Rajesh Power Services Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹335
Per ShareLot Size
400 Shares
Minimum Investment
₹1,34,000
Issue Size
₹160.47 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Rajesh Power Services Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
73.4%
Issue Type
Book Building - SME
ISIN
INE0VN801010
About the Company
RPSL offers services to Renewable Power sector (solar power) and Non-Renewable Power sector. Rajesh Power Services Limited works as an Engineering, Procurement and Construction (EPC) contractor and providing services to power transmission and distribution utilities companies. The Company offers services of implementation of Turnkey projects for laying Extra High Voltage cables & transmission lines, setting up Extra High Voltage (EHV) substation, Design and implication of underground power distribution system. The company is also in providing service of Operations and Maintenance which includes operating and maintaining solar plants and EHV substations. Further, the company is also engaged into 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. RPSL also provides Consultancy Services with regard to designing of power substations and cable system.
Industry Overview
India's transmission segment has undergone a significant transformation over the years, transitioning from a fragmented network to a well-integrated and interconnected grid. The segment has taken significant strides in expanding the physical infrastructure of the grid and consolidating it into one of the largest synchronous grids globally. Looking ahead, as India aims to meet 50 per cent of its generation capacity from non-fossil fuel sources by 2030, and given the rising significance of electricity in the nation's energy mix, substantial investments will be imperative in both the inter-state and intrastate transmission networks. As of February 2024, the total transmission line length (at 220 kV and above levels) stands at 482,032 ckt. km, total alternating current (AC) substation capacity at 1,239 GVA and high-voltage direct current (HVDC) system substation capacity at 33,500 MW. Between 2016-17 and 2022-23, the line length has grown at a CAGR of 4.2 per cent, while AC and HVDC substation capacities have grown at 8 per cent and 9.4 per cent respectively. In absolute terms, about 103,490 ckt. km of lines, 425,587 MVA of AC substation capacity and 14,000 MW of HVDC substation capacity have been added during this period. The interregional transfer capacity has also grown considerably over the years, from approximately 75,050 MW in 2016-17 to 112,250 MW in 2022-23, recording a CAGR of 6.9 per cent. As of February 2024, the interregional transfer capacity in the country stands at 116,540 MW.
Company History
RAJESH POWER SERVICES LIMITED was originally formed as a partnership firm in the name and style of "RAJESH TRADERS" pursuant to a deed of partnership dated May 5, 1971 Registration certificate issued by Registrar of Firms, Ahmedabad having Registered No. GUJ/AHD/32515 under the provisions of the Indian Partnership Act, 1932. Subsequently, its partnership firm was converted to Private limited Company "RAJESH POWER SERVICES PRIVATE LIMITED" on 10th February, 2010 under the provisions of companies act, 1956 with the registrar of companies, Ahmedabad bearing registration no. 059536 then the company was converted from RAJESH POWER SERVICES PRIVATE LIMITED to RAJESH POWER SERVICES LIMITED and fresh certificate of incorporation was issued on June 26, 2024 by the Registrar of Companies, Ahmedabad. The Corporate Identification Number of the Company is U31300GJ2010PLC059536.
Products & Services
- Rajesh Power Services Limited works as an Engineering, Procurement and Construction (EPC) contractor and providing services to power transmission and distribution utilities companies.
Growth Strategy
- Expansion of Business in Renewable Energy sector.
- Leveraging Market Skills and Associations.
- Improving Operational Efficiencies.
- Actively bid for new projects.
- Optimal Utilization of Resources.
- Venture into technology-based solutions in power sector by investing in HKRP Innovations Limited.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets for the last reported financial year.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of upto 47,90,000 equity shares of face value of Rs. 10 each ("Equity Shares") of Rajesh Power Services Limited (the "Company" or "RPSL" or "The Issuer") for cash at a price of Rs. 335 per share (including a share premium of Rs. 325 per equity share) (the "Issue Price"), aggregating to Rs. 160.47 crores ("The Issue"), comprising of fresh issue of upto 27,90,000 equity shares at Rs. 335 per equity shares aggregating to Rs. 93.47 crores and offer for sale of 20,00,000 equity shares by selling shareholders at Rs. 335 per equity shares aggregating to Rs. 67.00 crores. The offer includes a resrvation of upto 2,44,000 equity shares of face value of Rs. 10 each at a price of Rs. 335 per equity share aggregating to Rs. 8.17 crores for subscription by the market maker to the offer (the "Market Maker Reservation Portion"). The issue less market maker reservation portion i.e. issue of upto 45,46,000 equity shares of Rs. 10 each is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute 26.60 % and 25.25 %, respectively of the post issue paid up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Consistent Financial Performance.
- Business execution expertise and Strong Order Book of 2,35,817.40 Lakhs.
- Exploring opportunities to expand business offerings in renewable energy (Solar Energy and Hydrogen Electrolysers).
- The company's revenues largely depends on acceptance of the bids submitted to the Government and other agencies. Its performance could be affected in case majority of the bids are not accepted / awarded.
- The company is engaged in Engineering, Procurement, and Construction (EPC) activity which is working capital intensive.
- Expansion of Solar Business is at initial stage.
- There are outstanding legal proceedings involving The Company which may adversely affect its business, financial condition and results of operations.
- The company may incur penalties or liabilities for non-compliance or delay in compliance with certain provisions of GST Act, Income tax and other applicable laws in the last Three years.