Rajesh Power Services Day 1 - Live Updates: Key Highlights, Subscription Status, and Insights

Investor Category Shares Offered

Use of Proceeds

The company plans to use the money raised via the public issue for the following purposes:

• Purchasing equipment used for cable identification, testing and fault location.
• Setting up of the DC Solar Power Plant having a capacity of 1,300 KW.
• Developing in-house technical expertise for the production of Green Hydrogen and purchase of associated equipment such as electrolysers.
• Additional working capital requirements.
• General corporate purposes.

Rajesh Power Services IPO Subscription Status

(November 25, 2024, 01:38:30 AM)

On its first day of bidding, the Rajesh Power Services IPO subscribed at 0.90 times the shares on offer. The Retail category subscribed 1.44 times their allotted quota. NIIs subscribed 0.86 times their quota, while QIBs subscribed 0 times their allotted portion.

Rajesh Power Services Overview

• Rajesh Power Services was established in 1971.
• The company provides Engineering, Procurement and Construction (EPC) contracting services to state transmission and distribution companies and private utilities.
• It provides EPC services for extra-high-voltage underground cables and transmission lines, HV/MV/LV underground cable layout, overhead MVCC conductor installation, and other such services.
• Notable clients of the company include GIFT City Gujarat, Gujarat Metro Rail Corp., Adani Renewables and Reliance Industries Limited.
• RPSL offers services to the renewable power sector (solar power) and non-renewable power sector. It works as an engineering, procurement and construction (EPC) contractor and provides services to power transmission and distribution utility companies.
• The company offers services for implementing Turnkey projects for laying extra-high-voltage cables and transmission lines, setting up extra-high-voltage (EHV) substations, and designing and implementing underground power distribution systems.
• It is also into providing operations and maintenance services, which include operating and maintaining solar plants and EHV substations. Further, the company is also engaged in providing utility services to power plants and power transmission companies. Services include cable fault location and rectification, replacement, and retrofitting of transformers and switch gears.

Rajesh Power Services Financials

• Rajesh Power Services Ltd. reported revenue of Rs 295.06 crore in FY24, a 39% year-on-year gain from Rs 211.17 crore in the previous fiscal year.
• The company’s profit after tax also increased 285% at Rs 26.02 crore in FY24 from Rs 6.75 crore in FY23.
• In Q2 FY25, the company reported revenue of Rs 317.85 crore and a net profit of Rs 27.68 crore.

Key Ratios

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