rashi peripherals shares: Rashi Peripherals shares to list tomorrow. What GMP signals ahead of debut?

The shares of Rashi Peripherals will debut on the exchanges on Wednesday. Ahead of the listing, the company’s shares are trading with a premium of Rs 61 in the unlisted market.
Considering the upper price band of Rs 311, the stock is expected to list with 20% premium.However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.

The IPO of Rashi Peripherals was subscribed nearly 60 times at close, driven by heavy bidding from non-institutional investors. Most analysts were positive on the issue as the company has a good financial track record and robust distribution network.
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Following the successful IPO, Kapal Pansari, Managing Director of Rashi Peripherals said, “We extend our heartfelt gratitude to all our valued investors. Your trust and support have been instrumental in our journey, and we’re excited for the opportunities that lie ahead.”

Rashi Peripherals is among the leading national distribution partners for global technology brands in India for information and communications technology (ICT) products in terms of revenues and distribution network in FY23, boasting partnerships with over 52 global technology brands and offering over 10,000 products.Before their IPO, the company successfully completed a pre-IPO placement by offering 48.23 lakh shares to private investors under which Madhu Kela picked up some stake.In the six months ended September 2023 period, revenue from operations grew 9% year-on-year (YoY) to Rs 5,467 crore, while net profit increased 7% to Rs 72 crore.

The company proposes to use the net proceeds repayment of debt, funding working capital requirements and the rest for general corporate purposes.

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