IPO Details
Bidding Dates
25 Nov '24 - 27 Nov '24
Minimum Investment
₹1,34,000 / 1 Lot (400 Shares)
Price Range
₹320 - ₹335
Maximum Investment
₹1,34,000 / 1 Lot (400 Shares)
Retail Discount
To be announced
Issue Size
₹160.47 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) | Eligible employees |IPO Dates
Important dates with respect to IPO allotment and listing
Opening Date
Nov 25, 2024
Closing Date
Nov 27, 2024
Basis of Allotment
Nov 28, 2024
Initiation of Refunds
Nov 29, 2024
Listing Date
Dec 2, 2024
About Rajesh Power Services IPO
Rajesh Power Services is launching its IPO with a book-built issue worth ₹160.47 crore. The offering includes a fresh issue of 27.9 lakh shares, raising ₹93.47 crore, alongside an offer for sale of 20 lakh shares, totalling ₹67 crore.
The IPO opens for subscription on November 25, 2024, and closes on November 27, 2024, with allotment expected on November 28, 2024. The shares will be listed on the BSE SME with a tentative listing date of December 2, 2024. The IPO price band is set between ₹320 to ₹335 per share. The minimum lot size for retail investors is 400 shares, requiring a minimum investment of ₹1,34,000.
High Net-worth Investors (HNIs) can apply for a minimum of 2 lots (800 shares), amounting to ₹2,68,000. ISK Advisors Pvt Ltd is the book-running lead manager, Bigshare Services Pvt Ltd is the registrar, and Sunflower Broking is the market maker for the issue.
Industry Outlook:
- India's transmission grid has expanded significantly, with 482,032 ckt. km of lines and 1,239 GVA of AC substation capacity as of February 2024, boosting interconnectivity.
- India targets 500 GW renewable capacity by 2030, with solar and wind energy comprising 72.31 GW and 44.95 GW, respectively, propelling green infrastructure investments.
Rajesh Power Services IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Capital Expenditure:
- Purchase of cable identification, testing and fault location equipments
- Setting up of DC Solar Power Plant having a capacity of 1300 KW;
- Inhouse development of Technical Expertise in the Production of Green Hydrogen and associated equipment such as Electrolysers
- Additional Working Capital Requirement
- General Corporate Purpose
About Rajesh Power Services Limited
Founded in 1971, Rajesh Power Services Limited (RPSL) offers consultancy and specialised services to state transmission and distribution companies, private utilities, and industries. The company strongly focuses on both renewable and non-renewable power sectors, providing expertise in EPC contracting for transmission and distribution utilities.
RPSL’s service portfolio includes EHV underground cables, AIS/GIS substations, MVCC conductor installations, and complete turnkey projects revamping distribution networks. It also provides tailored solutions for solar power supply arrangements and operates and maintains EHV, HV, MV, and LV substations and networks.
RPSL’s investment in HKRP Innovations Limited has strengthened its digital capabilities, particularly through IoT and cloud solutions for energy management. Key products include the Smart Feeder Management System, Virtual Feeder Segregation, and Solar Energy Data Management.
Major clients include GIFT City, Adani Renewables, Gujarat Metro Rail Corporation, and Reliance Industries. With 940 employees as of April 2024, RPSL continues to drive innovation across India's power sector.
Peer Details
The companies considered by Rajesh Power Services Limited as its peers include:
- Advait Infratech Limited
- Kay Cee Energy & Infra Limited
- Viviana Power Tech Limited
How to Check the Allotment Status of the Rajesh Power Services IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How to apply for Rajesh Power Services IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Rajesh Power Services IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Rajesh Power Services IPO
- Registered office: 380/3, Siddhi House, Opp. Lal Bunglows, B/H Sasuji Dinning Hall, Off C.G. Road, Navrangpura Ahmedabad Gujarat- 380006, India
- Phone: +91 6358736465
- E-mail: cs@rajeshpower.com
Rajesh Power Services IPO Financials
| Particulars | For the period ended September 30, 2024 | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|---|
| Revenue from operation (in ₹ lakh ) | 31,305.99 | 28,496.98 | 20,717.94 | 14,680.88 |
| Profit After Tax (PAT) (in ₹ lakh) | 2,768.25 | 2,602.29 | 675.15 | 344.6 |
| Net Worth (in ₹ lakh) | 11,122.22 | 8,430.05 | 5,865.80 | 5,228.69 |
| Return on Equity (RoE) (%) | 24.89% | 36.41% | 12.17% | 6.49% |
| Return on Capital Employed (RoCE) (%) | 25.61% | 29.99% | 15.15% | 11.32% |
| Earning Per Share (EPS)-in absolute ₹ | 18.19 | 17.10 | 4.44 | 2.26 |
Know before investing
Strengths
6-
Strong financial growth with a 40.55% CAGR in total income.
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Robust order book of ₹2,35,817.18 lakhs ensures future revenue.
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Expertise in executing EPC projects across power sector segments.
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Proven capabilities in renewable energy, operating 1 MW solar plant.
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Strategic investment in HKRP Innovations for tech-based power solutions.
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Expanding into green hydrogen and electrolyser expertise with BARC support.
Risks
6-
Revenue depends heavily on government bid acceptance and competition.
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EPC business is highly working capital intensive, risking cash flow.
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Reliance on leasehold land for solar projects may pose risks.
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Expertise in green hydrogen is in the early developmental stages.
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Legal proceedings may impact business and financial stability.
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Operational delays risk project penalties, affecting revenue and reputation.
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Rajesh Power Services IPO FAQs
Rajesh Power Services’s IPO is a book-built IPO. It will be open from November 25, 2024, to November 27, 2024.
The Basis of Allotment will happen on Thursday, November 28, 2024.
The IPO subscription window will open on November 25, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 400 shares.
The listing date for Rajesh Power Services is Monday, December 2, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Rajesh Power Services’ financial statements, download the IPO’s RHP document.
