Rashi Peripherals IPO Date – GMP, Lot Size, Reservation and how to apply?

The Rashi Peripherals IPO, valued at Rs 600.00 crores, comprises a fresh issue of 1.93 crore shares. Subscription for the IPO commences on February 7, 2024, and concludes on February 9, 2024.

Rashi Peripherals IPO Date

The Rashi Peripherals IPO, valued at Rs 600.00 crores, comprises an entirely fresh issue of 1.93 crore shares. Subscriptions for the IPO are accepted from February 7 to February 9, 2024. 

IPO DatesFebruary 7, 2024 – February 9, 2024
Listing DateFebruary 14, 2024 (tentative)
Face Value₹5 per share
Price Band₹295 – ₹311 per share
Lot Size48 Shares
Total Issue Size19,292,604 shares (aggregating up to ₹600.00 Cr)
Fresh Issue19,292,604 shares (aggregating up to ₹600.00 Cr)
Issue TypeBook Built Issue
Listing ExchangeBSE, NSE
Shareholding Pre-Issue46,607,061 shares
Shareholding Post-Issue65,899,665 shares

The allotment is anticipated to be determined by Monday, February 12, 2024, and the listing on BSE and NSE is tentatively scheduled for Wednesday, February 14, 2024.

Rashi Peripherals IPO GMP 

The current Grey Market Premium (GMP) for the Rashi Peripherals IPO is ₹85 per share. This indicates that the unlisted shares are trading ₹85 above the upper end of the issue price band of ₹311 in the unofficial grey market.

Rashi Peripherals IPO Date

Rashi Peripherals IPO Lot Size

Minimum Lot Size: 48 Shares

Investment Amounts:

  • Retail Investors:
    • Minimum Investment: ₹14,928 for 48 shares
    • Maximum Investment: ₹194,064 for 1362 shares (28 lots)
  • Small-HNIs (S-HNI):
    • Minimum Investment: ₹208,992 for 14 lots (672 shares)
    • Maximum Investment: ₹985,248 for 663 lots (31,824 shares)
  • Big-HNIs (B-HNI):
    • Minimum Investment: ₹1,000,176 for 67 lots (3,216 shares)

Notes:

  • You can only bid for shares in multiples of the lot size (48 shares).
  • The price per share is set within the price band of ₹295 – ₹311. The final price will be determined after the book building process.
  • The investment amount mentioned above is based on the upper end of the price band (₹311 per share).

Rashi Peripherals IPO Reservation Details 

Allocation of shares in the Rashi Peripherals IPO is divided among three main investor categories:

Qualified Institutional Buyers (QIBs):

  • Allocation: Not more than 50% of the net offer size.
  • Includes: Financial institutions, banks, FIIs, and mutual funds registered with SEBI.

Retail Individual Investors (RIIs):

  • Allocation: Not less than 35% of the net offer size.
  • Includes: Retail individual investors and NRIs who apply up to ₹2 Lakhs for shares.

Non-Institutional Investors (NII)(HNI):

  • Allocation: Not less than 15% of the net offer size.
  • Includes: Individual investors and NRIs applying for more than ₹2 Lakhs and companies, trusts, etc.
  • Further subdivided into:
    • Small HNI (sHNI): NII bids between ₹2 Lakhs – ₹10 Lakhs. Allocate 1/3 of NII category shares.
    • Big HNI (bHNI): NII bids above ₹10 Lakhs. Allocate 2/3 of NII category shares.

Rashi Peripherals IPO: Promoter Holding Details

Promoters:

  • Krishna Kumar Choudhary
  • Sureshkumar Pansari
  • Kapal Suresh Pansari
  • Keshav Krishna Kumar Choudhary
  • Chaman Pansari
  • Krishna Kumar Choudhary (HUF)
  • Suresh M Pansari HUF

Pre-Issue Shareholding:

  • 89.65% of the total outstanding shares

Post-Issue Shareholding:

  • 63.41% of the total outstanding shares

Change in Holding:

  • There will be a dilution of 26.24% in promoter holding due to the IPO.
  • The promoters currently hold a significant majority stake in the company, representing nearly 90% before the IPO.

Rashi Peripherals Limited Financial Information 

  • Revenue:
    • Increased by 1.58% from ₹5,930.24 Crore in FY2021 to ₹9,468.95 Crore in FY2023.
    • However, growth slowed down significantly compared to the previous year’s increase of 14.14%.
  • Profit After Tax (PAT):
    • Declined by 32.42% from ₹182.51 Crore in FY2022 to ₹123.34 Crore in FY2023.
    • This drop in profitability despite revenue growth raises concerns about cost management and profit margins.
  • Balance Sheet:
    • Assets increased by 46.4% year-on-year to ₹4,058.64 Crore in FY2023.
  • Net Worth:
    • Grew by 18.19% between FY2023 and FY2022.
    • Increased by 10.20% between Sep 2023 and Mar 2023.
  • Reserves & Surplus:
    • Increased by 18.38% between FY2023 and FY2022.
    • Decreased by 10.05% between Sep 2023 and Mar 2023.
  • Total Borrowing:
    • Increased by 57.10% between FY2023 and FY2022.
    • Increased by 31.54% between Sep 2023 and Mar 2023.

How to apply for Rashi Peripherals IPO?

Applying through your existing Demat account:

  • Eligibility: You must have a Demat account with a broker who allows participation in IPOs. Popular options include Zerodha, Upstox, 5paisa, Angel Broking, and ICICI Direct.
  • Process:
    • Log in to your broker’s platform.
    • Locate the “IPO” section and find the Rashi Peripherals IPO.
    • Enter the number of shares you want to apply for (minimum 48 shares).
    • Choose your bidding price if offered (within the ₹295 – ₹311 band).
    • Submit your application and complete the UPI mandate for blocking funds.
    • Make sure your connected bank account has enough funds in it.
 

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