Rashi Peripherals IPO Subscribed 1.09 Times on Day 1

Rashi Peripherals IPO Subscribed 1.09 Times on Day 1

VoM News Desk | February 7, 2024 | 06:06 PM IST | Breaking News | Follow on Google News

Rashi Peripherals IPO Subscribed 1.09 Times on Day 1

Rashi Peripherals IPO Subscribed 1.09 Times on Day 1

The Rashi Peripherals IPO has seen a subscription of 1.09 times on the first day, driven by retail and non-institutional investors. Here are key details:

• Overall Subscription: The IPO was fully subscribed at the end of Day 1, with a subscription status of 1.09 times.
• Category-wise Subscription:
• Retail Investors: 1.36 times subscribed
• Non-Institutional Investors (NII): 1.87 times subscribed
• Qualified Institutional Buyers (QIB): 1% subscribed
• Price Band: The IPO price band is set between ₹295 to ₹311 per equity share with a lot size of 48 equity shares.
• Total Issue Size: The IPO is worth ₹600 crores, consisting of a fresh issue of 1.93 crore equity shares.
• Usage of Proceeds: The net proceeds from the IPO will be utilized for prepayment or repayment of existing borrowings, financing working capital needs, and general corporate purposes.
• Grey Market Premium: The grey market premium (GMP) for Rashi Peripherals IPO is at +79, indicating a premium of ₹79 in the grey market.

Rashi Peripherals IPO is scheduled to close on February 9, and the estimated listing price is indicated at ₹390 apiece, a 25.4% premium over the IPO price. Investors are closely watching the subscription trends and the grey market premium for cues on the demand and potential listing performance.

VoM News Desk

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