Rashi Peripherals Limited (“RP Tech”), a prominent national distribution partner for global technology brands in India, has established the price band for its upcoming Initial Public Offer (IPO) at ₹295 to ₹311 per Equity Share. The IPO subscription window is scheduled to open on Wednesday, February 7, 2024, and will conclude on Friday, February 9, 2024. Investors can participate by bidding for a minimum of 48 Equity Shares and in multiples of 48 Equity Shares thereafter.
Fresh Issue and Utilization of Proceeds
The IPO consists entirely of a fresh issue of Equity Shares, aggregating to ₹6,000 million, with no offer-for-sale component. From the net proceeds of the fresh issue, up to ₹3,260 million will be allocated for the prepayment or scheduled re-payment of certain outstanding borrowings. Another ₹2,200 million will be utilized for funding the working capital requirements of the Company, and the remaining balance will be allocated for general corporate purposes.
Fast-Growing Distribution Partner with End-to-End Services
Incorporated in 1989, Rashi Peripherals Limited stands out as one of the fastest-growing distribution partners for global technology brands in India. The company, according to a Technopak report, has witnessed substantial revenue growth between Fiscal 2021 and Fiscal 2023. Rashi Peripherals offers comprehensive end-to-end value-added services, including pre-sale activities, solutions design, technical support, marketing services, credit solutions, and warranty management services. As of September 30, 2023, it serves as a national distribution partner for 52 global technology brands.
Robust Pan-India Distribution Network
With a strong presence across the country, Rashi Peripherals Limited’s distribution network comprises 50 branches operating for sales and service centers, along with 63 warehouses, covering 680 locations in India, as of September 30, 2023.
Strategic Partnerships with Global Tech Brands
Headquartered in Mumbai, the company holds national distribution partnerships with leading global technology brands, covering product categories such as personal computing, mobility, enterprise, embedded solutions, components, lifestyle, storage and memory devices, power, and accessories. Some notable brands in their portfolio include ASUS, Dell, HP, Lenovo, Logitech, NVIDIA, Intel, Western Digital, Schneider Electric, LG Electronics, Toshiba, and Harman International.
Expansion Plans and Geographic Presence
RPTech aims to expand its footprint in non-metro cities, including tier I and tier II cities and other rural areas, identified as growing centers of consumption for ICT products. The Technopak Report provides insights into Rashi Peripherals Limited’s strategy for geographic expansion in alignment with evolving market demands.
Lead Managers and Financial Advisors
JM Financial Limited and ICICI Securities Limited have been appointed as the book-running lead managers to the Offer, overseeing the strategic and financial aspects of the IPO process.
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