Rashi Peripherals IPO listing today: Experts indicate up to 20% premium; check GMP

Rashi Peripherals IPO: The listing date of the initial public offering (IPO) of Rashi Peripherals has been fixed on February 14, 2024. Rashi Peripherals share price will list on BSE and NSE and it will become open for trade on the bourses from 10:00 AM during Wednesday deals.

According to stock market experts, Rashi Peripherals IPO received a strong response from investors and the issue was oversubscribed at 62.95 times on the third and final day of bidding. The secondary market mood is also favorable for the book build issue, said experts and the mainboard issue appears fully priced based upon its FY24 annualized earnings.

Over the years, Rashi Peripherals has continuously expanded its operations and its distribution network and currently has one of the largest ICT product distribution networks in India. The company has added new global technology brands such as Asus, Dell, HP, Lenovo, Logitech, etc to its portfolio and worked with them to distribute products across categories which also helped the company build business relations with these brands, according to analysts.

Also Read: Rashi Peripherals IPO: Issue oversubscribed on day 3 led by NIIs, retail investors

See Rashi Peripherals IPO details below:

Rashi Peripherals IPO listing price prediction:

Speaking on Rashi Peripherals IPO listing, Parth Shah, Research Analyst, StoxBox said, ‘’Rashi Peripherals emerges as one of the partners to bridge the gap for such emerging demand in India, given its diverse marquee suppliers and long-grown customer base. Hence, we expect the company to benefit from such a demand scenario in the long term. However, given the highly competitive environment and thin margins of the business, we recommend investors who will be allotted the shares to reap the benefits of listing gains.''

Analysts noted that Rashi Peripherals did well for FY21 and FY22 due to surge in demand of products. For FY23, though it marked higher top line, it posted lower bottom lines due to reduced margins after vanning out of pandemic euphoria. ‘’Its H1-FY24 performance indicates restoration of trends, and the management is confident of maintaining the earning trends,'' said Amit Goel, Co-Founder and Chief Global Strategist at Pace 360

‘’We expect the listing of Rashi Peripherals IPO could be around 370-380 with listing gain of around 20 per cent. Considering its plans, Investors may park funds for the medium to long term rewards,'' added Goel.

Also, Arun Kejriwal, Founder of Kejriwal Research and Investment Services is expecting around ₹60 to ₹70 per share listing gain for the allottees.

‘’One can assume that Rashi Peripherals share price may be listed on BSE and NSE in ₹371 to ₹381 per share range. However, the stock is expected to attract interest post-listing and it may touch ₹400 apiece levels after making a decent debut on Dalal Street. So, allottees are advised to allow the stock to settle down after listing,'' said Kejriwal.

Also Read: Rashi Peripherals IPO: GMP reflects decent debut of shares ahead of listing date

Rashi Peripherals IPO GMP Today

Rashi Peripherals IPO GMP or grey market premium is ₹43 per share. This indicates Rashi Peripherals share price were trading at a premium of ₹43 according to investorgain.com. 'Grey market premium' indicates investors' readiness to pay more than the issue price. The lowest GMP is Re 0, while the highest GMP is ₹85.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rashi Peripherals is ₹354 apiece, which is 13.83 per cent higher than the IPO price of ₹311.

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 decisions.