Rashi Peripherals IPO Oversubscribed 59.71 Times

New Delhi, Feb 9 (PTI) The initial public offering of information and communications technology products distributor Rashi Peripherals got subscribed 59.71 times on the final day of subscription on Friday.

The initial share sale received bids for 85,01,64,480 shares against 1,42,37,289 shares on offer, according to data available on the NSE.

The quota for Qualified Institutional Buyers (QIBs) received 143.66 times subscription while the portion for non-institutional investors got subscribed 62.75 times. The category for Retail Individual Investors (RIIs) fetched 10.44 times subscription.

The Initial Public Offering (IPO) of up to Rs 600 crore had a price range of Rs 295-311 a share and is completely a fresh issue of equity shares.

On Tuesday, the company mobilised Rs 180 crore from anchor investors.

Out of the IPO proceeds, funds worth Rs 326 crore will be utilised for payment of debt and Rs 220 crore for funding working capital requirements and general corporate purposes.

Last month, Rashi Peripherals raised Rs 150 crore from institutional investors in a pre-IPO funding round.

JM Financial and ICICI Securities were the managers to the offer.