Rajesh Power Services IPO allotment expected today: Here’s how to check status on BSE, Bigshare Services

Rajesh Power Services IPO share allotment status is expected to be finalised on November 28, after the public offer closed with strong demand.

BSE SME issue was open for subscription from November 25 to November 27. Rajesh Power Services IPO received bids for more than 18.96 crore shares compared to the 32.09 lakh shares on offer. The issue was booked 59.07 times across all investor categories.

The retail portion was booked 31.95 times and the Non-Institutional Investors’ (NIIs) category was booked 102.59 times. Qualified Institutional Buyers (QIBs) subscribed the issue 46.39 times.

After the share allocation, refunds will be initiated for unsuccessful bidders on November 29 and successful bidders will also receive shares of Rajesh Power Services in their demat accounts the same day. Shares of Rajesh Power Services will be listed on the BSE SME platform. The tentative listing date for the SME issue is December 2.

Rajesh Power Services IPO share allotment status can be checked on the BSE website and the registrar Bigshare Services Private Limited.

• Go to the BSE IPO allotment page: https://www.bseindia.com/investors/appli_check.aspx
• Choose the issue type as 'Equity'.
• Choose "Rajesh Power Services Limited" from the dropdown menu.
• Enter the application number or PAN (Permanent Account Number).
• Fill the 'Captcha'
• Click the 'Search' button to view your share allotment status.

• Go to the official website of Bigshare Services using this link: https://ipo.bigshareonline.com/IPO_Status.html.
• Select ‘Rajesh Power Services’ from the dropdown menu for company names.
• Choose any of the following— Application Number, Beneficiary ID or PAN
• Type in the details for your choice and click verify.
• Type in the captcha.
• Click the search button to view your share allotment status.

Rajesh Power Services IPO details

Rajesh Power Services IPO is worth ₹160.47 crore and consists of a fresh issue of 27.9 lakh shares amounting to ₹93.47 crore and an offer-for-sale (OFS) of 20 lakh shares, amounting to ₹67 crore.

Rajesh Power Services IPO price band was fixed at ₹319 to ₹335 per share. The minimum lot size for retail investors was fixed at 400 shares, which aggregated to an investment of ₹1,34,000.

Rajesh Power Services IPO objective

Rajesh Power Services plans to utilise the proceeds of the public issue for buying cable identification, testing and fault location equipment. The proceeds will be used for setting up a DC Solar Power Plant with a capacity of 1300 KW. A portion of the proceeds will also be used for the in-house development of technical expertise to produce green hydrogen and associated equipment. The company will also use some funds for working capital requirements and general corporate purposes.

About Rajesh Power Services

Rajesh Power Services was established in 1971. The company offers EPC contracting services to state-owned and private power transmission and distribution utilities, catering to both renewable and non-renewable segments of the power sector.