Rashi Peripherals Bags Rs 1,510 Crore Order From Hiranandani Group Firm

Rashi Peripherals Ltd. has bagged orders from a Hiranandani Group-backed data centre worth Rs 1,510 crore.

The order includes the supply and installation of information and communication technology products to NMDC Data Centre Pvt., according to an exchange filing on Thursday.

It includes two orders of Rs 1,065.46 crore and Rs 445.53 crore, along with applicable taxes.

Interestingly, the deal value is more than half the current market cap of Rashi Peripherals of Rs 2,224 crore.

NMDC Data Centre is a subsidiary of Darshan Hiranandani-led digital transformation service provider Yotta Data Services. It operates a 50 megawatt hyperscale data centre in Navi Mumbai. Last month, the company raised over Rs 1,357 crore through a long-term secured loan from the State Bank of India.

Rashi Peripherals is a company that distributes ICT products to global technology brands in India. The service offerings include value-added services like pre-sales, technical support, marketing services, credit solutions and warranty management services.

The company went public in February after raising Rs 600 crore.

The stock closed 0.51% higher at Rs 337.5 apiece on Thursday, ahead of the announcement, as compared with a 0.47% advance in the benchmark BSE Senex.