December 2, 2024
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Rajesh Power IPO GMP grey market premium, review, Subscription, allotment, listing estimate @
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Rajesh Power listing Review
On 2nd December 2024, the scrip is listed at Rs. 636.50. The listing has been above the expectations of the grey market players.
Rajesh Power IPO allotment Link
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Subscription status of Rajesh Power IPO
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Rajesh Power Services IPO Price Rs. 335 Lot 400 shares, Rs. 160.47 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 46.39 | 138.46 | 31.96 | 59.00 | 1,55,371 (38.73x) |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Rajesh Power?
Rajesh Power Services Limited (RPSL), established in 1971, is a leading consultancy provider specializing in power transmission and distribution. The company offers expert services to state-owned transmission and distribution companies, private utilities, and industries across India.
In addition to its core consultancy services, RPSL has made strategic investments in HKRP Innovations Limited (HKRP), a company that delivers tailored IT solutions for the energy sector. HKRP focuses on cutting-edge technologies such as IoT and cloud-based solutions, catering to power grids and renewable energy systems. Key offerings from HKRP include:
- Smart Feeder Management System (SFMS)
- Virtual Feeder Segregation (VFS)
- Real-Time Monitoring System for Oil Wells (RTMS)
- Solar Energy Data Management (SEDM)
RPSL serves both the renewable and non-renewable segments of the power industry, offering a broad range of services designed to meet the needs of modern power infrastructure. These include:
- EHV Underground Cables and Transmission Lines
- EHV AIS/GIS Substations, including Civil Works
- HV/MV/LV Underground Cable Laying and Overhead MVCC Conductor Installation
- Turnkey Revamping of Distribution Networks, including Substations, RMUs, Transformers, and Cables
- 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 Networks
RPSL’s diverse client base includes prominent names such as GIFT City, Gandhinagar, Gujarat Metro Rail Corporation Ltd., IFFCO, Adani Renewables, Reliance Industries Ltd., Torrent Power Ltd., Dholera, Grindwell Norton (Saint Gobain), Hindustan Coca-Cola, and Sabar Dairy, among others.
Specializing in EPC (Engineering, Procurement, and Construction) contracting, Rajesh Power Services Limited continues to be a trusted partner for power transmission and distribution utilities, delivering innovative, reliable, and scalable solutions to meet the growing energy demands.
Get more information about the company @
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Rajesh Power IPO Details |
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| IPO opens on | 25 November 2024 |
| IPO closes on | 27 November 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 4790,000 Shares / Rs 160.47 Crore |
| * Fresh Issue | 2790,000 Shares / Rs 93.47 Crore |
| * Offer for Sale – | 2000,000 shares / Rs. 67.00 crore |
| Market Maker Portion | 244000 Shares |
| Net offer to Public | 4546000 Shares/ Rs. 152.29 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 320-335 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 400 Shares |
| Listing will at | BSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (50%) | 2273000 | 76.15 |
| NII (15%) | 681900 | 22.84 |
| RII (35%) | 1591100 | 53.30 |
| Total Shares | 4546000 | 152.29 |
| Retail portion will be oversubscribed by |
3978 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 400 Shares | Rs.134000 |
| Min HNI Application | 800 Shares | Rs.268000 |
Who are the Promoters of Rajesh Power?
The Promoters of the company are Mr. Rajendra Baldevbhai Patel, Mr. Kurang Ramchandra Panchal, Mr. Kaxil Prafulbhai Patel And Mr. Utsav Nehal Panchal.
What are the Objects of Rajesh Power IPO?
The Offer comprises of fresh issue of shares & offer for sale
The Objects of the Net Issue is to raise funds for:
- 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 Purposes.
Tentative timetable |
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| IPO opens on | 25 November 2024 |
| IPO Closes on | 27 November 2024 |
| IPO Allotment on | 28 November 2024 |
| Refund Initiation | 29 November 2024 |
| Credit of Shares | 29 November 2024 |
| Listing on | 2 December 2024 |
| Registered Office of the Company Rajesh Power Services Limited 380/3, Siddhi House, Opp. Lal Bunglows B/H Sasuji Dinning Hall, Off C.G. Road, Navrangpura Ahmedabad – 380006, |
| Who is the Lead Manager of this IPO? Isk Advisors Pvt Ltd |
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Who is the Registrar to IPO? Bigshare Services Pvt Ltd |
Rajesh Power IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Rajesh Power IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 149.37 | 3.44 | ||
| 2022-23 | 211.18 | 6.75 | ||
| 2023-24 | 295.06 | 26.02 | 17.10 | 30.87 |
| Book Value of the Share on 31.03.2024 |
Rs | 55.40 | ||
| BV of the Share at cap price after IPO |
Rs. | |||
| Offer Price/upper band | Rs. | 335 | ||
IPO
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| Price/EPS of 23-24 | 19.59 |
| Price/BV Ratio | 4.55 |
| Price/BV after IPO | |
How Rajesh Power IPO compares with the Peers?
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Crore | |||
| Rajesh Power | 10 | 284.96 | 19.59 |
| Advait Infratech | 10 | 207.44 | 80.71 |
| KayCee | 10 | 64.46 | 37.00 |
| Viviana Powertech | 10 | 65.53 | 85.04 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Rajesh Power IPO Review
Rajesh Power Services Limited (RPSL), established in 1971, is a leading consultancy provider specializing in power transmission and distribution. The company offers expert services to state-owned transmission and distribution companies, private utilities, and industries across India.
In addition to its core consultancy services, RPSL has made strategic investments in HKRP Innovations Limited (HKRP), a company that delivers tailored IT solutions for the energy sector. HKRP focuses on cutting-edge technologies such as IoT and cloud-based solutions, catering to power grids and renewable energy systems.
In short, Rajesh Power Services Ltd. specializes in EPC contracting and providing services to power transmission and distribution utilities. As of April 1, 2024, the Company employs 940 people in various departments.
IPO Details: Size and Market Outlook
The IPO size is Rs. 160.47 crore, offering 4790,000 shares. While the size is relatively large compared to recent IPOs.
Strong Financial Performance and Reasonable Valuation
The company shown sharp rise in the performance. During the year 2021-22, it earned net profit of Rs. 3.44 crore on total income of Rs. 149.37 crore whereas during the year 2023-24, the net profit has zoomed to Rs. 26.02 crore on total income of Rs. 295.06 crore. So, the net profit ratio to total income has moved up to 8.82% from 2.30%. During the year 2021-22, the current asset ratio to total income was 81.36% (295 days) and it has declined to 58.82% (214 days). So current ratio position has improved during last 3 years and it is good sign.
+ from fundamental angle: May Apply
+ from grey market angle: so-so
Quicklinks
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Rajesh Power IPO GMP grey market premium
Rajesh Power IPO FAQs
What is Rajesh Power IPO?
This is a SME IPO of 4790,000 equity shares of the face value of Rs. 10 aggregating up to Rs.160.47 Crores. The issue is priced at Rs.320-335 per share. The minimum order quantity is 400 Shares.
When will Rajesh Power IPO subscription open?
Rajesh Power IPO opens on November 25, 2024, and closes on November 27, 2024.
What is the lot size of Rajesh Power IPO?
Rajesh Power IPO lot size is 400 Shares, and the minimum amount required is Rs.134000
How to apply for Rajesh Power IPO?
You can apply in Rajesh Power IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is Rajesh Power IPO allotment?
The finalization of Basis of Allotment for Rajesh Power IPO will be done on November 28, 2024, and the allotted shares will be credited to your demat account by November 29, 2024.
When is Rajesh Power IPO listing date?
Rajesh Power IPO listing date is December 2, 2024.
