• VDA acquisition structure: Rashi Peripherals is acquiring an initial 67% stake in VDA Infosolutions at a ₹550 crore valuation for approximately ₹370 crore, with the remaining 33% to be acquired in 11% milestone-linked tranches over three years.
• Deal funding: The transaction is being funded entirely through internal accruals, backed by an existing debt-equity ratio of 0.5 times.
• Margin accretion: VDA operates at a 4% to 5% PAT margin (7% to 8% EBITDA) compared to Rashi’s 1.5% to 2% PAT margin (~3% EBITDA), which will boost blended profitability as VDA is targeted to grow 50% to 100% over the next three years.
• Order book drivers: Demand is supported by domestic PC penetration expanding at 8% to 10%, rising enterprise computing needs driven by AI, and projected two- to three-fold growth in Indian data center capacity over the next two to three years.