Rashi Peripherals Shares Surge 3% on Debut

New Delhi, Feb 14 (PTI) Shares of information and communications technology products distributor Rashi Peripherals jumped 3 per cent in debut trade on Wednesday against the issue price of Rs 311 per share.

The stock made its debut at Rs 339.50 per share, a jump of 9.16 per cent from the issue price on the NSE. During the day, it hit a high of Rs 342.70 apiece. Shares of the company settled at Rs 320.60 apiece, up by 3.09 per cent.

On the BSE, the stock listed at Rs 335, up 7.72 per cent. Finally, it settled 3.07 per cent higher at Rs 320.55 apiece.

The company's market valuation stood at Rs 2,112.41 crore.

In volume terms, 1.54 crore equity shares were traded on the NSE while 14.11 lakh shares were traded on the BSE.

"We are immensely grateful to all our investors for their unwavering support and confidence in Rashi Peripherals. Your trust in our vision and commitment to innovation has propelled us to this momentous debut on the exchange," Rashi Peripherals MD Kapal Pansari said in a statement.

On Wednesday, the 30-share Sensex jumped 267.64 points or 0.37 per cent to close at 71,822.83 points while NSE Nifty rose 0.45 per cent to settle at 21,840.05 points.

Earlier this month, the Initial Public Offering (IPO) of Rashi Peripherals got subscribed 59.71 times.