwal Research and Investment Services, Arun Kejriwal, recommended subscribing to the issue.

Also Read: Rashi Peripherals IPO, Jana SFB IPO, Capital SFB IPO last day of subscription today: Which ones should you choose?

The spectrum of brands served by Rashi Peripherals is well-positioned to capture both volume and value growth, according to Mohit Gulati, CIO & Managing Partner of ITI Growth Opportunities Fund, who also feels that India's consumer trends are moving up the value chain.

Rashi IPO price band has been fixed in the range of ₹295 to ₹311 per equity share of face value of ₹5. Rashi Peripherals IPO garnered ₹180 crores from anchor investors on Tuesday, February 06. Rashi Peripherals IPO lot size is 48 equity shares and in multiples of 48 equity shares thereafter.

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Rashi Peripherals IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

Also Read: Rashi Peripherals IPO sails smoothly on the second day of bidding, issue booked 3.19x; GMP rises

Rashi Peripherals IPO details

Rashi Peripherals IPO, which is worth ₹600 crore, is completely a fresh issue of 1.93 crore equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The company intends to use the net proceeds of the offer to finance the following goals: prepayment or scheduled repayment of all or a portion of the company's existing borrowings; financing the company's working capital needs as well as general corporate purposes.

The registrar for the Rashi Peripherals IPO is Link Intime India Private Ltd, while the book running lead managers are JM Financial Limited and ICICI Securities Limited.

Also Read: Rashi Peripherals IPO Day 2: GMP rises, check review, key dates, more. Should you subscribe?

Rashi Peripherals IPO GMP today

Rashi IPO GMP or Rashi Peripherals IPO grey market premium is +75. This indicates Rashi Peripherals share price were trading at a premium of ₹75 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the Rashi Peripherals IPO expected listing price was indicated at ₹386 apiece, which is 24.12% higher than the IPO price of ₹311.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Rashi Peripherals IPO Review

Anand Rathi Share and Stock Brokers Ltd.

The brokerage claims that Rashi Peripherals Limited is an Indian distributor of international technology goods. They focus on information and communication technology (ICT)-related goods. Value-added services like pre-sales, technical support, marketing, credit solutions, and warranty management services are among the services the firm offers.

“At the upper price band company is valued at P/E of 16.6x with a market cap of ₹20,494.80 million post issue of equity shares. We believe that valuations of the company is fairly priced and recommend a “Subscribe-Long Term” rating to the IPO,” the brokerage said. 

Also Read: Rashi Peripherals IPO: Issue fully booked on day 1, retail portion subscribed 1.36 times; check GMP

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.