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Rajesh Power Services IPO
Rajesh Power Services Ltd
₹1,27,600 /400 sharesMinimum Investment
Rajesh Power Services IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹335.00 | ₹636.50 | ₹301.50 (90.00%) |
Rajesh Power Services IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 25 Nov ‘24 - 27 Nov ‘24 | ₹1,27,600 | 400 | ₹319 - ₹335 |
| Issue Size | IPO Doc |
|---|---|
| 160.47Cr | RHP PDF |
Subscription rate
As of 27 Nov'24, 05:00 PM
| Qualified Institutional Buyers | 41.24x |
| Non-Institutional Investor | 89.96x |
| Retail Individual Investor | 26.06x |
| Total | 47.38x |
About Rajesh Power Services
Founded in
1971
Managing director
Mr. Kurang Ramchandra Panchal
Parent organisation
Rajesh Power Services Ltd
Strengths & Financials of Rajesh Power Services
Strengths
Risks
Rajesh Power Services claims that it gained expertise in constructing, operating, and maintaining solar power plants in western India. It commissioned a power supply project for Adani's 300 MW solar plant in Jaisalmer, Rajasthan.
The company set up a 1 MW solar power plant in Gujarat in 2012 under the state’s first solar scheme.
Rajesh Power Services Limited is ISO 14001:2015 certified for environmental management systems, ISO 45001:2018 for occupational health and safety management systems, ISO 50001:2011 for energy management systems, and ISO 9001:2015 for quality management systems.
RPSL has invested in HKRP Innovations Limited, which provides Internet of Things (IoT) and cloud-based solutions for the energy sector.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT) over the past few years. Revenue from operations increased from Rs 146.81 crore in FY22 to Rs 207.18 crore in FY23 to Rs 284.97 crore in FY24. PAT increased from Rs 3.45 crore in FY22 to Rs 6.75 crore in FY23 to Rs 26.02 crore in FY24.
Rajesh Power Services relies heavily on infrastructure projects managed by government authorities and agencies. Any failure to qualify for the contracts could be detrimental to the company’s business prospects.
The company is currently involved in certain outstanding legal proceedings. Any adverse judgments in any of these cases can be detrimental to the company’s business prospects.
Any failure to meet the performance standards specified in client work orders could lead to Rajesh Power Services losing business or incurring liquidated damages. Additionally, any delays in the timeline of ongoing projects might result in cost overruns, potentially harming the company's reputation and operations.
As of September 30, 2024, Rajesh Power Services has outstanding debt of Rs 81.03 crore and Rs 79.03 crore, according to the company’s restated consolidated and standalone financial statements. Any inability to repay or service these loans can adversely affect the company’s financial position.
The top five customers of Rajesh Power Services Limited contributed Rs 218.47 crore (69.78%), Rs 192.55 crore (67.57%), Rs 116.37 crore (56.17%), and Rs 95.61 crore (65.13%) to its revenue from operations for the periods ending September 30, 2024, FY24, FY23, and FY22, respectively. Any inability to retain these key clients, expand its customer base, or a fall in business from these customers could adversely impact the company’s financial standing.
A significant portion of Rajesh Power Services Limited’s operations is concentrated in Gujarat. Any adverse changes in the business environment of the state could hurt the company’s financial performance.
Rajesh Power Services Financials
*All values are in Rs. Cr
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Application Details of Rajesh Power Services IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹319 - 335 | ₹2 - 5 Lakh |
| High Networth Individual | ₹319 - 335 | ₹2 - 5 Lakh |
For Rajesh Power Services IPO, eligible investors can apply as Regular.