PremiumMUMBAI: RP Tech (Rashi Peripherals Ltd) has filed draft papers with the Securities and Exchange Board of India (Sebi) to raise up to ₹750 crore through an initial public offering (IPO).
Proceeds from the IPO will be utilised to finance working capital needs in addition to debt repayment. The company plans to use ₹400 crore for debt repayment and ₹200 crore to meet its working capital needs, as per the draft red herring prospectus.
JM Financial and ICICI Securities are the book running lead managers to the issue.
Incorporated in 1989, Mumbai-based Rashi Peripherals is among the leading value-added national distribution partners for global technology brands in India for information and communications technology (“ICT") products in terms of revenues and distribution network.Rashi Peripherals provides value-added services from start to finish, including pre-sale activities, solution design, technical support, marketing services, credit solutions, and warranty management services.
The company is a national distribution partner for 48 global technology brands that include ASUS Global Pte. Ltd., Dell International Services India Private Limited, HP India Sales Private Limited, Lenovo India Private Limited, Logitech Asia Pacific Limited, NVIDIA Corporation, Intel Americas, Inc., Schneider Electric IT business India, LG Electronics India Pvt. Ltd. and Toshiba Electronic Components Taiwan Corp.
The company has a strong distribution network of 50 branches, 50 service centres, and 62 warehouses that serve over 8600 B2B customers in 730 locations across India, which makes it the preferred partner of 45+ global technology brands in India.
The company's cash and cash equivalents was ₹37.8 crore as at the end of the six-month period that ended on 30 September 2022.