Rajesh Power IPO Date, Price, GMP, Review, Details, Issue Date, Lot Size, Allotment, Subscription Status
Rajesh Power Services IPO will open for subscription on November 25, 2024, and close on November 27, 2024. This Book Built Issue aims to raise approximately ₹160.46 crores, consisting of a fresh issue of ₹93.46 crores and an offer for sale of ₹67 crores, through the sale of 2,000,000 equity shares with a face value of ₹10 each.
The IPO’s price band is ₹320 to ₹335 per share. The retail quota stands at 35%, with 50% allocated for Qualified Institutional Buyers (QIB) and 15% for High Net-Worth Individuals (HNI). The shares are expected to list on the BSE on December 2, 2024, and the allotment date is November 28, 2024.
In terms of financial performance, the company reported a revenue of ₹284.97 crores in FY 2024, up from ₹207.18 crores in FY 2023. Its profit also increased from ₹6.75 crores in FY 2023 to ₹26.02 crores in FY 2024. Given these positive financials, the IPO seems suitable for long-term investors.
Rajesh Power Services IPO Key Details:
- IPO Open Date: November 25, 2024
- IPO Close Date: November 27, 2024
- Face Value: ₹10 per equity share
- Price Band: ₹320 to ₹335 per share
- Issue Size: ₹160.47 crores
- Fresh Issue: ₹93.47 crores
- Offer for Sale: 2,000,000 equity shares
- Issue Type: Book Built Issue
- Listing: BSE SME
- Retail Quota: 35%
- QIB Quota: 50%
- NII Quota: 15%
IPO Market Lot Details:
- Minimum Market Lot: 400 shares
- Amount per Lot: ₹134,000
| Application Type | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 400 | ₹134,000 |
| Retail Maximum | 1 | 400 | ₹134,000 |
| S-HNI Minimum | 2 | 800 | ₹268,000 |
IPO Dates:
- IPO Open Date: November 25, 2024
- IPO Close Date: November 27, 2024
- Basis of Allotment: November 28, 2024
- Refunds: November 29, 2024
- Credit to Demat Account: November 29, 2024
- IPO Listing Date: December 2, 2024
Promoters:
- Mr. Rajendra Baldevbhai Patel
- Mr. Kurang Ramchandra Panchal
- Mr. Kaxil Prafulbhai Patel
- Mr. Utsav Nehal Panchal
About Rajesh Power Services:
Founded in 1947, Rajesh Power Services specializes in building, operating, and maintaining solar power plants across western India. In addition to solar power solutions, the company also offers a wide range of services including design, consultancy, procurement, execution, testing, and commissioning. The company has a significant presence in renewable energy, particularly solar power, and is exploring further growth opportunities in green hydrogen production.
As of September 2024, the company reported a revenue of ₹31,785.09 lakhs and a Profit After Tax (PAT) of ₹2,768.25 lakhs. Rajesh Power has also invested in HKRP Innovations Limited, a company providing IT solutions for the energy sector. This IPO seeks to raise ₹160.47 crores to fund capital expenditures, working capital, and general corporate purposes.
Financials:
The company’s financial performance shows consistent growth:
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
|---|---|---|---|---|
| 2022 | ₹146.81 | ₹144.97 | ₹3.45 | ₹175.63 |
| 2023 | ₹207.18 | ₹202.58 | ₹6.75 | ₹198.23 |
| 2024 | ₹284.97 | ₹261.00 | ₹26.02 | ₹240.39 |
IPO Valuation:
- ROE: 36.41%
- ROCE: 29.99%
- EBITDA Margin: 10.84%
- PAT Margin: 9.13%
- EPS (Basic): ₹17.10
- Price/Earnings (P/E) Ratio: N/A
- Return on Net Worth (RoNW): 30.87%
- Net Asset Value (NAV): ₹55.40
Peer Group Comparison:
| Company | EPS | P/E Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Advait Infratech Limited | ₹21.45 | 88.68 | 28.65 | ₹73.00 | ₹207.44 Cr. |
| Kay Cee Energy and Infra Limited | ₹7.61 | 42.49 | 14.67 | ₹40.72 | ₹64.47 Cr. |
| Viviana Power Tech Limited | ₹10.96 | 74.08 | 26.73 | ₹41.02 | ₹65.53 Cr. |
Use of IPO Proceeds:
- Purchase of cable identification, testing, and fault location equipment
- Setting up a 1300 KW DC Solar Power Plant
- Development of technical expertise in Green Hydrogen production and related equipment (Electrolysers)
- Working capital requirements
- General corporate purposes
Rajesh Power Services IPO Review:
- Canara Bank
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- IDBI Capital
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- SBICAP Securities
- Sharekhan
- SMC Global
- Sushil Finance
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- Ventura Securities
- Geojit
- Reliance Securities
- Capital Market
- BP Wealth
- ICICIdirect
- Choice Broking
IPO Registrar:
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website
IPO Lead Managers (Merchant Bankers):
Isk Advisors Pvt Ltd
Company Address:
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
Rajesh Power Services IPO FAQs:
- What is Rajesh Power Services IPO?
A Small and Medium Enterprises (SME) IPO raising ₹160.47 Crores with a price range of ₹320 to ₹335 per equity share. Listed on BSE. - When will the IPO open and close?
The IPO will open on November 25, 2024, and close on November 27, 2024. - How to apply for the IPO?
Apply online via ASBA through your bank account, UPI, or offline via your stock broker. - What is the minimum lot size?
The minimum lot size is 400 shares, with an application amount of ₹134,000. - What is the IPO listing date?
The shares will list on the BSE on December 2, 2024.
