Rajesh Power Services Limited, a long-established player in the energy sector, is launching its SME IPO on November 25, 2024, aiming to raise ₹67 crores. Here are the key details about the IPO and the company:
The public issue is set to open on Monday, November 25 and close on Wednesday, November 27. The shares are expected to be listed on the BSE SME index on Monday, December 2.
IPO Details
- Price Band: ₹319 to ₹335 per share
- Lot Size: 400 shares per lot
- IPO Size: ₹67 crores
- Listing on: SME Exchange
- Purpose: Likely to support growth initiatives, renewable energy ventures, and working capital requirements.
Company Overview
Founded in 1947, Rajesh Power Services Limited has established expertise in building, operating, and maintaining solar power plants, predominantly in western India. The company’s offerings include:
- Solar Power Solutions: Developing and managing solar power plants.
- Turnkey Projects: End-to-end services in design, consultancy, procurement, execution, testing, and commissioning.
- Innovation and IT Integration: Investment in HKRP Innovations Limited, providing customized IT solutions for the energy sector.
Financial Highlights (as of September 30, 2024)
- Revenue: ₹31,785.09 lakhs
- Profit After Tax (PAT): ₹2,768.25 lakhs
Promoters
- Mr. Kurang Ramchandra Panchal
- Mr. Rajendra Baldevbhai Patel
Both promoters bring extensive experience in renewable energy and have ambitious plans for the company’s growth in the renewable energy sector.
Growth Outlook
The company aims to leverage its experience in solar energy and explore additional opportunities in the renewable energy domain. Its IPO plans extend further, with another proposed offering worth ₹160.47 crores, suggesting a strong focus on expansion.
Investors interested in renewable energy and SME opportunities may find this IPO appealing, given the company’s robust history, current profitability, and expansion potential.