NEW DELHI: Information technology company Rashi Peripherals has applied to the Securities and Exchange Commission (SEBI) for an IPO to raise Rs 750 crore.
During this share issue, entirely new shares are being sold. None of the shares held by founders and shareholders will be sold.
Of the funds raised through the share issue, it plans to use Rs 400 crore for debt repayment and Rs 200 crore for working capital requirements.
Based out of Mumbai, the company is looking to expand its business to secondary cities and rural areas as well.
The company’s revenue has increased by 57.19 percent to Rs 9,313 crore in the last financial year 2020-21.
The IPO is managed by JM Financial, ICICI and Securities.
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