Rajesh Power IPO Listing: Rajesh Power Services, which provides consultancy services to private power companies, made a grand entry on BSE’s SME platform. On the very first day, IPO investors saw their money double. The IPO was subscribed 59 times overall.
The price of Rajesh Power’s IPO was Rs 335.00. It debuted on the BSE SME at Rs 636.50, resulting in a 90 per cent listing gain for investors. After listing, it hit the upper circuit and reached Rs 668.30, meaning IPO investors nearly doubled their money.
Rajesh Power IPO Receives Strong Response
Rajesh Power Services’ Rs 160.47 crore IPO was open for subscription from 25-27 November and was subscribed 59 times overall. Under this IPO, new shares worth Rs 93.47 crore were issued, and 20 lakh shares were sold under the Offer for Sale window.
The company plans to use the funds raised from the sale of new shares to purchase cable identification, testing, and fault location equipment. The funds will also be used to set up a DC solar power plant with a capacity of 1300 kW and to advance green hydrogen technology.
About Rajesh Power Services’ Business
Founded in 1971, Rajesh Power Services provides consultancy services to government and private power companies. The company has investments in HKRP Innovations, which offers customized IT solutions to the energy sector. Financially, Rajesh Power Services has shown consistent growth.
In FY 2022, the company reported a net profit of Rs 3.45 crore, which increased to Rs 6.75 crore in FY 2023, and Rs 26.02 crore in FY 2024. In the first half of FY 2024-25 (April-September), the company reported a net profit of Rs 27.68 crore.
What Are the Strengths of Rajesh Power Services?
Rajesh Power Services is steadily growing while maintaining healthy profit margins. The company has completed several projects as an EPC contractor. It is now focusing on renewable energy, solar energy, and hydrogen electrolyzers.
How to apply for Rajesh Power Services IPO online:
- Choose a Brokerage Platform: Select a trading platform or brokerage that allows IPO applications (like Zerodha, Upstox, or Angel One).
- Login to Your Account: Use your credentials to log in to your trading account.
- Check IPO Details: Go to the IPO section and find Rajesh Power Services IPO.
- Fill Application Form: Click on ‘Apply’ and fill in the required details such as the number of shares and the bid price.
- Choose Payment Option: Select the payment method (UPI or ASBA). Enter your UPI ID or bank details for the payment process.
- Confirm the Application: Review the details and confirm your application.
- Receive Application Confirmation: Once the application is successfully submitted, you will receive an application number.
- Check Allotment Status: After the IPO closes, check your allotment status using the application number on the platform.