Rajesh Power Services is set to launch its IPO as a book-built issue, raising a total of Rs 160.47 crores. The offering comprises a fresh issue of 27.9 lakh shares aggregating to Rs 93.47 crores and an offer for sale of 20 lakh shares worth Rs 67.00 crores.
The IPO will be open for subscription from November 25, 2024, to November 27, 2024. The allotment of shares is expected to be finalized on Thursday, November 28, 2024, with the company planning to list on the BSE SME platform on Monday, December 2, 2024.
Rajesh Power Services operates in the power sector consultancy and services. They provide Engineering, Procurement, and Construction (EPC) contracting services to state transmission and distribution companies, as well as private utilities. Their services include turnkey project execution, operation and maintenance, and consultancy for both renewable and non-renewable energy projects.
The price band for the IPO is set at ₹319 to ₹335 per share. The minimum application size is 400 shares, requiring a retail investor to make a minimum investment of ₹134,000. High Net-worth Individuals (HNI) can invest in multiples of 2 lots, amounting to 800 shares and a minimum of ₹268,000.
Isk Advisors Pvt Ltd is serving as the book-running lead manager for the issue, while Bigshare Services Pvt Ltd is the registrar. Sunflower Broking is the designated market maker for the Rajesh Power Services IPO.
Rajesh Power Services IPO Details:
| Company Name | Rajesh Power Services Limited |
| Sector | Power Sector Consultancy and Services |
| IPO Type | SME |
| IPO Open date | 25th Nov 2024 |
| IPO Close date | 27th Nov 2024 |
| OFS | |
| Listing Exchanges | BSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Rajesh Power Services IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 400 | 1,34,000 |
| HNI (Min) | 2 | 800 | 2,68,000 |
Rajesh Power Services IPO Timeline:
| IPO Open Date | 25th Nov 2024 |
| IPO Close Date | 27th Nov 2024 |
| Basis of Allotment | 28th Nov 2024 |
| Refund Initiation Date | 29th Nov 2024 |
| Shares Credit to Demat | 29th Nov 2024 |
| Listing Date | 02nd Dec 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Rajesh Power Services’ Financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Power Sector Consultancy and Services Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Rajesh Power Services and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
