Rajesh Power Services IPO is set to raise ₹160.47 crore, comprising a fresh issue of 27.9 lakh shares worth ₹93.47 crore and an Offer for Sale (OFS) of 20 lakh shares valued at ₹67 crore. The IPO will be open for subscription from November 25, 2024, to November 27, 2024. The shares are priced within a range of ₹319 to ₹335 per share. Investors need to apply for a minimum of 400 shares per lot, which requires an investment of ₹134,000. For high-net-worth individuals (HNIs), the minimum application size is 2 lots (800 shares), amounting to ₹268,000.
The allotment of shares is expected to be finalized on November 28, 2024. Once listed, Rajesh Power Services shares will trade on the BSE SME platform, with a tentative listing date set for December 2, 2024. This IPO presents a chance for investors to become part of a growing company while accommodating retail and HNI investors with reasonable investment thresholds.
The Rajesh Power Services IPO, a promising SME public offering, is open for subscription from November 25, 2024, to November 27, 2024. The IPO aims to raise ₹160.47 crore, which includes a fresh issue of ₹93.47 crore and an offer for sale worth ₹67.00 crore.
Overview of Contents
Rajesh Power Services IPO Overview
| IPO Date | November 25, 2024 to November 27, 2024 |
|---|---|
| Listing Date | 2nd December 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹319 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 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 15,217,392 |
| Share holding post issue | 18,007,392 |
| Market Maker portion | 244,000 shares |
- Face Value: ₹10 per share
- Price Band: ₹320-₹335 per share
- Lot Size: Minimum of 400 shares (₹134,000 per lot)
- Tentative Listing Date: December 2, 2024
- Listing Exchange: BSE SME
Important IPO Dates
| 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 |
Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
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.
Before the IPO, the promoters hold 100% of the company’s shares. After the IPO, their shareholding will reduce to 73.40%.
| Share Holding Pre Issue | 100% |
|---|---|
| Share Holding Post Issue | 73.40% |
Anchor Investors Details
Rajesh Power Services IPO has successfully raised ₹44.77 crore from anchor investors. The anchor bidding took place on November 22, 2024. Key details about the anchor investment are as follows:
| 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 |
Rajesh Power Services is a leading engineering and contracting company specializing in underground power transmission and infrastructure EPC (Engineering, Procurement, and Construction). The company provides end-to-end solutions including design, consultancy, project execution, and maintenance.
Its extensive portfolio includes projects under the Revamped Distribution Sector Scheme (RDSS) and Robust Network Scheme by Gujarat DISCOMs, along with key metro, high-speed rail corridor, and data center projects.
The firm has also invested in HKRP Innovations Ltd, which offers advanced IT, IoT, and cloud-based solutions for the energy sector. Their innovative products include:
- Smart Feeder Management System (SFMS)
- Virtual Feeder Segregation (VFS)
- Real-Time Monitoring Systems (RTMS) for oil wells
- Solar Energy Data Management (SEDM)
Financial Information
| 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 |
Key Service Offerings:
- EHV Underground Cables and Transmission Lines
- AIS/GIS Substations and Civil Works
- Comprehensive Distribution Network Revamping
- Power Supply Projects for Solar Power Plants
- Maintenance of Transmission and Distribution Networks
The company’s impressive client list includes Gujarat Energy Transmission, Secure Meter, Torrent Power, and Power Grid Corporation, among others.
Key Performance Indicator
The market capitalization of Rajesh Power Services post-IPO is estimated at ₹603.25 crore. Below are the key financial metrics:
- Return on Equity (ROE): 24.89%
- Return on Capital Employed (ROCE): 25.61%
- Debt-to-Equity Ratio: 0.92
- Return on Net Worth (RoNW): 25.47%
- Price-to-Book Value (P/BV): 4.55
- Profit After Tax (PAT) Margin: 8.11%
These strong financial indicators reflect the company’s robust profitability, efficient use of capital, and stable financial position.
Rajesh Power Services IPO GMP (Grey Market Premium)
The Grey Market Premium (GMP) for Rajesh Power Services IPO is generating significant buzz among investors. GMP reflects the premium at which the IPO shares are traded in the grey market before their official listing. While the exact GMP values are yet to be updated, the strong fundamentals and growth potential of Rajesh Power Services have garnered robust interest among retail and institutional investors alike.
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated | GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 24-11-2024 | 335.00 | ₹90 Todays Movement - GMP No Change | 27400 | ₹425 (26.87%) | 24-Nov-2024 9:31 | 24-11-2024 | 335.00 | ₹90 Todays Movement - GMP No Change | 27400 | ₹425 (26.87%) | 24-Nov-2024 8:31 |
| 23-11-2024 | 335.00 | ₹90 Todays Movement - GMP No Change | 27400 | ₹425 (26.87%) | 23-Nov-2024 2:26 | 23-11-2024 | 335.00 | ₹90 Todays Movement - GMP No Change | 27400 | ₹425 (26.87%) | 23-Nov-2024 22:26 |
| 22-11-2024 | 335.00 | ₹90 Todays Movement - GMP Down | 27400 | ₹425 (26.87%) | 22-Nov-2024 12:29 | 22-11-2024 | 335.00 | ₹90 Todays Movement - GMP Down | 27400 | ₹425 (26.87%) | 22-Nov-2024 22:29 |
| 21-11-2024 | 335.00 | ₹111 Todays Movement - GMP No Change | 33700 | ₹446 (33.13%) | 21-Nov-2024 22:24 | 21-11-2024 | 335.00 | ₹111 Todays Movement - GMP No Change | 33700 | ₹446 (33.13%) | 21-Nov-2024 22:24 |
| 20-11-2024 | 335.00 | ₹111 Todays Movement - GMP Up | 33700 | ₹446 (33.13%) | 20-Nov-2024 22:30 | 20-11-2024 | 335.00 | ₹111 Todays Movement - GMP Up | 33700 | ₹446 (33.13%) | 20-Nov-2024 22:30 |
| 19-11-2024 | 335.00 | ₹50 Todays Movement - GMP Up | 15200 | ₹385 (14.93%) | 19-Nov-2024 23:31 | 19-11-2024 | 335.00 | ₹50 Todays Movement - GMP Up | 15200 | ₹385 (14.93%) | 19-Nov-2024 22:31 |
| 18-11-2024 | 335.00 | ₹0 Todays Movement - GMP No Change | -- | ₹335 (0%) | 18-Nov-2024 22:31 | 18-11-2024 | 335.00 | ₹0 Todays Movement - GMP No Change | -- | ₹335 (0%) | 18-Nov-2024 22:31 |
| 17-11-2024 | 335.00 | ₹0 Todays Movement - GMP No Change | -- | ₹ (0%) | 17-Nov-2024 15:03 | 17-11-2024 | 335.00 | ₹0 Todays Movement - GMP No Change | -- | ₹ (0%) | 17-Nov-2024 5:03 |
| 16-11-2024 | 335.00 | ₹0 Todays Movement - GMP No Change | -- | ₹ (0%) | 16-Nov-2024 19:32 | 16-11-2024 | 335.00 | ₹0 Todays Movement - GMP No Change | -- | ₹ (0%) | 16-Nov-2024 9:32 |
Should You Subscribe?
Rajesh Power Services operates in a high-demand niche, focusing on critical infrastructure and energy needs. Its diversified projects and innovation-driven approach position it as a key player in the sector. With strong client relationships and ongoing projects under prestigious schemes like RDSS, this IPO presents an attractive opportunity for investors seeking long-term growth in the power and infrastructure space.
Contact Details
Rajesh Power Services Limited is located at 380/3, Siddhi House, Opp. Lal Bunglows, B/H Sasuji Dining Hall, Off C.G. Road, Navrangpura, Ahmedabad – 380006. For inquiries, you can contact them via phone at +91 6358736465 or email at cs@rajeshpower.com. More details about the company can be found on their official website: www.rajeshpower.com.
The IPO registrar for Rajesh Power Services is Bigshare Services Pvt Ltd. They can be reached at +91-22-6263 8200 or via email at ipo@bigshareonline.com. Investors can also check the IPO status on their website: Bigshare IPO Status.
Regarding investment recommendations, brokers have given one ‘Subscribe’ rating for the Rajesh Power Services IPO, with no neutral or avoid ratings so far. Members have not provided any ratings yet.
FAQs on Rajesh Power Services IPO
What is the IPO size of Rajesh Power Services?
The IPO aims to raise ₹160.47 crore, comprising a fresh issue of ₹93.47 crore and an Offer for Sale (OFS) worth ₹67 crore.
What is the IPO price range and lot size?
The price range is ₹319 to ₹335 per share. The minimum lot size is 400 shares, requiring an investment of ₹134,000.
What are the IPO dates?
The IPO is open for subscription from November 25, 2024, to November 27, 2024.
When will the share allotment be finalized?
The allotment will be finalized on November 28, 2024.
What is the tentative listing date?
Rajesh Power Services is expected to list on the BSE SME platform on December 2, 2024.
What is the company’s post-IPO market capitalization?
The estimated market capitalization post-IPO is ₹603.25 crore.