Rajesh Power Services IPO
- IPO Date25 Nov, 2024 to 27 Nov, 2024
- Listing Date02 Dec, 2024
- Face Value₹10 per share
- Issue Price₹320 to ₹335 per share
- Lot Size400 Shares
- Minimum Investment₹1,34,000
- Listing AtBSE SME
- Total Issue Size47,90,000 Shares
(aggregating up to ₹160.47 Cr) - Fresh Issue27,90,000 Shares
(aggregating up to ₹93.47 Cr)
- Offer for Sale20,00,000 Shares
(aggregating up to ₹67.00 Cr) - Issue TypeBook Built Issue IPO
- Share holding pre issue1,52,17,392
- Shareholding post issue1,80,07,392
IPO Dates
Closing Date
27 Nov, 2024
Initiation of Refunds
29 Nov, 2024
Listing Date
02 Dec, 2024
25 Nov, 2024
Opening Date
28 Nov, 2024
Basis of Allotment
29 Nov, 2024
Credit of Shares
Rajesh Power Services Lot Size
Investors can bid for a minimum of 400 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| S-HNI (Min) | 2 | 800 | ₹2,68,000 |
| S-HNI (Max) | - | - | - |
| Retail (Min) | 1 | 400 | ₹1,34,000 |
| B-HNI (Min) | - | - | - |
| Retail (Max) | 1 | 400 | ₹1,34,000 |
Rajesh Power Services 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.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 100% | 61.74% |
Rajesh Power Services COMPANY INFORMATION
Rajesh Power Services IPO is a book built issue of Rs 160.47 crores. The issue is a combination of fresh issue of 27.9 lakh shares aggregating to Rs 93.47 crores and offer for sale of 20 lakh shares aggregating to Rs 67.00 crores. Rajesh Power Services IPO opens for subscription on November 25, 2024 and closes on November 27, 2024. The allotment for the Rajesh Power Services IPO is expected to be finalized on Thursday, November 28, 2024. Rajesh Power Services IPO will list on BSE SME with tentative listing date fixed as Monday, December 2, 2024. Rajesh Power Services IPO price band is set at ₹320 to ₹335 per share. The minimum lot size for an application is 400 Shares. The minimum amount of investment required by retail investors is ₹134,000. The minimum lot size investment for HNI is 2 lots (800 shares) amounting to ₹268,000. Isk Advisors Pvt Ltd is the book running lead manager of the Rajesh Power Services IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Rajesh Power Services IPO is Sunflower Broking. Refer to Rajesh Power Services IPO RHP for detailed information.
Established in 1971, Rajesh Power Services Limited provides consultancy to state transmission and distribution companies and private utilities and industries.
Rajesh Power Services Limited has invested in HKRP Innovations Limited (HKRP), which offers customized IT solutions for the energy sector. HKRP specializes in IoT and cloud-based solutions for power grids and renewable energy, providing tools like the Smart Feeder Management System (SFMS), Virtual Feeder Segregation (VFS), Real-Time Monitoring System for Oil Wells (RTMS), and Solar Energy Data Management (SEDM).
The company offers services to both the Renewable and Non-Renewable segments of the power sector.
The company provides the following 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 the entire Distribution Network including Substations, RMUs, Transformers & Cables on Turnkey Basis
- Power Supply Arrangement Projects for Solar Power Plants
- Operation and Maintenance of EHV, HV, MV & LV Substations
- Operation and Maintenance of EHV, HV, MV & LV Transmission and Distribution Network
The company clients include 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 so on and so forth.
Rajesh Power Services Ltd. (RPSL) specializes in EPC contracting and providing services to power transmission and distribution utilities.
Cometitive Strength
- Constant Financial Growth maintaining healthy profit margins.
- Successfully completed numerous power sector projects as an EPC contractor for over 20 years.
- Looking for ways to expand our business in renewable energy, focusing on solar energy and hydrogen electrolyzers.
As of April 1, 2024, the Company employs 940 people in various departments.
Rajesh Power Services IPO
IPO Overview and Key Highlights
Rajesh Power Services is launching its Initial Public Offering (IPO) comprising a fresh issue of up to 27,90,000 equity shares and an Offer for Sale (OFS) of up to 20,00,000 equity shares, aggregating to a total issue of 47,90,000 equity shares. This IPO aims to raise funds for expansion, working capital requirements, and general corporate purposes. Shares will be listed on the SME Platform of BSE.
Key IPO Details
- Type of Issue: Book Built
- Total Issue Size: 47,90,000 equity shares
- Face Value: Rs 10 per share
- Price Band: Rs 320 to Rs 335
- Offer Opens: November 22, 2024
- Offer Closes: November 27, 2024
- Listing Exchange: SME Platform of BSE.
Company Overview
Established in Gujarat, Rajesh Power Services is a prominent player in the power sector. It provides engineering, procurement, and construction (EPC) services, focusing on power transmission and distribution. The company also offers turnkey solutions for extra high voltage substations and underground power systems, along with operations and maintenance services for solar plants and substations. Their client base includes private, semi-government, and government power utilities.
Financial Overview
The company has displayed steady financial growth, supported by its diversified service offerings in the power sector. Proceeds from the IPO are expected to enhance working capital and support growth initiatives.
Key Strengths of Rajesh Power Services
- Established Expertise: Over a decade of experience in power transmission and EPC services.
- Diverse Services: Comprehensive solutions across power generation, transmission, and maintenance.
- Prominent Clientele: Includes top private and government power utilities in Gujarat.
IPO Pros and Cons
Pros
- Sector Growth: Increasing demand for renewable energy and power infrastructure development.
- Diversified Services: Reduces dependency on a single revenue stream.
- Fresh Issue Benefits: IPO proceeds will support growth and improve financial health.
Cons
- Project-Based Revenue: Dependence on government and private contracts may lead to revenue fluctuations.
- Competitive Market: Faces competition from established players in the power sector.
- First Public Issue: Uncertainty regarding stock performance post-listing.
Risk Factors
Potential investors should consider the following risks:
- Regulatory Risks: Changes in energy and power sector regulations may impact operations.
- Economic Sensitivity: Dependency on capital-intensive projects makes the business vulnerable to economic conditions.
- Geographical Concentration: Heavy reliance on Gujarat's power market limits geographic diversification.
Conclusion
The Rajesh Power Services IPO provides a promising investment opportunity in the growing power infrastructure sector. With its established expertise and diversified offerings, the company is well-positioned to benefit from sectoral growth. However, investors should carefully evaluate risks, including project dependencies and regulatory challenges, before investing.
FAQs About Rajesh Power Services Ipo
Rajesh Power Services IPO will open on 25 Nov, 2024 and close on 27 Nov, 2024. Investors must apply within this period to participate.
The Rajesh Power Services IPO price band is set between ₹320.00 and ₹335.00 per share. The minimum lot size is 400, requiring an investment of at least ₹134000.00.
The Rajesh Power Services IPO shares are expected to be listed on 02 Dec, 2024, subject to regulatory approvals and final allotment.
You can track your Rajesh Power Services IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Rajesh Power Services IPO will be listed on major stock exchanges such as BSE, where you can trade shares once they are listed.