Thu Oct 24 12:17:27 UTC 2024: **Summary of Rajesh Power Services Limited (RPSL) IPO Announcement:**

1. **IPO Details**: RPSL has filed a Draft Red Herring Prospectus (DRHP) for an Initial Public Offering (IPO) on the BSE SME. The IPO includes a fresh issue of 2,790,000 equity shares at a face value of Rs. 10 each and an offer for sale of up to 2,000,000 equity shares.

2. **Use of Proceeds**: The company plans to utilize approximately Rs. 25.10 crore from the IPO for various capital expenditures, including:
– Rs. 17.94 crore for cable identification, testing, and fault location equipment.
– Rs. 4.16 crore to establish a 1300 KW DC solar power plant.
– Rs. 3 crore to develop in-house expertise and equipment for Green Hydrogen production.
Additionally, Rs. 30 crore will address working capital needs, with remaining funds for general corporate purposes.

3. **Company Overview**: RPSL operates in EPC contracting and provides turnkey services to power utilities and private entities. They offer a range of services including underground cable networks and maintenance activities. The company has secured an order book worth Rs. 2,358.17 crore.

4. **Performance**: RPSL reported revenues of Rs. 284.96 crore and a profit after tax (PAT) of Rs. 26.02 crore for FY 2024, compared to Rs. 207.17 crore in FY 2023 and a profit of Rs. 6.75 crore.

5. **Management and Innovation**: Under the leadership of Kurang Panchal and Rajendra Baldevbhai Patel, RPSL has ventured into solar power generation and invested in HKRP Innovations Limited, which provides IT solutions to the energy sector. The company also implemented a 1 MW solar plant in Gujarat.

6. **Management and Advisors**: ISK Advisors Private Limited is the Book Running Lead Manager for the IPO, and Bigshare Services Private Limited serves as the Registrar.

The article highlights RPSL’s strategic initiatives for growth and its ongoing commitment to enhancing services in the power sector through technology and innovation.

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