Rashi Peripherals Limited IPO
i. Incorporated in 1989 and having more than 33 years of experience in the distribution of ICT products in India, the Company commenced operations with the manufacturing of peripherals. With the liberalization of the Indian IT sector in 1991, they transitioned to the distribution of ICT products of global technology brands in India.
ii. The company primarily operate the following two business verticals:
Personal Computing, Enterprise and Cloud Solutions (“PES”): Under this vertical we distribute personal computing devices, enterprise solutions, embedded designs/ products and cloud computing
Lifestyle and IT essentials (“LIT”): This includes the distribution of products such as
(i) components that include graphic cards, central processing units (“CPUs”) and motherboards;
(ii) storage and memory devices;
(iii) lifestyle peripherals and accessories that include keyboard, mice, web cameras, monitors, wearables, casting devices, fitness trackers and gaming accessories;
(iv) power equipment such as UPS and invertors; and
(v) networking and mobility devices
iii. Their pan-India distribution network comprises 50 branches that operate for sales and as service centers and 62 warehouses. Through their branches and warehouses, they are able to cover 730 locations in India.
iv. The company distribute products primarily through the following channels:
(i) General Trade: Includes Hybrid Resellers who sell to online marketplaces and retail channels, regional distributors (“RDs”), stockist partners or sub-distributors, retailers, brand stores, system integrators (“SIs”), original equipment manufacturers (“OEMs”) and corporate resellers who sell to corporate customers, all of which are collectively referred to as “Channel Partners”. As of September 30, 2022, we had an ecosystem of 8,657 customers.
(ii) Modern Trade: Includes large format retail (“LFR”), multi-format retail (“MFR”) and small format retail (“SFR”) chains
(iii) E-Commerce: Includes certain of India’s leading online marketplaces.
Competitive Strengths
(i) Leading and fastest growing Indian distribution partner for information and communications technology products.
(ii) Pan-India and multi-channel distribution footprint backed by dedicated in-house infrastructure
(iii) Long-term relationships with marquee global technology brands supported by committed engagement strategy with customers
Objects of the Rashi Peripherals Limited IPO:
Rashi Peripherals Limited IPO Details:
Open Date: | Feb 07 2024 |
Close Date: | Feb 09 2024 |
Total Shares: | 19,292,604 |
Face Value: | ₹ 5 Per Equity Share |
Issue Type: | Book Building |
Issue Size: | 600.00 Cr. |
Lot Size: | 48 Shares |
Issue Price: | ₹ 295 - 311 Per Equity Share |
Listing At: | NSE,BSE |
Listing Date: | Feb 14 2024 |
Promoters And Management:
Financials of Rashi Peripherals Limited IPO:
Particular (In Million) | Mar-21 | Mar-22 | Mar-23 |
Equity Share Capital | 9.95 | 208.92 | 208.92 |
Reserves | 3,933 | 5,543 | 6,793 |
Borrowings | 4,890 | 8,817 | 10,658 |
Trade Payables | 6,639 | 11,284 | 9,562 |
Other Liabilities | 473 | 848 | 765 |
Total Liabilities | 12,001 | 20,950 | 20,984 |
Net Block | 521 | 580 | 540 |
Capital Work in Progress | 32 | 0.92 | 40 |
Investments | 0.03 | 73 | 56 |
Other Assets | 419 | 532 | 618 |
Total NC Assets | 972 | 1,186 | 1,254 |
Receivables | 7,924 | 11,521 | 8,716 |
Inventory | 5,725 | 11,993 | 14,934 |
Cash & Bank | 289 | 452 | 346 |
Other Assets | 1,034 | 1,549 | 2,736 |
Face value | 5 | 5 | 5 |
Particular (In Million) | Mar-21 | Mar-22 | Mar-23 |
Sales | 59,250 | 93,134 | 94,543 |
Purchases of Stock In Trade | 56,476 | 94,243 | 92,081 |
Change in Inventory | -684 | -6,268 | -2,941 |
Employee Cost | 787 | 1,143 | 1,360 |
Other Expenses | 585 | 1,049 | 1,513 |
Other Income | 67 | 85 | 147 |
Depreciation | 75 | 117 | 167 |
EBITDA | 2,152 | 3,052 | 2,676 |
EBITDA Margin | 3.63% | 3.28% | 2.83% |
Interest | 289 | 537 | 863 |
Profit before tax | 1,789 | 2,398 | 1,646 |
Tax | 425 | 573 | 413 |
Net profit | 1,364 | 1,825 | 1,233 |
NPM (%) | 2.30% | 1.96% | 1.30% |
Particular (In Million) | Mar-21 | Mar-22 | Mar-23 |
Cash From Operating Activity | |||
Profit From Operation | 2,123 | 3,111 | 2,575 |
Receivable | -3,478 | -3,628 | 2,819 |
Inventory | -687 | -6,268 | -2,941 |
Payable | 1,465 | 4,977 | -1,860 |
Other WC Items | -171 | -592 | -1,211 |
Working Capital Changes | -2,870 | -5,510 | -3,193 |
Direct Taxes | -350 | -752 | -528 |
Net Cash Inflow from Operating Activity | -1,098 | -3,152 | -1,146 |
Cash from Investing Activity | |||
Fixed assets purchased | -60 | -123 | -113 |
Fixed assets sold | 8 | 0.62 | 1 |
Investments purchased | 0 | -20 | 0 |
Investment in subsidiaries | 78 | 0 | 0 |
Other investing items | -37 | 78 | 74 |
Net cash inflow from investing activities | -10 | -64 | -38 |
Cash from Financing Activity | |||
Proceeds from shares | 0 | -2 | 0 |
Proceeds from borrowings | 1637 | 3927 | 1959 |
Intrest paid fin | -288 | -534 | -838 |
Dividends paid | 0 | -1 | -1 |
Other financing items | -5 | -15 | -41 |
Net Cash Flow | 237 | 159 | -105 |
Comparison With Peers:
Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
Rashi Peripherals Limited | 9454 | 123 | 18.71 | 16.6 | 311 | 2,049 |
Redington India Limited | 79377 | 1,439 | 17.82 | 13.1 | 208 | 16,222 |
Lead Manager of Rashi Peripherals Limited IPO:
Registrar of Rashi Peripherals Limited IPO:
Company Address:
Discussion on Rashi Peripherals Limited IPO:
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