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Business News/ Markets / Ipo/  Rashi Peripherals share price makes a lukewarm debut, stock lists with 9.16% premium at 339.50 on NSE
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Rashi Peripherals share price makes a lukewarm debut, stock lists with 9.16% premium at ₹339.50 on NSE

Rashi Peripherals IPO lists at ₹339.50 on NSE, 9.16% higher than issue price. Rashi Peripherals IPO worth ₹600 crore is a fresh issue with no offer for sale.

Rashi Peripherals share price lists on the bourses today. (https://www.rptechindia.com/)Premium
Rashi Peripherals share price lists on the bourses today. (https://www.rptechindia.com/)

Rashi Peripherals share price made a tepid debut on the bourses today. On NSE, Rashi Peripherals share price was listed at 339.50 per share, 9.16% higher than the issue price of 311. On BSE, Rashi Peripherals share price today was listed at 335 apiece, up 7.72% than the issue price.

Experts anticipated Rashi Peripherals share price to list in the range of 371 to 381 per share.

On the third day, Rashi Peripherals IPO subscription status was 59.71 times, as per BSE data. Non-institutional investors ((NII) led Rashi Peripherals IPO subscription numbers on the last day. NII portion has been subscribed 62.75 time, followed by retail investors booked 10.44 times.

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

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Rashi Peripherals IPO opened for subscription on Wednesday, February 07, and closed on Friday, February 09. Rashi IPO price band was 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 was 48 equity shares and in multiples of 48 equity shares thereafter.

Also Read: Rashi Peripherals IPO allotment status announced. Latest GMP, how to check allotment status

Rashi Peripherals IPO details.
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Rashi Peripherals IPO details.

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

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: Allotment date likely today. GMP jumps, how to check allotment status online

Rashi Peripherals IPO GMP today

Rashi IPO GMP or grey market premium is +43. This indicates Rashi Peripherals share price were trading at a premium of 43 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 estimated listing price of Rashi Peripherals share price was indicated at 354 apiece, which is 13.83% higher than the IPO price of 311.

Based on last 19 sessions grey market activities, today IPO GMP trending upward and expects a strong listing. The lowest GMP is 0, while the highest GMP is 85, as per investorgain.com analysts.

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

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

 

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Published: 14 Feb 2024, 10:00 AM IST
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