Taking its IPO to Rs 750 crore, What Could Rashi Peripherals Be up to?

Rashi Peripherals, one of India’s leading IT products and solutions distributors, has filed papers for an initial public offering (IPO) worth Rs 750 crore ($103 million). The company plans to list on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

The IPO, which ICICI Securities and Edelweiss Financial Services are managing, will see the company issue fresh shares worth Rs 150 crore ($20.6 million) and an offer for sale of up to Rs 600 crore ($82.4 million) by existing shareholders. The proceeds from the IPO will be used for expansion and debt repayment.

Rashi Peripherals, which was founded in 1986, has a strong presence in the Indian market with a wide range of IT products and solutions. The company has partnerships with several leading technology brands, such as Dell, HP, Lenovo, and Cisco. Rashi Peripherals also has a strong distribution network across India, with a presence in over 1,000 towns and cities.

The company has reported a revenue of Rs 5,962 crore for the financial year ending March 2021 and a net profit of Rs. 73.5 crores. The company has grown at a CAGR of 15% over the last 5 years.

The IPO is expected to be a big boost for the company as it will help it expand its operations and strengthen its market position. It will also provide an opportunity for existing shareholders to exit the company. The company’s listing on the stock exchange will also provide an exit route for the venture capital firms and private equity investors who have invested in the company.

The timing of the IPO is interesting as the Indian stock markets are on a roll, with the NSE Nifty and the BSE Sensex hitting new all-time highs, making it a good time for companies to go public.

The IPO is expected to be open for subscription in the coming weeks, and the company is likely to set the price band for the issue in the coming days.