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Business News/ Markets / Ipo/  Rashi Peripherals to raise 750 cr in IPO
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Rashi Peripherals to raise ₹750 cr in IPO

The company plans to use ₹400 crore from the IPO proceeds to repay debt and ₹200 crore to meet working capital needs.

Photo: ShutterstockPremium
Photo: Shutterstock

MUMBAI : Mumbai-based Rashi Peripherals Ltd on Thursday filed its draft papers with the Securities and Exchange Board of India (Sebi)) to raise up to 750 crore through an initial public offering (IPO).

The company plans to use 400 crore from the IPO proceeds to repay debt and 200 crore to meet working capital needs.

The public issue is completely fresh issue of shares with no offer-for-sale component. The company may consider a private placement of equity shares for up to 150 crore. If such placement is completed, the fresh issue size will be reduced.

Founded in 1989, Rashi Peripherals is a national distribution partner for global technology brands in India. The company distributes products from 48 global technology brands including Asus, HP, Lenovo, Logitech, Nvidia and LG. It has a distribution network of 50 branches, 50 service centres, and 62 warehouses that serve over 8,600 B2B customers in 730 locations.

The company’s cash and cash equivalents were 37.8 crore as at the end of the six-month period that ended on 30 September, 2022.

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ABOUT THE AUTHOR
Mayur Bhalerao
"Mayur spearheads data-driven reporting on IPOs for Mint. He also covers market trends, and corporate announcements to ensure comprehensive coverage of the financial landscape. Mayur believes in harnessing the power of Bloomberg Terminal and Capital Line to extract and disseminate critical financial data to cross-functional teams within the newsroom and beyond. disseminate critical financial data to cross-functional teams within the newsroom and beyond."
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Published: 19 Jan 2023, 10:15 PM IST
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