IPO

Rajesh Power Services Limited IPO

BSE SME

Listed On: Dec 2, 2024 at ₹ 636.5

₹ 268000 /800 Shares
*Min Investment

Check Allotment

25 Nov, 2024

Open Date

27 Nov, 2024

Close Date

28 Nov, 2024

Allotment Date

02 Dec, 2024

Listing Date
Rajesh Power Services IPO Issue Details
  • Issue Price ₹319-335 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 47,90,000 shares(aggregating up to ₹160.47 crore)
  • Fresh Share 27,90,000 shares(aggregating up to ₹93.47 crore)
  • Offer For Sale 20,00,000 shares(aggregating up to ₹67 crore)
  • Listing at BSE SME
  • List Price 636.5
  • Listing Date 2024-12-02
  • Lead Manager Isk Advisors Pvt Ltd
  • Registrar Bigshare Services Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 400 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)1400₹1,34,000
Retail(max)1400₹1,34,000
NII (min) 2800₹2,68,000
Rajesh Power Services IPO Reservation

Rajesh Power Services IPO offers total 47,90,000 shares. Out of which 9,13,600 (19.07%) allocated to QIB, 6,91,200 (14.43%) allocated to NII,16,04,800 (33.5%) allocated to RII, NA (NA%) allocated to employees and 13,36,400 (27.9%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered13,36,400 (27.9%)
Market Maker Shares Offered2,44,000 (5.09%)
QIB Shares Offered9,13,600 (19.07%)
NII (HNI) Shares Offered6,91,200 (14.43%)
Retail Shares Offered16,04,800 (33.5%)
Total Shares Offered47,90,000 (100%)
Rajesh Power Services IPO Documents
DRHP
RHP
Rajesh Power Services IPO Details


Rajesh Power Services Limited IPO is an SME IPO, priced at ₹319-335 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the BSE SME platform. The IPO comprises a total issue of 47,90,000 equity shares, aggregating up to ₹160.47 crores..

The IPO bidding window is open from Nov 25, 2024 to Nov 27, 2024. The allotment is expected to be finalized on Nov 28, 2024, and the tentative listing date is Dec 2, 2024.

The minimum lot size for Retail investors is 400 shares, with a minimum investment of ₹1,34,000. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,68,000.

Isk Advisors Pvt Ltd is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Sunflower Broking Private Limited will act as the market maker for this issue.

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Rajesh Power Services IPO Subscription Analysis And Details
Retail
31.96x
Total
59.00x
As onQIB / NIIRetailTotal
Shares Offered / Reserved913,600 / 691,2001,604,8003,209,600
Day 1 25-11-24 06:00 PM
0.00 / 1.74 x2.79 x1.77 x
Day 2 26-11-24 06:00 PM
1.63 / 5.49 x7.01 x5.15 x
Day 3 27-11-24 06:00 PM
46.39 / 138.46 x31.96 x59.00 x
Total No of Applications
1,55,371
Rajesh Power Services Valuations
EPS Pre IPO ₹17.1/-
EPS Post IPO ₹30.75/-
P/E Pre IPO 19.59
P/E Post IPO 10.90
ROE 24.89%
ROCE 25.61%
Debt/Equity 0.92
RoNW 25.47%
PAT Margin 8.11
Price to Book Value 4.55
Rajesh Power Services Company Financials
In Lakhs
In Lakh
31-Mar-2431-Mar-2331-Mar-22
Assets24,039.0019,823.3817,562.82
Revenue29,506.0721,117.5714,936.84
Profit After Tax2,602.29675.15344.60
Net Worth8,430.055,865.805,228.69
Reserves & Surplus6,908.314,344.063,706.95
Total Borrowing7,767.085,971.206,243.33
About Rajesh Power Services Company

Established in 1971, Rajesh Power Services Limited, RPSL, is one of the premier EPC contractors engaged in offering consultancy and turnkey solutions to state transmission and distribution companies, private utilities, and industries.

RPSL has invested in HKRP Innovations Limited, which is developing IoT and cloud-based IT solutions for the energy sector, including tools like Smart Feeder Management System (SFMS), Virtual Feeder Segregation (VFS), and Solar Energy Data Management (SEDM).

The company caters to both the renewable and non-renewable power sectors by providing services including:
Installation and maintenance of EHV underground cables, transmission lines, and substations (AIS/GIS).
Turnkey projects in the revamping of distribution networks, including substations and transformers.
Power supply arrangements for solar power plants.
Operation and maintenance of transmission and distribution networks on all voltage levels.

RPSL has had some of the most prominent clients in its roster, including names such as GIFT City, Gujarat Metro Rail Corporation, Adani Renewables, Reliance Industries, Torrent Power, and Hindustan Coca-Cola among many others.

RPSL has thus continued to promote growth in the power transmission and distribution services area.

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Rajesh Power Services - Promoter(s)

Mr. Rajendra Baldevbhai Patel

Mr. Kurang Ramchandra Panchal

Mr. Kaxil Prafulbhai Patel

Mr. Utsav Nehal Panchal

Pre Issue Share Holding : 100%

Post Issue Share Holding : 73.40%

Rajesh Power Services IPO - Issue Objectives
1

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

2

Additional Working Capital Requirement

3

General Corporate Purposes.

Rajesh Power Services IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Rajesh Power Services Limited17.1N/A55.4N/A30.876.05Standalone
Advait Infratech Ltd21.45N/A73N/A28.6526.06Standalone
Kay Cee Energy & Infra Limited7.61N/A40.72N/A14.677.94Standalone
Viviana Power Tech Limited10.96N/A41.02N/A26.7319.8Standalone

Notes:

  1. The P/E Ratio has been computed based on the closing market price of equity shares on December 13, 2024, divided by the Diluted EPS.
  2. Return on Net Worth (%) = Net profit after tax, as restated / Average shareholders' equity (including minority interest) as restated at year/period end.
  3. NAV is computed as the closing net worth (excluding minority interest) divided by the closing outstanding number of equity shares.
  4. Net worth means the aggregate value of the paid-up share capital of the Company and all reserves created out of profits and securities premium account and debit or credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, miscellaneous expenditure not written off, as per the restated balance sheet, but does not include reserves created out of revaluation of assets, write-back of depreciation as at year/ period end, as per Restated Financial Statement of Assets and Liabilities of the Company.
Contact Details

Rajesh Power Services

380/3, Siddhi House, Opp. Lal Bunglows, B/H Sasuji Dinning Hall, Off C.G. Road, Navrangpura Ahmedabad - 380006

+91 6358736465

cs@rajeshpower.com

https://www.rajeshpower.com/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

https://ipo.bigshareonline.com/ipo_status.html