Rashi Peripherals IPO GMP, Subscription, And Other Details

Rashi Peripherals IPO valued at ₹600 crore, consists solely of a fresh issue of 1.93 crore equity shares, with no Offer for Sale (OFS) component. Rashi Peripherals IPO price band is set at ₹295 to ₹311 per share. The minimum lot size for an application is 48 Shares. The minimum amount of investment required by retail investors is ₹14,928. 

Rashi Peripherals IPO Subscription

Opening for subscription on Wednesday, February 7, and scheduled to close today, Friday, February 9, Rashi Peripherals’ IPO has progressed smoothly, experiencing a subscription status of 3.28 times by 10:04 am today. The retail investor portion was oversubscribed by 3.59 times and non-institutional investors (NII) (portion saw an oversubscription of 5.96 times. QIB portion was subscribed 72%.

The IPO’s allocation structure reserves not more than 50% of the shares for Qualified Institutional Buyers (QIBs), a minimum of 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for Retail Investors, ensuring broad participation across investor categories.

Rashi Peripherals IPO GMP

Rashi Peripherals IPO GMP currently stands at ₹75. This is lower than the ₹85 reported when the IPO opened on February 7. Taking the upper ban of the IPO, the stock is expected to list at ₹386, indicating around 24% premium on listing. It is important to note that while IPO GMPs can provide some insight into market sentiment towards an IPO, it's not always a reliable predictor of the stock's performance on listing.

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Rashi Peripherals IPO Details

The company intends to use the net proceeds from the offering for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and addressing general corporate purposes.

Prior to its initial public offering (IPO) launch for public subscription on Wednesday, February 7, 2024, the company successfully secured ₹180 crores from anchor investors. This allocation was made on Tuesday, February 6, 2024, wherein 57.87 lakh equity shares were allotted to anchor investors at ₹311 per share.

Notable participants in the anchor round include both foreign and domestic institutions, such as White Oak Capital, Ashoka India, ICICI Prudential, Volrado Ventures, Bajaj Alliance Life Insurance, Aditya Birla Sun Life Insurance, SBI General Insurance, BCAD, Singularity Growth Opportunity Fund, and Authum Investments.

Rashi Peripherals IPO Listing

Shares of the company are tentatively scheduled to be listed on both the BSE and NSE, on Wednesday, February 14.

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