look news india
New Delhi: ( Rajesh Power IPO Listing Rajesh Power Services IPO, a company providing consultancy services to private power companies, has made a successful entry on the SME platform of BSE. IPO investors’ money doubled on the very first day. The IPO was subscribed a total of 59 times.
The IPO price of Rajesh Power was Rs 335.00. It was recorded at Rs 636.50 on BSE SME. This means that IPO investors have got 90 percent listing gain (Rajesh Power Listing Gain). After listing, it hit upper circuit and reached Rs 668.30. This means that the money of IPO investors has almost doubled.
Strong response to Rajesh Power’s IPO
Rajesh Power Services’ Rs 160.47 crore IPO was open for subscription from November 25-27. It was subscribed a total of 59.00 times. New shares worth Rs 93.47 crore were issued under this IPO. Along with this, 20 lakh shares have been sold under the offer for sale window.
The company will use the proceeds from the sale of the new shares to purchase cable identification, testing and fault location equipment. Along with this, DC solar power plant of 1300 kilowatt capacity will also be installed. The company will also use this amount to master green hydrogen technology.
What is the business of Rajesh Power Services?
Rajesh Power Services was established in 1971. It provides consultancy services to government and private power companies. Rajesh Power has an investment in HKRP Innovation. It provides customized IT solutions for the energy sector. If we look at the financial aspect, Rajesh Power’s health has continuously strengthened.
Its net profit in FY2022 was Rs 3.45 crore. In the next financial year 2023, it increased to Rs 6.75 crore and in financial year 2024 it increased to Rs 26.02 crore. Talking about the current financial year 2024-25, it has earned a net profit of Rs 27.68 crore in the first half of April-September 2024.
Strengths of Rajesh Power Services
This power company has been growing steadily while maintaining good profitability.
It has successfully completed many projects as an EPC contractor.
The company is now focusing on renewable energy, solar power and hydrogen electrolyzer.