Rajesh Power Services IPO is scheduled to open on Nov. 25. The IPO is worth Rs 160.47 crore. The initial public offer of the power sector consultancy firm consists of a fresh issue of 27.9 lakh shares, amounting to Rs 93.47 crore, along with an offer-for-sale of 20 lakh shares, aggregating to Rs 67 crore.
The investors, who want to subscribe to the Rajesh Power Services IPO, can check these details before bidding for the issue.
Rajesh Power Services IPO: All You Need To Know
The Rajesh Power Services IPO will remain open for subscription between Nov. 25 and Nov. 27.
The share allotment status for the public issue will be decided on Nov. 28.
The shares will be credited to the Demat accounts of successful bidders on Nov. 29, while refunds will be initiated to non-allottees on the same day. Shares of Rajesh Power Services are likely to be listed on Dec. 2 on the BSE SME platform.
The Rajesh Power Services IPO price band has been fixed at Rs 319 to Rs 335 per share. Retail investors have to buy at least 400 shares in one lot, taking the minimum investment amount to Rs 1,34,000.
The book running lead manager for the SME issue is ISK Advisors Pvt. and the registrar for the issue is Bigshare Services Pvt. The market maker for the issue is Sunflower Broking.
Rajesh Power Services IPO GMP Today
Rajesh Power Services IPO GMP (grey market premium) stood at Rs 90 as of 8:30 a.m. on Nov. 25, according to InvestorGain. This indicates a potential listing gain of 26.87%, with the listing price of Rs 425 per share.
GMP is not an official price quote for the stock and is based on speculation.
Rajesh Power Services Business
Rajesh Power Services was established in 1971. The company provides Engineering, Procurement and Construction contracting services to state transmission and distribution companies and private utilities. The company provides EPC services for Extra High Voltage Underground Cables and Transmission Lines, HV/MV/LV Underground Cable Laying and Overhead MVCC Conductor Installation and other such services. Notable clients of the company include GIFT City Gujarat, Gujarat Metro Rail Corp., Adani Renewables and Reliance Industries Limited.
Use Of Proceeds
The company plans to use the money raised via the public issue for purchasing equipment used for cable identification, testing and fault location. The proceeds will also be used for setting up of the DC Solar Power Plant having a capacity of 1,300 KW. The company also plans to develop in-house technical expertise for the production of Green Hydrogen and purchase associated equipment such as electrolysers. The funds will also be used for additional working capital requirements and general corporate purposes.
Financials
Rajesh Power Services Ltd. reported a revenue of Rs 295.06 crore in FY24, a 39% year-on-year gain from Rs 211.17 crore in the previous fiscal. The company’s profit after tax also saw an increase of 285% at Rs 26.02 crore in FY24 from Rs 6.75 crore in FY23.
In Q2 FY25, the company reported revenue of Rs 317.85 crore and a net profit of Rs 27.68 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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