Also Read: Rashi Peripherals IPO opens today. GMP, review, subscription status, other details. Apply or not?
On day 1, Rashi Peripherals IPO’s retail investors portion has been subscribed to 1.36 times, Non Institutional Investors (NII) portion is subscribed to 1.87 times, and Qualified Institutional Buyers (QIB) portion is booked 1%.
Rashi Peripherals IPO opened for subscription on Wednesday, February 07, and will close on Friday, February 09. Rashi IPO price band has been fixed in the range of ₹295 to ₹311 per equity share of face value of ₹5. Rashi Peripherals IPO garnered ₹180 crores from anchor investors on Tuesday, February 06. Rashi Peripherals IPO lot size is 48 equity shares and in multiples of 48 equity shares thereafter.
Also Read: Rashi Peripherals IPO opens tomorrow: GMP, issue details, 10 key things to know before subscribing to ₹600-crore issue
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Rashi Peripherals IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
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Rashi Peripherals IPO Subscription Status
Rashi Peripherals IPO has received bids for 1,54,64,784 shares against 1,42,37,289 shares on offer, according to data from the BSE.
Rashi IPO retail investors’ portion received bids for 97,10,736 shares against 71,18,645 shares on offer for this segment.
Rashi Peripherals IPO’s non-institutional investors’ portion received bids for 57,10,752 shares against 30,50,848 on offer for this segment.
Rashi IPO’s QIBs portion have received 43,296 bids against 40,67,796 shares on offer for this segment.
Also Read: Rashi Peripherals garners ₹180 crore from anchor investors a day before IPO
Rashi Peripherals IPO details
Rashi Peripherals IPO, which is worth ₹600 crore, is completely a fresh issue of 1.93 crore equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).
In its pre-IPO placement, ace investor Madhusudan Kela’s wife Madhuri Madhusudan Kela invested ₹50 crore and Volrado Venture Partners Fund-III-BETA invested ₹100 crore. The investors were allotted a total of 48.23 lakh equity shares at an issue price of ₹311 apiece.
The company intends to use the net proceeds of the offer to finance the following goals: prepayment or scheduled repayment of all or a portion of the company’s existing borrowings; financing the company’s working capital needs as well as general corporate purposes.
The registrar for the Rashi Peripherals IPO is Link Intime India Private Ltd, while the book running lead managers are JM Financial Limited and ICICI Securities Limited.
Also Read: Rashi Peripherals IPO: From financials to key risks, here are 10 must-know points from RHP
Rashi Peripherals IPO GMP today
Rashi IPO GMP or grey market premium is +79. This indicates Rashi Peripherals share price were trading at a premium of ₹79 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Rashi Peripherals share price was indicated at ₹390 apiece, which is 25.4% higher than the IPO price of ₹311.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Also Read: Rashi Peripherals IPO: Madhu Kela wife-backed firm sets IPO price band at ₹295-311; issue to open on February 7
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Published: 07 Feb 2024, 05:28 PM IST
Ananya Das is your guide to the latest trends, viral sensations, and internet phenomena. Based on a keen understanding of digital culture, Sophie navigates the ever-evolving landscape of trending topics. With an insightful and engaging approach, she explores what’s buzzing across social media platforms, ensuring readers stay in the loop with the most talked-about and shareable content online.
