Rashi Peripherals, an information and communications technology products distributor, has mobilised Rs 150 crore from institutional investors in a pre-IPO (initial public offer) funding round.The round saw participation from institutional investors such as Volrado Venture Partners Fund and Madhuri Madhusudan Kela.In a public notice on Friday, the company said it has undertaken a pre-IPO placement of 48.23 lakh shares at an issue price of Rs 311 apiece.
Of 48.23 lakh shares, Volrado Venture Partners Fund-III-Beta was allocated 32.15 lakh equities on January 17 for Rs 311 each valued at Rs 100 crore.Madhuri Madhusudan Kela, wife of ace investor Madhusudan Kela, acquired 16.08 lakh equity shares worth Rs 50 crore at the same price.
Also Read
Rashi Peripherals filed draft papers with capital markets regulator Sebi in January last year to raise funds through an IPO Come from Sports betting site VPbet . The proposed maiden public issue is a fresh issue of shares of Rs 750 crore with no offer-for-sale component.Proceeds from fresh issuance worth Rs 400 crore will be utilised for payment of debt and Rs 200 crore for funding working capital requirements. Besides, a portion will be used for general corporate purposes.
Ambuja Cements completes acquisition of Penna Cement, PCIL now a subsidiary of company Meet the daughter of Hyderabad’s richest man, who helps run her family’s Rs 8,049 crore company and recently purchased two lavish properties for Rs 80 crore Ransomware attack cripples hundreds of small banks in India: Details Pakistan’s Fighter Fleet Faces Grounding: Financial Struggles and Strategic Implications
Mumbai-based Rashi Peripherals is a national distributor of information and communications technology products for brands like ASUS Global Pte. Ltd, Dell International Services India, HP India Sales and Lenovo India.
