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Rajesh Power Services files DRHP with BSE SME to raise funds via IPO

25 Oct 2024 Evaluate

Rajesh Power Services (RPSL) has filed draft red herring prospectus (DRHP) with BSE SME to raise funds through an initial public offering (IPO). The IPO is a combination of a fresh issuance of 27.9 lakh equity shares and an Offer-for-Sale (OFS) of up to 20 lakh equity shares.

Of the total IPO proceeds, the company intends to utilise Rs 25.10 crore for capital expenditures, such as purchasing cable identification and testing; Rs 17.94 crore for fault location equipment; Rs 4.16 crore for setting up a DC Solar power plant with a capacity of 1300 KW and; Rs 3 crore for developing technical expertise in the production of Green Hydrogen and associated equipment. Also, the company plans to use Rs 30 crore for additional working capital requirements, and the remaining capital will be utilised for general corporate purposes. ISK Advisors is the sole book-running lead manager to the issue.

The company has been in the business of EPC (Engineering, Procurement & Construction) contracting and providing turnkey services to power transmission and distribution utilities/ PSUs / Private entities.


Rajesh Power Service Share Price

1132.85 76.70 (7.26%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Redington 234.90
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Amrapali Industries 17.53
Rashi Peripheral 455.25
PDS 301.45
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