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Business News/ Markets / Ipo/  Rashi Peripherals IPO opens today. GMP, review, subscription status, other details. Apply or not?
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Rashi Peripherals IPO opens today. GMP, review, subscription status, other details. Apply or not?

Rashi Peripherals IPO GMP: Shares of the global tech distributor company are available at a premium of ₹71 in the grey market today, say market observers

Rashi Peripherals IPO price: The company has fixed price band of the public issue at ₹295 to ₹311 per equity share. (https://www.rptechindia.com/)Premium
Rashi Peripherals IPO price: The company has fixed price band of the public issue at 295 to 311 per equity share. (https://www.rptechindia.com/)

Rashi Peripherals IPO: The initial public offering (IPO) of Rashi Peripherals Limited has hit the primary market today. The public issue will remain open for bidders till 9th February 2024. The global tech brand distributor company has fixed Rashi Peripherals' IPO price at 295 to 311 per equity share. The book build issue aims to raise 600 crore via the issuance of fresh shares. The public offer is proposed for listing on BSE and NSE.

Ahead of Rashi Peripherals IPO subscription date, shares of the company have made their debut in the grey market as well. According to stock market observers, shares of Rashi Peripherals are available at a premium of 71 per share in the grey market today.

Rashi Peripherals IPO subscription status

By 2:33 PM on day one of bidding, the book build issue has been subscribed 0.58 times whereas its retail portion has been booked 0.87 times. The NII segment of the public offer has been booked 0.69 times.

Rashi Peripherals IPO
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Rashi Peripherals IPO

Important Rashi Peripherals IPO details

1] Rashi Peripherals IPO GMP: Shares of the global tech brand distributor company are available at a premium of 71 in the grey market today.

2] Rashi Peripherals IPO price: The company has fixed price band of the public issue at 295 to 311 per equity share.

3] Rashi Peripherals IPO date: The public issue has opened today and will remain open till 9th February 2024.

4] Rashi Peripherals IPO size: The company aims to raise 600 crore from this book build issue via issuance of fresh shares only.

5] Rashi Peripherals IPO lot size: A bidder will be able to apply in lots and one lot of the book build issue comprises 48 company shares.

6] Rashi Peripherals IPO allotment date: In the wake of T+3 listing rules, finalization of the share allocation is most likely either on 10th February 2024 or on 12th February 2024.

7] Rashi Peripherals IPO registrar: Link Intime India Private Limited has been appointed as an official registrar of the Rashi Peripherals IPO.

8] Rashi Peripherals IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Rashi Peripherals IPO listing date: The public issue is most likely to be listed on 14th February 2024 i.e. Wednesday next week.

Rashi Peripherals IPO: Apply or not?

10] Rashi Peripherals IPO review: Speaking on the public issue, Parth Shah, Research Analyst at StoxBox said, "With the increasing penetration of internet connectivity across the geographies of rural and urban India, the number of smartphones, social media users, and online shoppers in India is on the rise. Also, the IT penetration in non-metro cities in India has increased due to the penetration of smartphones and government-enabled village knowledge centers, leading to increased awareness which in turn is driving demand for ICT products. Hence, there is a requirement for ICT distributors and resellers to have a pan-India presence. Therefore, Rashi Peripherals Ltd. emerges as one of the partners to bridge the gap for such emerging requirements 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."

Giving a 'subscribe' tag to the book build issue, the StoxBox expert said, "On the valuation front, the issue is fairly valued compared to its peers. However, due to the highly competitive environment in which it operates and the thin margins of the business, we recommend investors subscribe to the issue for listing gains."

Advising primary market investors to apply for the public issue for the long term, Sushil Finance said, "The company is asking for a PE multiple of 10.54 times on the upper end of the price band and using diluted EPS for FY23 ( 29.5) and a PE of 8.53 times annualizing diluted EPS for H1FY24 ( 18.24). The industry average is 9.92 times. The issue seems fully priced. Looking at all the factors, risks, opportunities, and valuation, investors may apply for the issue with a long-term view."

Ventura Securities, Swastika Investmart, and BP Equities have also given subscribe tags to the book build issue while Axis Capital has not rated the book build issue.

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.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 07 Feb 2024, 06:16 AM IST
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