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Rajesh Power Services IPO
Price Band
₹319.0–335.0
Issue Size
₹160.47 Cr
Lot Size
400 shares
Min Investment
₹134,000
GMP
+₹157.0 (46.87%)
Issue Price
₹335.0
Subject to Sauda
₹47700
Paid only if allotted
Rajesh Power Services IPO AI Summary
- Rajesh Power Services IPO is listed on BSE SME in the Multi Utilities sector.
- Price band: ₹319.0–₹335.0 per share, lot size 400 shares (min. investment ₹134,000).
- Subscription window: 25 Nov–27 Nov 2024, listing on 02 Dec 2024.
- Current GMP is +₹157.0 (46.87%), an estimated listing price of ₹492 — unofficial and can change daily.
Rajesh Power Services Limited is set to launch its IPO with a price band of ₹319.0 to ₹335.0, aiming to raise ₹160.47 Cr. The company has shown strong revenue and profit growth, with plans to invest in new technology and expand its renewable energy services.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Rajesh Power Services IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 27 Nov 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Rajesh Power Services IPO Grey Market Premium (GMP) Today
GMP
+₹157.0
GMP %
+46.87%
Est. Listing
₹492.0
Updated: 25 Jul 2026 14:03
About the Company
Established in 1971, Rajesh Power Services Limited provides consultancy to state transmission and distribution companies and private utilities and industries. Rajesh Power Services Limited has invested in HKRP Innovations Limited (HKRP), which offers customized IT solutions for the energy sector. HKRP specializes in IoT and cloud-based solutions for power grids and renewable energy, providing tools like the Smart Feeder Management System (SFMS), Virtual Feeder Segregation (VFS), Real-Time Monitoring System for Oil Wells (RTMS), and Solar Energy Data Management (SEDM). The company offers services to both the Renewable and Non-Renewable segments of the power sector. The company provides the following services EHV Underground Cables and Transmission Lines EHV AIS/GIS Substations including Civil Works HV/MV/LV Underground Cable Laying and Overhead MVCC Conductor Installation Revamping the entire Distribution Network including Substations, RMUs, Transformers & Cables on Turnkey Basis Power Supply Arrangement Projects for Solar Power Plants Operation and Maintenance of EHV, HV, MV & LV Substations Operation and Maintenance of EHV, HV, MV & LV Transmission and Distribution Network The company clients include GIFT City, Gandhinagar; Gujarat Metro Rail Corporation Ltd., Gandhinagar; , IFFCO, Adani Renewables, Prestige, Reliance Industries Limited, Torrent Power Ltd., Dholera; Jay Chemicals Ltd., Saykha; Sabar Dairy, Himmatnagar; Grindwell Norton Limited (Saint Gobain), Hindustan Coca Cola and so on and so forth. Rajesh Power Services Ltd. (RPSL) specializes in EPC contracting and providing services to power transmission and distribution utilities. Cometitive Strength Constant Financial Growth maintaining healthy profit margins. Successfully completed numerous power sector projects as an EPC contractor for over 20 years. Looking for ways to expand our business in renewable energy, focusing on solar energy and hydrogen electrolyzers. As of April 1, 2024, the Company employs 940 people in various departments.
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 338.22 | 240.39 | 198.23 | 175.63 |
| Total Income | 317.85 | 295.06 | 211.18 | 149.37 |
| Profit After Tax | 27.68 | 26.02 | 6.75 | 3.45 |
| NET Worth | 111.22 | 84.30 | 58.66 | 52.29 |
| Reserves and Surplus | 96.00 | 69.08 | 43.44 | 37.07 |
| Total Borrowing | 79.73 | 77.67 | 59.71 | 62.43 |
Key Ratios
EPS
₹17.10
NAV
₹73.66
ROE
24.89%
ROCE
25.61%
RoNW
25.47%
P/B Value
4.55
P/E Ratio
19.59
Market Cap
₹603.25 Cr
PAT Margin
8.11%
Debt/Equity
0.92
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Viviana Power Tech Limited | 41.02 | 26.73% | 74.08 | 10.96 |
| Kay Cee Energy & Infra Limited | 40.72 | 14.67% | 42.49 | 7.61 |
| Advait Infratech Ltd | 73 | 28.65% | 88.68 | 21.45 |
| Rajesh Power Services Limited This IPO | 55.4 | 30.87% | — | 17.1 |
Promoters
Utsav Nehal Panchal, Rajendra Baldevbhai Patel, Kurang Ramchandra Panchal and Kaxil Prafulbhai Patel
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Purchase of cable identification, testing and fault location equipments 17.95 2 Setting up of DC Solar Power Plant having capacity of 1300 KW 4.16 3 Inhouse development of Technical Expertise in Production of Green Hydrogen and associated equipment such as Electrolysers 3.00 4 Additional Working Capital Requirement 30.00 5 General Corporate Purpose 22.86
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹211.18 Cr in the year ending 31 Mar 2023, rising to ₹295.06 Cr by 31 Mar 2024, and further increasing to ₹317.85 Cr as of 30 Sep 2024. This shows a consistent upward trend in revenue over the periods.
Profit Trend
Profit after tax was ₹3.45 Cr in the year ending 31 Mar 2022, increasing to ₹6.75 Cr by 31 Mar 2023, and further rising to ₹26.02 Cr in the year ending 31 Mar 2024. As of 30 Sep 2024, profit after tax reached ₹27.68 Cr. This indicates significant growth in profitability across the reported periods.
Valuation
At the issue price of ₹335.0, Rajesh Power Services Limited has an implied P/E ratio of 19.59, compared to peers trading at P/E ratios ranging from 42.49 to 88.68.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the demand for the shares in the grey market, which can provide insights into potential listing gains. A higher GMP suggests strong demand and potential for gains on listing day.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk appetite. It's important to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies with less volatility may want to avoid investing in IPOs, as they can be subject to significant price fluctuations.
IPO Timeline, Explained
The IPO will open for subscription from 25 November 2024 and close on 27 November 2024. Allotment of shares will be finalized by 28 November 2024, with the listing expected on 2 December 2024.
Listing Gains — The Risk
While many investors hope for listing gains, there are risks involved. Market conditions can change rapidly, and the actual listing price may differ from expectations based on GMP. Investors should be prepared for the possibility of losses as well.
This evaluation is generated from Rajesh Power Services's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Rajesh Power Services IPO GMP today?
Rajesh Power Services IPO GMP today is +₹157.0 (46.87%), indicating an estimated listing price of ₹492. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Rajesh Power Services IPO?
The price band of Rajesh Power Services IPO is ₹319.0–₹335.0 per share.
When does Rajesh Power Services IPO open and close?
Rajesh Power Services IPO opens on 25 November 2024 and closes on 27 November 2024.
When does Rajesh Power Services IPO list on the stock exchange?
Rajesh Power Services IPO listed on 02 December 2024 at ₹492.0.
What is the lot size for Rajesh Power Services IPO?
The lot size for Rajesh Power Services IPO is 400 shares, requiring a minimum investment of ₹134,000.
What is the price band for the IPO?
The price band for the IPO is ₹319.0 to ₹335.0.
What is the minimum investment required?
The minimum investment required is ₹134,000, which corresponds to a lot size of 400 shares.
When is the IPO opening and closing?
The IPO opens on 25 November 2024 and closes on 27 November 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
When will the shares be listed?
The shares are expected to be listed on 2 December 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Nov 2024
Close
27 Nov 2024
Allotment
28 Nov 2024
Listing
02 Dec 2024
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