Rajesh Power Services IPO Subscription Status

Rajesh Power Services' initial public offering (IPO) has received strong investor interest over the three-day period. The IPO witnessed steady growth in demand, with subscription rates growing from 1.90 times on day one, to 5.15 times on day two, and reaching an impressive 7.09 times by 11:09 AM on the final day.

Rajesh Power Services IPO, which opened on 25th November 2024, has seen robust participation across categories. The Non-Institutional Investors segment has shown strong interest reaching 9.49 times subscription, while Retail Investors demonstrated similar enthusiasm at 9.17 times. The QIB portion secured 1.63 times subscription.

This strong response comes amid positive sentiment in the Indian stock market, particularly towards companies in the power services sector.
 

Subscription Status of Rajesh Power Services IPO:

*As of 11:09 AM
Here are the subscription details for Rajesh Power Services IPO as of Day 3 (27th November 2024, 11:09 AM):

Total Applications: 41,882

Key Highlights:

Overall subscription reached impressive 7.09 times on final day
Non-Institutional Investors led with strong 9.49 times subscription, worth ₹219.72 crores
Retail investors showed robust participation with 9.17 times subscription, worth ₹492.99 crores
QIB portion maintained at 1.63 times subscription, worth ₹50.02 crores
Total bids received for 2,27,68,000 shares worth ₹762.73 crores
Applications reached 41,882, including 36,800 retail investors
The subscription trend indicates strong investor confidence across categories
NII and retail segments showed particularly strong demand
Final day momentum demonstrated robust overall market interest

Rajesh Power Services IPO - Day 2 Subscription at 5.15 Times

Key Highlights:

• Overall subscription improved significantly to 5.15 times
• Retail investors showed strong interest with 7.01 times subscription
• Non-Institutional Investors demonstrated good momentum at 5.49 times
• QIB portion achieved full subscription at 1.63 times
• Application count showed substantial increase from day one
• Day two witnessed balanced participation across categories
• Significant improvement in subscription across all segments
• Strong momentum building in retail and NII categories
• The subscription trend indicated growing investor confidence

Rajesh Power Services IPO - Day 1 Subscription at 1.90 Times

Key Highlights:

• Overall subscription opened strong at 1.90 times
• Retail investors led with robust 2.79 times subscription
• Non-Institutional Investors showed good interest at 2.35 times
• QIB portion yet to see participation
• Opening day witnessed strong retail participation
• NII segment demonstrated healthy initial interest
• Day one momentum indicated positive market sentiment
• Strong initial response from retail investors
• The subscription trend suggested promising investor appetite

About Rajesh Power Services Limited

Established in 1971, Rajesh Power Services Limited has evolved into a comprehensive power sector solutions provider, offering consultancy services to state transmission and distribution companies, as well as private utilities and industries. The company has strategically expanded its capabilities through investment in HKRP Innovations Limited, which specializes in IoT and cloud-based solutions for power grids and renewable energy, offering innovative products like Smart Feeder Management System and Virtual Feeder Segregation.

With a workforce of 940 employees as of April 2024, the company provides a wide range of services across both renewable and non-renewable power sectors, including EHV underground cables, transmission lines, substations, and power supply arrangements for solar plants. Their client portfolio includes prestigious names like GIFT City, Gujarat Metro Rail Corporation, IFFCO, Adani Renewables, and Reliance Industries Limited. 

Their competitive strengths lie in their consistent financial growth with healthy profit margins, successful track record of over 20 years in power sector projects, and strategic focus on expanding into renewable energy, particularly solar energy and hydrogen electrolysers. 

Highlights of the Rajesh Power Services IPO

• IPO type: Book Built Issue
• IPO size: ₹160.47 crores
• Fresh Issue: ₹93.47 crores (27.9 lakh shares)
• Offer for Sale: ₹67.00 crores (20 lakh shares)
• Face value: ₹10 per share
• Price band: ₹319 to ₹335 per share
• Lot size: 400 shares
• Minimum investment for retail investors: ₹134,000
• Minimum investment for HNI: ₹268,000 (2 lots)
• Listing at: BSE SME
• IPO opens: November 25, 2024
• IPO closes: November 27, 2024
• Allotment date: November 28, 2024
• Refund initiation: November 29, 2024
• Credit of shares: November 29, 2024
• Listing date: December 2, 2024
• Lead Manager: Isk Advisors Pvt Ltd
• Registrar: Bigshare Services Pvt Ltd
• Market Maker: Sunflower Broking