Rajesh Power Services Sees 9.01x Subscription on Day 3 as of 12:09 PM

Rajesh Power Services IPO, one of the upcoming IPOs in India, is a book-built issue valued at ₹160.47 crores. The issue contains a fresh issue of 27.9 lakh shares worth ₹93.47 crore and an offer for sale of 20 lakh shares worth ₹67.00 crore.

The IPO opened for subscription on November 25, 2024, and will close today, November 27, 2024. Allotments are expected to be finalised on November 28, 2024. The shares are expected to be listed on the BSE SME platform on December 2, 2024.

The price band for the IPO is set at ₹319 to ₹335 per share. The minimum lot size for an application is 400 shares. Retail investors are required to invest a minimum amount of ₹1,34,000.

As of November 27, 2024, at 10:26 AM, the Rajesh Power Services IPO GMP stands at ₹75.

The company plans to utilise the net proceeds for various purposes, which include,

• Capital expenditure, i.e., the purchase of cable identification, testing, and fault location equipment, the establishment of a 1,300 KW DC Solar Power Plant, and the in-house development of technical expertise for the production of Green Hydrogen, along with associated equipment such as Electrolysers.
• General corporate purposes.
• Additional working capital requirements.

Rajesh Power Services IPO Subscription Status

• On Day 1, November 25, 2024, the IPO was subscribed 1.90 times. The retail category was subscribed 2.79x, the QIB category was subscribed 0.00x and the NII category was 2.35x.
• On Day 2, November 26, 2024, the IPO was subscribed 5.15 times. The retail category was subscribed 7.01x, the QIB category was subscribed 1.63x and the NII category was subscribed 5.49x.
• On Day 3, November 27, 2024, as of 12:09 PM, the IPO was subscribed 9.01 times. The retail category was subscribed 11.11x, the QIB category was subscribed 1.93x and the NII category was subscribed 13.50x.

About Rajesh Power Services Limited

Rajesh Power Services Limited (RPSL) offers services in both the Renewable and Non-Renewable power sectors. In the Renewable sector, the company provides technical services to set up solar power plants, which includes turnkey projects and maintenance operations. In the Non-Renewable sector, RPSL is engaged in implementing turnkey projects for Extra High Voltage (EHV) cables, substations, and underground power distribution systems. RPSL also offers Operations and Maintenance (O&M) services for solar plants and EHV substations.

Additionally, the company provides utility services like cable fault location, retrofitting switchgear, and transformer replacement, along with consultancy services for power substations and cable systems. RPSL serves both government and private clients in power generation, transmission, and distribution.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.