Rashi Peripherals Approves Q2 Results, Appoints New Auditor, Plans ₹900 Cr Fundraising
Rashi Peripherals approved Q2 FY27 results and appointed Mr. Sanjeev Keskar as Additional Independent Director. The company also appointed Price Waterhouse as Joint Statutory Auditors and approved a strategic sale of 26% in Rashi Semiconductor Solutions to Restar Corporation. A proposal to raise up to ₹900 crore via QIP or preferential issue was also approved.
The appointment of a new independent director, the strategic sale of a subsidiary stake, and the significant fundraising plan through QIP or preferential issue are all material events expected to have a considerable impact on the company's future operations and financial structure.
The announcement details the approval of financial results, appointment of a new director with significant experience, appointment of new auditors, a strategic divestment, and a substantial fundraising plan, all of which are generally positive developments for the company.
Rashi Peripherals Limited's Board of Directors, in a meeting held on November 5, 2026, approved the unaudited financial results for the quarter and half-year ended September 30, 2026, both on a standalone and consolidated basis. The board also approved the appointment of Mr. Sanjeev Keskar as an Additional Independent Director (Non-Executive) for a tenure up to the Annual General Meeting in 2028, subject to shareholder approval. Mr. Keskar brings approximately 35 years of corporate experience, including nearly 29 years in the semiconductor industry.
Furthermore, the company has appointed Price Waterhouse Chartered Accountants LLP as Joint Statutory Auditors to fill the casual vacancy arising from the cessation of Deloitte Haskins and Sells LLP. The Board also approved the reconstitution of its committees, including the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Corporate Social Responsibility Committee, effective November 6, 2026. Mr. Sanjeev Keskar will serve as a member of the Audit Committee and Chairman of the Stakeholder Relationship Committee.
In a significant strategic move, the company has approved the execution of a Share Purchase Agreement and Shareholder's Agreement with Restar Corporation, Japan, for the secondary sale of 26% of its shareholding in its wholly-owned subsidiary, Rashi Semiconductor Solutions Private Limited (RSSPL). This transaction is subject to applicable approvals.
Additionally, the Board has approved a proposal to increase the company's authorized share capital from ₹35 crore to ₹50 crore. A major financial decision includes approving a proposal to raise funds up to ₹900 crore through Qualified Institutions Placement (QIP) or preferential issue, subject to shareholder approval. The meeting commenced at 4:30 p.m. and concluded at 6:30 p.m. IST.
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Rashi Peripherals Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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