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Rashi Peripherals IPO is a book-built issue of Rs 600.00 crores. The issue is entirely a fresh issue of 1.93 crore shares.
The IPO opens for subscription on February 7, 2024, and closes on February 9, 2024. The price band is set at ₹295 to ₹311 per share. The minimum lot size for an application is 48 Shares.
Company Summary
This company is a leading value-added national distribution partner for global technology brands in India for information and communications technology (“ICT”) products. They offer end-to-end value-added services such as pre-sale activities, solutions design, technical support, marketing services, credit solutions, and warranty management services.
The company was incorporated in 1989 and has more than 33 years of experience in the distribution of ICT products in India. Over the years, they have continually expanded their operations and distributed 293.63 million units of ICT products.
The company has two business verticals:
- Personal computing, enterprise, and cloud solutions (PES): This includes personal computing devices, enterprise solutions, embedded designs/products, and cloud computing.
- Lifestyle and IT essentials (LIT): This includes the distribution of products such as (i) components such as graphics cards, central processing units (CPUs) and motherboards; (ii) storage and memory devices; (iii) lifestyle peripherals and accessories such as keyboards, mice, webcams, monitors, wearables, casting devices, fitness trackers and gaming accessories; (iv) power devices such as UPS and inverters; and (v) networking and mobility devices.
The company’s clients include 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, and Toshiba Electronic Components Taiwan Corporation, among others.
As of September 30, 2023, the company had 1,433 employees, including 549 employees in the sales and marketing team and 64 employees in the technical support team.
Company Strengths
As of September 30, 2023, Rashi Peripherals is the national distributor for 52 global technology brands and has 50 branches, and 63 warehouses across India, with 8657 distributors across 680 locations in 28 States and Union Territories in India.
They are a major player catering to the Indian consumer demand in product categories like processors, graphic cards, and internal storage in Fiscal 2022.
They command significant market share in India in product categories such as processors (40%), pen drives (50%), hard drives (27%), keyboards and mice (20%), monitors (25%), UPS (10%), laptops (10%), desktops (15%), routers (30%), and switches (5%), in Fiscal 2022.
They have contributed to approximately 46% share to the graphic cards demand and approximately 20% to the motherboard demand in India in Fiscal 2022.
Company Financials
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 4,058.64 | 2,798.60 | 2,669.76 | 594.39 |
| Revenue | 5,473.27 | 9,468.95 | 9,321.92 | 5,930.24 |
| Profit After Tax | 72.02 | 123.34 | 182.51 | 136.35 |
| Net Worth | 772.74 | 700.12 | 575.07 | 394.19 |
| Reserves and Surplus | 686.24 | 760.36 | 557.84 | 395.99 |
| Total Borrowing | 1,395.20 | 1,065.76 | 881.74 | 488.99 |
Amount in crore |
Objectives of the IPO
The company proposes to utilize the Net Proceeds towards funding the following objects:
- prepayment or scheduled repayment of all or a portion of certain outstanding borrowings availed by their Company
- Funding working capital requirements of their Company
- General corporate purposes
Promoters of the company:
The promoters of the Company are Krishna Kumar Choudhary, Sureshkumar Pansari, Kapal Suresh Pansari, Keshav Krishna Kumar Choudhary, Chaman Pansari, Krishna Kumar Choudhary (HUF), and Suresh M Pansari HUF.
IPO details
| IPO Date | February 7, 2024 to February 9, 2024 |
| Listing Date | Wednesday, February 14, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹295 to ₹311 per share |
| Lot Size | 48 Shares |
| Total Issue Size | 19,292,604 shares (aggregating up to ₹600.00 Cr) |
| Fresh Issue | 19,292,604 shares (aggregating up to ₹600.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 48 | ₹14,928 |
| Retail (Max) | 13 | 624 | ₹194,064 |
| Small-HNI (Min) | 14 | 672 | ₹208,992 |
| Small-HNI (Max) | 66 | 3168 | ₹985,248 |
| Large-HNI (Min) | 67 | 3216 | ₹1,000,176 |
Allotment schedule
| Basis of Allotment | Monday, February 12, 2024 |
| Initiation of Refunds | Tuesday, February 13, 2024 |
| Credit of Shares to Demat | Tuesday, February 13, 2024 |
| Listing Date | Wednesday, February 14, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 9, 2024 |
IPO reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
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