RP Tech files papers to raise Rs 750 crore through IPO

The proceeds from the IPO will be used to repay debt and meet working capital requirements. the company plans to use 400 crores more to repay the loan 200 crore to meet its working capital requirements, 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 one of the leading value-added national distribution partners for global technology brands in India for Information and Communication Technology (“ICT”) products in terms of revenue and distribution network. Rashi Peripherals provides value added. End-to-end services including pre-sales 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 which 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 centers and 62 warehouses serving over 8600 B2B customers across 730 locations across India, making it the preferred partner of 45+ global technology brands in India .

The company’s cash and cash equivalents were 37.8 crore at the end of the six month period ending 30th September 2022.