Rashi Peripherals to raise ₹750 cr in IPO
MUMBAI : Mumbai-based Rashi Peripherals Ltd on Thursday filed its draft papers with the Securities and Exchange Board of India (Sebi)) to raise up to ₹750 crore through an initial public offering (IPO).
The company plans to use ₹400 crore from the IPO proceeds to repay debt and ₹200 crore to meet working capital needs.
The public issue is completely fresh issue of shares with no offer-for-sale component. The company may consider a private placement of equity shares for up to ₹150 crore. If such placement is completed, the fresh issue size will be reduced.
Founded in 1989, Rashi Peripherals is a national distribution partner for global technology brands in India. The company distributes products from 48 global technology brands including Asus, HP, Lenovo, Logitech, Nvidia and LG. It has a distribution network of 50 branches, 50 service centres, and 62 warehouses that serve over 8,600 B2B customers in 730 locations.
The company’s cash and cash equivalents were ₹37.8 crore as at the end of the six-month period that ended on 30 September, 2022.
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