Bookbuilding IPO | ₹160 Cr | Listed at BSE SME | Mon, Nov 25, 2024 - Wed, Nov 27, 2024
Rajesh Power IPO is a book build issue of ₹160.47 crores. The issue is a combination of fresh issue of 0.28 crore shares aggregating to ₹93.47 crores and offer for sale of 0.20 crore shares aggregating to ₹67.00 crores.
Rajesh Power IPO bidding started from Nov 25, 2024 and ended on Nov 27, 2024. The allotment for Rajesh Power IPO was finalized on Nov 28, 2024. The shares got listed on BSE SME on Dec 2, 2024.
Rajesh Power IPO price band is set at ₹335 per share. The lot size for an application is 400. The minimum amount of investment required by an retail is ₹1,34,000 (400 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (800 shares), amounting to ₹2,68,000.
ISK Advisors Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Sunflower Broking Pvt.Ltd..
Refer to Rajesh Power IPO RHP for detailed Information.
IPO Open
Mon, Nov 25, 2024
IPO Close
Wed, Nov 27, 2024
Issue Price
₹335 per share
Market Cap (Pre-IPO)
₹603.25 Cr
| IPO Date | 25 to 27 Nov, 2024 |
| Listed on | Mon, Dec 2, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹319 to ₹335 |
| Issue Price | ₹335 per share |
| Lot Size | 400 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 47,90,000 shares (agg. up to ₹160 Cr) |
| Reserved for Market Maker | 2,44,000 shares Sunflower Broking Pvt.Ltd. (agg. up to ₹8 Cr) |
| Fresh Issue (Ex Market Maker) | 25,46,000 shares (agg. up to ₹85 Cr) |
| Offer for Sale | 20,00,000 shares of ₹10 (agg. up to ₹67 Cr) |
| Net Offered to Public | 45,46,000 shares (agg. up to ₹152 Cr) |
| Share Holding Pre Issue | 1,52,17,392 shares |
| Share Holding Post Issue | 1,80,07,392 shares |
| BSE Script Code | 544291 |
| ISIN | INE0VN801010 |
Rajesh Power IPO comprises a total issue size of 47,90,000 shares. The net offer to the public is 45,46,000 shares, after excluding 2,44,000 shares allotted on a firm basis. Of the Net offer 22,50,000 (49.49%) are allocated to QIB, 6,91,200 (15.20%) allocated to NII 16,04,800 (35.30%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 22,50,000 | 49.49% | 46.97% |
| − Anchor Investor Shares Offered | 13,36,400 | 27.90% | |
| − QIB (Ex. Anchor) Shares Offered | 9,13,600 | 19.07% | |
| NII (HNI) Shares Offered | 6,91,200 | 15.20% | 14.43% |
| Retail Shares Offered | 16,04,800 | 35.30% | 33.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,44,000 | 5.09% | |
| Total Shares Offered | 47,90,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 400 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 400 | ₹1,34,000 |
| Retail (Max) | 1 | 400 | ₹1,34,000 |
| HNI (Min) | 2 | 800 | ₹2,68,000 |
Rajesh Power IPO raises ₹44.77 crore from anchor investors. Rajesh Power IPO Anchor bid date is November 22, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Nov 22, 2024 |
| Shares Offered | 13,36,400 |
| Anchor Portion (₹ Cr.) | 44.77 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Dec 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Feb 26, 2025 |
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
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
As of April 1, 2024, the Company employs 940 people in various departments.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 338.22 | 240.39 | 198.23 | 175.63 |
| Total Income | 317.85 | 295.06 | 211.18 | 149.37 |
| Profit After Tax | 27.68 | 26.02 | 6.75 | 3.45 |
| NET Worth | 111.22 | 84.30 | 58.66 | 52.29 |
| Reserves and Surplus | 96.00 | 69.08 | 43.44 | 37.07 |
| Total Borrowing | 79.73 | 77.67 | 59.71 | 62.43 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of cable identification, testing and fault location equipments | 17.95 |
| 2 | Setting up of DC Solar Power Plant having capacity of 1300 KW | 4.16 |
| 3 | Inhouse development of Technical Expertise in Production of Green Hydrogen and associated equipment such as Electrolysers | 3.00 |
| 4 | Additional Working Capital Requirement | 30.00 |
| 5 | General Corporate Purpose | 22.86 |
| KPI | Sep 30, 2024 |
|---|---|
| ROE | 24.89% |
| ROCE | 25.61% |
| Debt/Equity | 0.92 |
| RoNW | 25.47% |
| PAT Margin | 8.11% |
| Price to Book Value | 4.55 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 17.10 | 30.75 |
| P/E (x) | 19.59 | 10.9 |
| Promoter Holding | 100% | 73.4% |
| Market Cap | ₹603.25 Cr. |
The Rajesh Power Services IPO is subscribed 59 times on November 27, 2024 6:19:07 PM (Day 3). The public issue subscribed 31.96 times in the retail category, 46.39 times in the QIB category, and 138.46 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 46.39 | 9,13,600 | 4,23,84,000 | 53 |
| NII* | 138.46 | 6,91,200 | 9,57,02,400 | 10,926 |
| Retail | 31.96 | 16,04,800 | 5,12,89,600 | 1,28,240 |
| Total | 59 | 32,09,600 | 18,93,76,000 | 1,55,371 |
Total Application : 1,55,371
*Market Maker portion is not included to NII/HNI.
| Period Ended | 30 Sep 2024 |
| Consolidated | |
| Assets | 34,726.58 |
| Revenue | 32,184.96 |
| Profit After Tax | 2,854.72 |
| Net Worth | 11,208.68 |
| Reserves and Surplus | 9,686.94 |
| Total Borrowing | 8,102.71 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees including Underwriting Fees | 0.45 |
| 2 | Fees Payable to Registrar to the Offer | 0.05 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.10 |
| 4 | Fees Payable to Regulators including Stock Exchange | 0.10 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.05 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Syndicate Members Commission, Brokerage, Processing Fees, Underwriting fees and Miscellaneous Expenses) | 14.74 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹335.00 |
| Open | ₹636.50 |
| Low | ₹636.50 |
| High | ₹668.30 |
| Last Trade | ₹668.30 |
Lead Manager Reports
Rajesh Power IPO is a SME IPO of 47,90,000 equity shares of the face value of ₹10 aggregating up to ₹160 Crores. The issue is priced at ₹335 per share. The minimum order quantity is 400.
The IPO opens on Mon, Nov 25, 2024, and closes on Wed, Nov 27, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Rajesh Power IPO using UPI as a payment gateway. Zerodha customers can apply in Rajesh Power IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Rajesh Power IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Rajesh Power IPO opens on Mon, Nov 25, 2024 and closes on Wed, Nov 27, 2024.
Rajesh Power IPO lot size is 400, and the minimum amount required for application is ₹1,34,000.
You can apply in Rajesh Power IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Rajesh Power IPO will be done on Thursday, November 28, 2024, and the allotted shares will be credited to your demat account by Fri, Nov 29, 2024. Check the Rajesh Power IPO allotment status.
The Rajesh Power IPO listing date is on Mon, Dec 2, 2024.
