Suspense Crime Sach Ka Dam
Amidst the cold start of IPOs of many companies, the IPO of Rajesh Power Services made a big bang on Monday. Shares of Rajesh Power Services were listed on the BSE SME platform with a 90 percent premium. The bidding for this IPO closed on November 27. By the last day, the IPO was subscribed 59 times. According to the news of Moneycontrol, the shares of Rajesh Power Services were listed on NSE at Rs 636.50 per share, which was a 90 percent premium to the issue price of Rs 335.
According to the news, Rajesh Power Services provides turnkey projects, operation and maintenance,e and consultancy services for power utility companies (both renewable and non-renewable segments). The company’s order book was recorded at Rs 2,358.2 crore till March 2024, to be executed in three financial years. The company’s shares were trading with a grey market premium of 47 percent ahead of listing today. Established in 1971, Rajesh Power is one of the fastest-growing engineering and contracting companies in the country.
The lot size was 400 shares.
The IPO, priced between Rs 319 and Rs 335, had a lot size of 400 shares. The book-built issue of Rs 160.47 crore comprised a fresh issue of 2,790,000 shares and an offer for sale (OFS) of 2,000,000 shares with a face value of Rs 10 each.
HKRP also invests in innovation
According to the news, Rajesh Power Services has also invested in HKRP Innovation, which provides IT solutions for the energy sector. HKRP is an expert in IoT and cloud-based solutions for power grids and renewable energy, providing products such as smart feeder management systems, virtual feeder segregation, real-time monitoring systems for oil wells, and solar energy data management.
