Rashi Peripherals Limited, among the leading national distribution partners for global technology brands in India for information and communications technology products in terms of revenues and distribution network in Fiscal 2023, has fixed the price band of Rs 295 to Rs 311 per Equity Share for its initial public offer. The IPO will open on Wednesday, February 7, 2024, for subscription and close on Friday, February 9, 2024. Investors can bid for a minimum of 48 Equity Shares and in multiples of 48 Equity Shares thereafter. The issue is entirely a fresh issue of Equity Shares aggregating to Rs 6,000 million with no offer for sale component.
Out of the net proceeds from the fresh issue, an amount up to Rs 3,260 million will be used for prepayment or scheduled re-payment of all or a portion of certain outstanding borrowings availed by the Company, up to Rs 2,200 million will be for funding working capital requirements of the Company and the balance amount from the net proceeds will be utilised for general corporate purposes.
Rashi Peripherals Limited was incorporated in 1989. It is one of the fastest growing distribution partners for global technology brands in India in terms of revenue growth between Fiscal 2021 and Fiscal 2023. It differentiates itself by offering end-to-end value-added services such as pre-sale activities, solutions design, technical support, marketing services, credit solutions and warranty management services. As of September 30, 2023, it is a national distribution partner for 52 global technology brands. It has a pan-India distribution network comprises 50 branches that operate for sales and as service centers and 63 warehouses, covering 680 locations in India, as of September 30, 2023.
The Mumbai-based company is a national distribution partner of global technology brands in product categories such as personal computing, mobility, enterprise, embedded solutions, components, lifestyle, storage and memory devices, power and accessories. It distributes products for global technology brands such as ASUS Global Pte. Ltd., Dell International Services India Private Limited, HP India Sales Private Limited, Lenovo India Private Limited, Logitech Asia Pacific Limited, NVIDIA Corporation, Intel Americas, Inc., Western Digital (UK) Limited, Schneider Electric IT business India Private Limited, Eaton Power Quality Private Limited, ECS Industrial Computer Co. Ltd., Belkin Asia Pacific Limited, TPV Technology India Pvt Ltd., LG Electronics India Private Limited, Toshiba Electronic
