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<ul><li><keyword id="20436645" type="General" weightage="20" keywordseo="rashi-peripherals" source="keywords">Rashi Peripherals</keyword> is expected to announce its share allotment status on Monday, February 12.</li><li>The shares of Rashi Peripherals were subscribed 59.71 times.</li><li>The shares are expected to be listed on the stock exchanges on February 14.</li></ul> Mumbai-based Rashi Peripherals, a major pan-India distributor of technology products is expected to announce the allotment status of its initial public offering (IPO) on Monday, February 12. The <keyword id="20521867" type="General" weightage="20" keywordseo="rashi-peripherals-ipo" source="keywords">Rashi Peripherals IPO</keyword> opened on February 7 and closed on February 9. The price band for the IPO was ₹295 to ₹311 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Rashi Peripherals IPO was subscribed 59.71 times, receiving bids for 85.01 crore equity shares against 1.42 crore shares on offer. While the qualified institutional buyer portion was subscribed 143.66 times, the non-institutional investors portion was subscribed 62.75 times. The retail portion also witnessed good participation and was subscribed 10.43 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Rashi Peripherals are currently commanding a grey market premium (GMP) of ₹70 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="20521868" type="General" weightage="100" keywordseo="Rashi-Peripherals-IPO-allotment" source="Orion">Rashi Peripherals IPO allotment</keyword> status, visit the registrar’s website<a href="https://linkintime.co.in/IPO/public-issues.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Rashi Peripherals’.</li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Rashi Peripherals IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Rashi Peripherals’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Rashi Peripherals IPO listing date" comment="subhead" text="Rashi Peripherals IPO listing date">Rashi Peripherals IPO listing date</cmsannotation> The shares of Rashi Peripherals will be listed on the stock exchanges on February 14. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/wd-black-sn850x-ssd-review/articleshow/107557627.cms">WD Black SN850X SSD review – a reliable gaming solid-state drive</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-ten-selling-cars-in-india-in-january-2024/slidelist/107547644.cms">Baleno regains the top selling car spot as Maruti Suzuki dominates the Jan top-10 list</a> <a href="https://www.businessinsider.in/tech/news/affordability-propels-indian-smartwatch-shipments-to-rise-by-50-in-2023/articleshow/107517214.cms">Affordability propels Indian smartwatch shipments to rise by 50% in 2023</a>

Rashi Peripherals IPO allotment – How to check allotment, GMP, listing date and more

New Delhi, The initial public offer of information and communications technology products distributor <keyword id="20436645" type="General" weightage="20" keywordseo="rashi-peripherals" source="keywords">Rashi Peripherals</keyword> got fully subscribed on the first day of bidding on Wednesday. The <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> received bids for 1,54,17,936 shares against 1,42,37,289 shares on offer, garnering a 1.08 times subscription, as per NSE data. The portion for non-institutional investors subscribed 1.87 times, while the quota for retail individual investors (RIIs) received 1.36 times subscription. The category for qualified institutional buyers (QIBs) got subscribed 1 per cent. The Rs 600-crore initial public offer (IPO) is in a price range of Rs 295-311 a share. The IPO is completely a fresh issue of equity shares. Rashi Peripherals on Tuesday mobilised Rs 180 crore from anchor investors. Of the IPO proceeds, funds worth Rs 326 crore will be utilised for payment of debt and Rs 220 crore for funding working capital requirements and general corporate purposes. Last month, Rashi Peripherals raised Rs 150 crore from institutional investors in a pre-IPO funding round. <keyword id="20400939" type="General" weightage="20" keywordseo="jm-financial-limited" source="keywords">JM Financial Limited</keyword> and <keyword id="20005262" type="General" weightage="20" keywordseo="icici-securities" source="keywords">ICICI Securities</keyword> are the managers to the offer. Shares of the company are proposed to be listed on <keyword id="19895774" type="General" weightage="20" keywordseo="bse" source="keywords">BSE</keyword> and NSE.

Rashi Peripherals IPO fully subscribed on Day 1 of offer

<ul><li>The stock closed at ₹320 on Wednesday as compared to listing price of ₹311.</li><li>The company’s market cap is at ₹2,207 crore as per Bombay Stock Exchange.</li><li>The grey market was expecting 19% listing gains from the stock. </li></ul>Hardware distribution major <keyword id="20436645" type="General" weightage="20" keywordseo="rashi-peripherals" source="keywords">Rashi Peripherals</keyword> debuted on the bourses with a 7.7% premium on early Wednesday. But it pared some of its gains during the day, to close 3% ahead of its issue price. The stock closed at ₹320 as compared to its listing price of ₹311. The company’s market cap is at ₹2,207 crore as per Bombay Stock Exchange. It disappointed the grey market which was expecting 19% listing gains from the stock. The ₹600 crore issue was subscribed 62 times the shares on offer. It raised ₹180 crore from anchor investors like ICICI Prudential, Aditya Birla Sun Life Insurance, SBI General Insurance and more; ahead of opening the issue to the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. However, the last two listings like BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have provided good gains to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apeejay Surrendra Parks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nova Agritech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EPACK Durable </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jyoti CNC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Innova Captab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Its initial public offer is entirely a fresh issue, using which it intends to pay off loans, towards working capital and general corporate purposes. The Mumbai-based company distributes over 10,500 types of tech products. It has branches in 50 cities that operate as sales and service centres and warehouses. They cover 680 locations across 28 states and union territories in India through an ecosystem of 8,407 customers, as of September 30, 2023. It’s also the distribution partner of 52 global brands including Dell, Asus, HP, Logitech and more. With a wide footprint as well as a wide product range, <keyword id="20472594" type="General" weightage="20" keywordseo="rashi" source="keywords">Rashi</keyword> has been able to garner a chunky market share as a pan-India distributor of technology products. It has over 45% market share in processors, graphics cards and pen drives; over 20% market share in routers (33%), hard drivers, keyboards and mice, monitors; and over 10% share in UPS, laptops, desktops and switches. Its revenue from operations grew by 57% in FY23, and profit by 35%. But it raked up debt to the tune of ₹1,275 crore, as of September 2022, including unsecured loans to the tune of ₹19 crore from promoters and members of promoter group and others. The <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> proceeds can help cushion some of it, believe analysts. “Utilization of IPO proceeds would lower the financial liabilities, whereas availability of working capital would boost the business expansion capabilities in the medium-term,” says <keyword id="20287834" type="General" weightage="20" keywordseo="choice-broking" source="keywords">Choice Broking</keyword>.

Rashi Peripherals closes 3% ahead of issue price on debut day

<ul><li>The Mumbai-based company is an ICT product distributor with presence across 680 locations.</li><li>It’s also a national distribution partner of 52 global brands including Dell, Asus, HP, Logitech and more.</li><li>It offers value-added services like pre-sales, technical support, marketing services, credit solutions etc. </li></ul>With a wide footprint as well as a wide product range, <keyword id="20436645" type="General" weightage="20" keywordseo="rashi-peripherals" source="keywords">Rashi Peripherals</keyword> has been able to garner a chunky market share as a pan-India distributor of technology products. The company which is opening its ₹600 crore <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> on February 7, distributes many ICT products ranging from processors to keyboards. The Mumbai-based company which distributes over 10,500 types of products, has branches in 50 cities that operate as sales and service centres and warehouses. They cover 680 locations across 28 states and union territories in India through an ecosystem of 8,407 customers, as of September 30, 2023. It’s also the distribution partner of 52 global brands including Dell, Asus, HP, Logitech and more. Thanks to casting a wide net, it has over 45% market share in processors, graphics cards and pen drives; over 20% market share in routers (33%), hard drivers, keyboards and mice, monitors; and over 10% share in UPS, laptops, desktops and switches. Value-added offerings It majorly works with hybrid resellers who are its channel partners that sell to both online marketplaces and retail channels enabling them to serve tier-II and tier-III cities in India. “They are able to leverage their local sales and inventory knowledge and post sales servicing capabilities to offer local connectivity and just-in-time deliveries,” said a report by Axis Capital. The company also incentivizes its resellers with credit financing and competitive pricing solutions, helping them scale up. “The company's service offerings include value-added services such as pre-sales, technical support, marketing services, credit solutions and warranty management services,” said a report by <keyword id="20474793" type="General" weightage="20" keywordseo="sushil-finance" source="keywords">Sushil Finance</keyword>. <keyword id="20472594" type="General" weightage="20" keywordseo="rashi" source="keywords">Rashi</keyword> also distributes equipment for high performance computing, AI, data centers etc to their enterprise customers to provide solutions to their end-consumers. It also intends to grow the number of categories it operates in. “Rashi is one of the leading ICT product distributors in the Indian market, generating around 85% of the business from the B2B2C channel. It commanded a dominant market share in some of the ICT products. The company intends to continue with a considerable market share as one of its strategies for product category expansion,” said a report by <keyword id="20287834" type="General" weightage="20" keywordseo="choice-broking" source="keywords">Choice Broking</keyword>. Lowering financial liabilities Its initial public offer of ₹600 crore is entirely a fresh issue, using which it intends to pay off loans, towards working capital and general corporate purposes. It has set a price band of ₹295-311, with a lot size of 48 shares. It opens on February 7 and closes on February 9. Its revenue from operations grew by 57% in FY23, and profit by 35%. But it raked up debt to the tune of ₹1,275 crore, as of September 2022, including unsecured loans to the tune of ₹19 crore from promoters and members of promoter group and others. The IPO proceeds can help cushion some of it, believe analysts. “Utilization of IPO proceeds would lower the financial liabilities, whereas availability of working capital would boost the business expansion capabilities in the medium-term, “ says Choice Broking. Its sole listed peer in the market is Redington India and analysts say that the IPO’s price to earnings multiple is in line with that of the listed peer. “The company is asking for a PE multiple of 10.54x on the upper end of the price band. The industry average is 9.92x. The issue seems fully priced. Looking at all the factors, risks, opportunities and valuation, investors may apply for the issue with a long term view,” says Sushil Finance. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,313 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,925 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,934 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹181 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹134 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹37.9 crore </td></tr></tbody></table>Source: DRHP Demand dynamics &amp; other risk factors The company enjoys high market share in the business, with deep knowledge of product assortment, pricing dynamics and strong supplier relationships. But the business itself has inherent risk factors like currency fluctuations, high working capital costs etc. “Any changes in customer preferences, increased competition, change in margin by global technology brands, changing trends or any other reason, could decrease our revenue and profitability from these verticals and may result in an adverse effect on our business, financial condition and results of operations,” the company said in its DRHP. Also, its growth and profitability is linked to the level of consumer confidence in India as well as overseas business it operates in. Factors like inflation, tax, government policies, and unemployment rates can affect consumer confidence and spending. “The Indian ICT market, in particular, is very sensitive to broad economic changes, and retail purchases tend to decline during recessionary periods,” the company says. Change in the demand environment can also create an inventory overhang.

Rashi Peripherals IPO: Hardware distribution major set for Dalal Street plunge – All you need to know

IT solutions major <keyword id="2547767" type="General" weightage="100" keywordseo="rashi-peripherals" source="Orion">Rashi Peripherals</keyword> has filed preliminary papers with capital markets regulator Sebi to raise Rs 750 crore through an Initial Public Offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>). The public issue is a completely fresh issue of shares with no offer-for-sale component, according to the Draft Red Herring Prospectus (DRHP). The company may consider a private placement of equity shares for up to Rs 150 crore. If such placement is completed, the fresh issue size will be reduced. Of the IPO proceeds, funds worth Rs 400 crore will be utilised for payment of debt and Rs 200 crore for funding working capital requirements and general corporate purposes. Mumbai-based <keyword id="16144753" type="General" weightage="50" keywordseo="rashi-peripherals-ltd" source="Orion">Rashi Peripherals Ltd</keyword> 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 <keyword id="220321" type="General" weightage="50" keywordseo="lenovo-india" source="Orion">Lenovo India</keyword>. The company aims to expand its geographic presence in non-metro cities which includes Tier I and Tier II cities and other rural geographies which are becoming centres of consumption for ICT products such as personal computers, smartphones, internet devices, and networking devices. The company's revenue from operations surged 57.19 per cent from Rs 5,925.05 crore in fiscal 2021 to Rs 9,313.44 crore in fiscal 2022, while its profit after tax grew 33.85 per cent to Rs 182.51 crore from Rs 136.35 crore a year ago. <keyword id="45949" type="General" weightage="50" keywordseo="jm-financial" source="Orion">JM Financial</keyword> and ICICI Securities are the book-running lead managers to the offer. The equity shares are proposed to be listed on BSE and NSE. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/waive-gst-on-helmets-road-safety-body-urges-fm-ahead-of-the-union-budget/articleshow/97129234.cms">Waive GST on helmets, road safety body urges FM ahead of the Union Budget</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/article/budget-2023-24-what-the-common-man-wants-on-the-personal-tax-front/articleshow/97124204.cms">Budget 2023-24: What the common man wants on the personal tax front</a>

IT solutions firm Rashi Peripherals files ₹750 crore IPO papers with Sebi

<ul><li>The stock closed at ₹442 as compared to its issue price of ₹151 per share.</li><li>The market capitalization of the company is at ₹838 crore, as per Bombay Stock Exchange.</li><li>The grey market was expecting 86% listing gains, and the issue was subscribed 320x. </li></ul>Shares of <keyword id="20491580" type="General" weightage="20" keywordseo="vibhor-steel-tubes" source="keywords">Vibhor Steel Tubes</keyword> debuted on Dalal Street with 192% listing gains on Tuesday. The stock closed at ₹442 as compared to its issue price of ₹151 per share. The market capitalization of the company is at ₹838 crore, as per BSE. The grey market was expecting 86% listing gains from the stock. Analysts also believed that its price band has left enough room for good listing gains due to valuation gap with listed peers. The ₹72.17 crore issue was subscribed 320 times the shares on offer, with bumper applications from retail as well as institutional investors. It raised ₹21.5 crore from three anchor investors like Saint Capital Fund, Chhatisgarh Investments and Neomile Growth Fund - Series I; ahead of opening the issue to the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. The last three listings, however, gave tepid listing gains, with small finance banks seeing share prices falling below their issue prices. However, the tranche before that saw good listing gains. <keyword id="20606345" type="General" weightage="20" keywordseo="apeejay-surrendra-parks" source="keywords">Apeejay Surrendra Parks</keyword>, BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have given positive returns to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Entero Healthcare </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rashi Peripherals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jana Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apeejay Surrendra Parks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nova Agritech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td></tr></tbody><tbody></tbody></table> The Haryana-based manufacturer of high-quality steel tubes and pipes’ IPO is a completely fresh issue. It intends to use it to fund its working capital requirements. The company operates two manufacturing facilities and one warehouse with a total capacity of 2,23,160 million tonne per annum in Maharashtra, Telangana and Haryana. It <keyword id="20653746" type="General" weightage="20" keywordseo="ssupplies" source="keywords">sSupplies</keyword> its products to western and southern market companies in Maharashtra, Gujarat, Madhya Pradesh, Telangana, Karnataka and <keyword id="19896558" type="General" weightage="20" keywordseo="tamil-nadu" source="keywords">Tamil Nadu</keyword>. The company has plans to expand its operations by setting up a manufacturing unit with a capacity of 1,20,000 MTPA in Orissa and expanding the current unit’s capacity in Telangana from 96,000 MTPA to 1,52,000 MTPA. VSTL has also entered into an agreement with Jindal Pipes Limited in April 2023. As part of the agreement, the company manufactures and supplies finished goods worth 1,00,000 MTPA to Jindal Pipes, which sells the products under the brand name Jindal Star. “The key strength of the company comes from the association with Jindal Pipes. Its capacity expansion gives long term visibility in terms of long term,” said Rajan Shinde, research analyst, Mehta Equities who gave it a ‘subscribe’ rating to the issue.

Stellar debut: Vibhor Steel Tubes share price almost doubles on listing

<ul><li>The stock made a tepid debut as it listed at ₹1,146 as compared to its issue price of ₹1,258.</li><li>The company’s marketcap is at ₹4,999, according to <keyword id="19911480" type="General" weightage="20" keywordseo="bombay-stock-exchange" source="keywords">Bombay Stock Exchange</keyword>.</li></ul>The stock of <keyword id="20552593" type="General" weightage="20" keywordseo="entero-healthcare-solutions" source="keywords">Entero Healthcare Solutions</keyword> fell 8.6% below its issue price, as it debuted on the exchanges on Friday. The stock closed at ₹1,149 as compared to its issue price of ₹1,258. Its marketcap is at ₹4,999 crore, according to Bombay Stock Exchange. The grey market surprisingly has made no predictions either of listing gains or losses on the company’s debut. The ₹1,600 crore issue was subscribed 1.53 times over the shares on offer. The company had mobilized ₹716 crore from anchor investors like Bajaj Allianz Life Insurance, <keyword id="20155245" type="General" weightage="20" keywordseo="sbi-general-insurance" source="keywords">SBI General Insurance</keyword> and others; ahead of opening the issue for the public. The listing performance of 2024’s market debuts have been mixed due volatile market conditions. The last three listings however gave tepid listing gains, with small finance banks falling below the issue price. However, the tranche before that saw good listing gains. <keyword id="20606345" type="General" weightage="20" keywordseo="apeejay-surrendra-parks" source="keywords">Apeejay Surrendra Parks</keyword>, BLS E-Services and <keyword id="20214703" type="General" weightage="20" keywordseo="nova-agritech" source="keywords">Nova Agritech</keyword> have given good returns to investors. Here are the listing gains of the last few market debuts <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing gains </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rashi Peripherals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jana Small Finance Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apeejay Surrendra Parks </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BLS E-Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">129% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nova Agritech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The issue is a combination of fresh issues and an offer for sale. The fresh issue of shares is worth ₹1,000 crore. It intends to use the net proceeds from the fresh issue towards re-payment and or prepayment, in full or part, of borrowings availed of the company and subsidiaries. It will also be used to fund its long term working capital requirements, and pursue inorganic growth initiatives through acquisitions; apart from general corporate purposes. Entero Healthcare Solutions, which was incorporated in 2018 is a distributor of healthcare products in India. It uses a technology-driven platform to facilitate distribution of healthcare products to hospitals, clinics and pharmacies across the country. The company has relations with over 1,900 healthcare manufacturers across the country and caters to 3,400 hospitals and 81,400 pharmacies in 495 districts in the country as on March 31, 2023. The company has 77 distribution warehouses across 38 cities.

Entero Healthcare Solutions slips below issue price on debut day

There are two kinds of people. One who are making kidney jokes regarding the new <keyword id="57315" type="COMPANY" weightage="20" keywordseo="iPhones">iPhones</keyword> and others who are eagerly waiting to lay their hands on <keyword id="6388494" type="UNKNOWN" weightage="20" keywordseo="iPhone-7">iPhone 7</keyword> and iPhone 7 Phones. If you belong to the second category, you can now pre-order the new iPhones. 
 The new <keyword id="6354427" type="CITY" weightage="20" keywordseo="Apple">Apple</keyword>’s iPhones can be pre-booked on the company’s official website or at Most <keyword id="3651244" type="UNKNOWN" weightage="20" keywordseo="IWorld">IWorld</keyword> stores, Apple's Premium Resellers in Northern India. <keyword id="152045" type="UNKNOWN" weightage="20" keywordseo="Unicorn">Unicorn</keyword>, Apple’s Premium Partner in India, is accepting pre-orders for the two new iPhones too. To book an iPhone, an advance payment of rs 5,000 is to be done. 
 One of the distributors for Apple in India, <keyword id="3650090" type="UNKNOWN" weightage="20" keywordseo="beetel-teletech-ltd">Beetel Teletech Ltd</keyword>, said it will start deliveries of the two phones at 7pm on October 7. However, sales person at both IWorld and Unicorn said that their stores will start selling the smartphones at 12 am sharp on October 7. Another Apple distributor Rashi Peripherals too has announced that it will start selling the latest iPhones from October 7 in India. 
 
However, the company has so far not disclosed the time when it will start sales at its 1,000 locations across the country. The company will be launching its devices in India in its third phase. 
 
Apple has not yet revealed the complete pricing details of its new smartphones in India. The company, however, just said that the price of the iPhones will start at Rs 60,000 in the country. 
 
This is likely to be the price of the base iPhone 7 model with 32GB internal storage. 
 
The iPhone 7 and iPhone 7+ will be coming in 32GB, 128GB and 256GB storage variants. Ttthe color variants include Silver, Gold, Rose Gold, Black and Jet Black. Of these, the Jet Black colour variant comes only in 128GB and 256GB variants. 
 
(Image: Indiatimes)

Pre-orders
for iPhone 7 and iPhone 7
plus begin. Read
on to know other details

In a bid to double <keyword id="6354606" type="COMPANY" weightage="20" keywordseo="iPhone">iPhone</keyword> sales in the next three years, <keyword id="6354427" type="CITY" weightage="20" keywordseo="Apple">Apple</keyword> has signed up a partnership with Delhi-based <keyword id="2733165" type="UNKNOWN" weightage="20" keywordseo="Optiemus-Group">Optiemus Group</keyword>, a leading phone distributor in the country who also sells <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword> and HTC smart phones. 
 As per an Economic Times report, Apple is planning to sign some more deals in continuation as Optiemus itself is the fifth distributor after Redington, <keyword id="325300" type="ORGANIZATION" weightage="20" keywordseo="Ingram-Micro">Ingram Micro</keyword>, Rashi Peripherals and Brightstar. 
 
"Since shipment figures are one of the indicators of success in the smart phone industry, any new distributor Apple appoints will lead to an instant surge in shipments, which will help it to achieve the target fixed by headquarters and will also lead to a significant jump in retail reach," an industry executive told ET. 
 
Apple is aiming for the sales of two million iPhones in India in this (October-September) fiscal year after notching up one million last year. In the seven months ended April 30, the company sold a million iPhones in India. Another executive said Apple India had been under pressure since Samsung has become more aggressive and wants to ensure that volume sales grow at twice the existing pace. 
 
"Apple's distributors are now reaching out to even local consumer electronic dealers and mobile phone stores for stocking iPhones and setting up dedicated space in such stores," he said. 
 When ET wrote an email sent to the company (Apple) seeking . Attempts to reach Optiemus Group promoter <keyword id="88971" type="PERSON" weightage="20" keywordseo="Ashok-Gupta">Ashok Gupta</keyword> on his mobile were unsuccessful. While Apple has been a longtime leader in the Rs 30,000-plus Indian smart phone market, South Korean rival Samsung overtook the American firm in January- April quarter, as per the latest data from market tracker Counterpoint Research. Samsung's renewed vigor stems from the success of its latest flagship Galaxy S6, S6 Edge and Note Edge. 
 
By value, Apple is the number two brand in the overall Indian smart phone market after Samsung. By volume, Apple ranked lower with a share of about 2%, compared with market leader Samsung at 28% followed by Micromax at 15%.

Know about Apple’s new strategy to knock Samsung out of competition in India

In a bid to achieve greater price parity in online and offline trading of smartphones, rivals Samsung and Apple have come out with first-of-its-kind concrete steps, which will also stress on the importance of online retailing for both of them. 
 In the new move, Samsung has tied up with Amazon and <keyword id="541988" type="COMPANY" weightage="60" keywordseo="SnapDeal">Snapdeal</keyword> to set up a ‘brand store’ on their websites. Under this, only authorised sellers would be able to offer the product at prices fixed by the Korean company. This will prevent any lucrative discounts. 
 
As per the senior executives with the cellphone trade, now unauthorised sellers won't be able to offer Samsung products on these websites. 
 Snapdeal refused to comment on the association with Samsung. An <keyword id="6354743" type="COMPANY" weightage="60" keywordseo="Amazon-India">Amazon India</keyword> spokesperson told Economic Times the Samsung store is a brand experience page and merchandising initiative whereby it showcases the breadth of Samsung's selection. "Through such initiatives, we partner with brands to engage with their and our customers," the spokesperson said. 
 
Meanwhile, Apple has now decided to allow retailers to buy its products from any of its four distributors-Ingram Micro, Redington, Rashi Peripherals and Brightstar-which earlier was not the case. 
 The move came after offline retailers complained that online sellers were getting phones from Apple's designated distributors at lower prices. Now, <keyword id="481409" type="ORGANIZATION" weightage="80" keywordseo="Apple-India">Apple India</keyword> has informed its offline retailers that they are free to negotiate margins with distributors and can sell the products at a lower price, matching online if they want. 
 
"Even though all such communication by Apple India officials to retailers is done verbally, the big chains are already buying from distributors who offer best price," one of the executives told Economic Times. 
 
As per market tracker Counterpoint Research senior analyst Tarun Pathak, these were the first steps initiated by Apple and Samsung to tap eCommerce market in the country by working on traditional distribution lines. 
 
"Both the brands were losing sales to online-only smartphone brands at a time when e-Commerce already contributes 15% of smartphone sales in India and expected to double this year," Pathak told the financial daily. 
 
As per ET, some 115 million smartphones are expected to be sold in India in 2015. 
 
As per Chief Executive Officer of a leading mobilephone retal chain, Apple has adopted a push-back mechanism to sway offline retailers which complained about pricing disparity with ecommerce, adding that through this Apple signalled that the company was serious about not curbing online sales in any way. 
 
"Apple is not that fussy about online discounting in India as it used to be," he said. 
 
Coming to Samsung's initiative, another senior executive with an electronics chain said after blacklisting online sellers that were not maintaining pricing of the products, Samsung’s latest move will allow it to tap online shoppers without disturbing offline retailers and also give a legitimate stamp to handsets sold through Amazon and Snapdeal. 
 
Industry officials informed ET that the Korean company was also in talks with Flipkart to set up a similar online brand store and may include other eCommerce firms too. 
 A <keyword id="107877" type="CITY" weightage="80" keywordseo="Samsung-India">Samsung India</keyword> spokesperson said all channel partners contribute to its market share growth and the company regularly monitors developments in both the online and offline retail spaces. 
 
(Image: Reuters)

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