Rashi Peripheral lists at Rs 339.50, a premium of 9% to its issue price. The company kept the price band of the issue at Rs 295 – 311 and offered 19.3 million shares to raise Rs 600 crore.
The company’s shares were changing hands at a premium of 13.8% to the issue price in the grey market. It is an unofficial market where shares of the companies trade illegally before listing.
The bidding for the issue was opened on February 07 and closed on 09. In the bidding, the retail investor had to bid for a minimum of 48 shares summing to Rs 14,928. The shares of the company will be listed on both the bourses, NSE and BSE.
The company raised Rs 180 crore from the anchor investors by offering almost 5.8 million shares.
According to the company, the net proceeds will be used for payment of debt, funding working capital requirements, and general corporate purposes.
Rashi Peripherals distributes global technology brands in India such as Dell International Services, ASUS Global, HP India Sales, NVIDIA Corporation, Intel Americas, and Toshiba Electronic Components Taiwan Corporation among others. It provides services such as pre-sales, technical support, marketing services, credit solutions, and warranty management services.
JM Financial and ICICI Securities were the book-running lead managers for the issue, while Link Intime India was the registrar.