Rajesh Power Services Limited IPO Overview
The Rajesh Power Services IPO is a book-built issue with a total size of ₹160.47 crores. The issue consists of a fresh issue of 2.79 million shares, aggregating to ₹93.47 crores, and an offer for sale of 2 million shares, aggregating to ₹67.00 crores.
The IPO will open for subscription on November 25, 2024, and close on November 27, 2024. The allotment is expected to be finalized by Thursday, November 28, 2024. The Rajesh Power Services IPO will list on the BSE SME with a tentative listing date set for Monday, December 2, 2024.
The price band for the IPO is set between ₹320 and ₹335 per share. The minimum lot size for retail investors is 400 shares, which requires a minimum investment of ₹134,000. For HNI investors, the minimum investment is 2 lots (800 shares), amounting to ₹268,000.
Isk Advisors Pvt Ltd is the book running lead manager for the Rajesh Power Services IPO, and Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for the IPO is Sunflower Broking.
For more detailed information, please refer to the Rajesh Power Services IPO RHP.
Rajesh Power Services IPO Information
| IPO Date | November 25, 2024 to November 27, 2024 |
|---|---|
| Listing Date | Monday, December 2, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹320 to ₹335 per share |
| Lot Size | 400 Shares |
| Total Issue Size | 4,790,000 shares (aggregating up to ₹160.47 Cr) |
| Fresh Issue | 2,790,000 shares (aggregating up to ₹93.47 Cr) |
| Offer for Sale | 2,000,000 shares of ₹10 (aggregating up to ₹67.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Shareholding Pre-Issue | 15,217,392 |
| Shareholding Post-Issue | 18,007,392 |
| Market Maker | 244,000 shares Sunflower Broking |
Rajesh Power Services IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
Rajesh Power Services IPO Schedule (Tentative Dates)
The Rajesh Power Services IPO will be open for subscription from November 25, 2024 to November 27, 2024.
| IPO Open Date | Monday, November 25, 2024 |
|---|---|
| IPO Close Date | Wednesday, November 27, 2024 |
| Basis of Allotment | Thursday, November 28, 2024 |
| Initiation of Refunds | Friday, November 29, 2024 |
| Credit of Shares to Demat | Friday, November 29, 2024 |
| Listing Date | Monday, December 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 27, 2024 |
Rajesh Power Services IPO Lot Size
Investors can place bids for a minimum of 400 shares, with additional bids in multiples of 400 shares. The table below illustrates the minimum and maximum investment amounts for both retail investors and HNIs, based on the number of shares and corresponding amounts.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 400 | ₹134,000 |
| Retail (Max) | 1 | 400 | ₹134,000 |
| HNI (Min) | 2 | 800 | ₹268,000 |
Rajesh Power Services IPO Promoter Holding
The promoters of the company are Mr. Rajendra Baldevbhai Patel, Mr. Kurang Ramchandra Panchal, Mr. Kaxil Prafulbhai Patel, and Mr. Utsav Nehal Panchal.
| Share Holding Pre-Issue | 100% |
| Share Holding Post-Issue | 61.74% |
Rajesh Power Services IPO – Anchor Investors Details
Rajesh Power Services IPO has raised ₹44.77 crore from anchor investors. The anchor bidding for Rajesh Power Services IPO took place on November 22, 2024.
| Bid Date | November 22, 2024 |
|---|---|
| Shares Offered | 1,336,400 |
| Anchor Portion Size (In Cr.) | 44.77 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 26, 2025 |
About Rajesh Power Services Limited
Founded in 1971, Rajesh Power Services Limited (RPSL) is a leading consultancy firm offering services to state transmission and distribution companies, as well as private utilities and industries in the power sector.
The company has made strategic investments in HKRP Innovations Limited (HKRP), which provides tailored IT solutions for the energy industry. HKRP specializes in IoT and cloud-based technologies for power grids and renewable energy systems. Some of their key products include:
- Smart Feeder Management System (SFMS)
- Virtual Feeder Segregation (VFS)
- Real-Time Monitoring System for Oil Wells (RTMS)
- Solar Energy Data Management (SEDM)
Rajesh Power Services operates across both Renewable and Non-Renewable energy segments, providing a wide range of services to the power sector.
Core Services Offered by Rajesh Power Services:
- EHV Underground Cables and Transmission Lines
- EHV AIS/GIS Substations, including Civil Works
- HV/MV/LV Underground Cable Laying and Overhead MVCC Conductor Installation
- Revamping Distribution Networks, including Substations, RMUs, Transformers, and Cables (Turnkey Basis)
- Power Supply Projects for Solar Power Plants
- Operation and Maintenance of EHV, HV, MV, and LV Substations
- Operation and Maintenance of Transmission and Distribution Networks (EHV, HV, MV, LV)
Key Clients of Rajesh Power Services:
- GIFT City, Gandhinagar
- Gujarat Metro Rail Corporation Ltd., Gandhinagar
- IFFCO
- Adani Renewables
- Prestige
- Reliance Industries Limited
- Torrent Power Ltd.
- Dholera
- Jay Chemicals Ltd., Saykha
- Sabar Dairy, Himmatnagar
- Grindwell Norton Limited (Saint Gobain)
- Hindustan Coca Cola, and others.
Core Competencies:
Rajesh Power Services specializes in EPC contracting and is recognized for providing comprehensive solutions to power transmission and distribution utilities. The company has maintained a strong track record in the power sector for over 20 years, successfully completing numerous projects.
Competitive Strengths:
- Consistent Financial Growth: Maintaining robust profit margins.
- Proven Project Execution: Successfully completed many large-scale power sector projects as an EPC contractor.
- Renewable Energy Expansion: Focused on growth in the renewable energy sector, with a particular emphasis on solar energy and hydrogen electrolyzers.
- Skilled Workforce: As of April 1, 2024, the company employs 940 people across various departments.
Rajesh Power Services Limited Financial Overview (Restated)
Rajesh Power Services Limited witnessed a significant growth in its financial performance, with revenue rising by 39.72% and profit after tax (PAT) surging by 285.44% between the fiscal years ending March 31, 2024, and March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 33,822.42 | 24,039.00 | 19,823.38 | 17,562.82 |
| Revenue | 31,785.09 | 29,506.07 | 21,117.57 | 14,936.84 |
| Profit After Tax | 2,768.25 | 2,602.29 | 675.15 | 344.60 |
| Net Worth | 11,122.22 | 8,430.05 | 5,865.80 | 5,228.69 |
| Reserves and Surplus | 9,600.48 | 6,908.31 | 4,344.06 | 3,706.95 |
| Total Borrowing | 7,973.04 | 7,767.08 | 5,971.20 | 6,243.33 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
As of September 30, 2024, the market capitalization of Rajesh Power Services IPO stands at ₹603.25 crore.
| KPI | Values |
|---|---|
| ROE | 24.89% |
| ROCE | 25.61% |
| Debt/Equity | 0.92 |
| RoNW | 25.47% |
| P/BV | 4.55 |
| PAT Margin (%) | 8.11 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 17.1 | 30.75 |
| P/E (x) | 19.59 | 10.9 |
Note:
- The Pre-IPO EPS is calculated based on the pre-issue shareholding as of the date of the RHP and the latest FY earnings as of March 31, 2024, as available in the RHP.
- The Post-IPO EPS is calculated based on the post-issue shareholding and annualized FY earnings as of September 30, 2024, as available in the RHP.
Objects of the Issue (Rajesh Power Services IPO Objectives)
The purpose of the Net Issue is to raise funds for the following objectives:
- Capital Expenditure:
- Acquisition of cable identification, testing, and fault location equipment.
- Establishment of a 1300 KW DC Solar Power Plant.
- In-house development of technical expertise for the production of green hydrogen, including the procurement of associated equipment such as electrolysers.
- Additional Working Capital Requirements.
- General Corporate Purposes.
Rajesh Power Services IPO Prospectus
Rajesh Power Services Limited Contact Details
Rajesh Power Services Limited
380/3, Siddhi House, Opp. Lal Bunglows
B/H Sasuji Dinning Hall, Off C.G. Road,
Navrangpura Ahmedabad - 380006
Phone: +91 6358736465
Email: cs@rajeshpower.com
Website: https://www.rajeshpower.com/
Rajesh Power Services IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Rajesh Power Services IPO Lead Manager(s)
- Isk Advisors Pvt Ltd
Rajesh Power Services IPO Subscription Information
Subscription data will be available once the IPO is open for subscription.
Rajesh Power Services IPO GMP (Grey Market Premium)
As of November 18, 2024, 01:35 PM, the Grey Market Premium (GMP) for the Rajesh Power Services SME IPO is ₹0. With the IPO price band set at ₹335.00, the estimated listing price for the Rajesh Power Services SME IPO is ₹335, which is the cap price plus today’s GMP. The expected percentage gain or loss per share is 0.00%.
We update the GMP daily, and based on the trends from the past three sessions, no significant movement has been observed in the GMP. It is expected that this trend will continue until the listing day. Stay tuned for daily updates on the price trend of the Rajesh Power Services SME IPO GMP and its expected listing price.
Please note that the GMP prices provided are related to grey market news. We do not engage in grey market transactions or recommend trading in the grey market.
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 18-11-2024 | 335.00 | ₹0 | - | ₹335 (0%) | 18-Nov-2024 12:43 |
| 17-11-2024 | 335.00 | ₹0 | - | ₹335 (0%) | 17-Nov-2024 8:07 |
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