Rajesh Power Services shares list at 90% premium over IPO price. Check GMP, other details

The shares of Rajesh Power Services debuted with a 90% premium over the issue price of Rs 335 on Monday. The shares listed at Rs 636.5 on the BSE SME platform.

The company's shares were trading with a GMP of Rs 144 in the grey market.

However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.


The IPO of Rajesh Power Services received a healthy response from investors with an overall subscription of 59 times at close.

Net proceeds from the public offer will be used for funding capital expenditure towards purchase of cable identification, testing and fault location equipment, setting up of DC solar power plant having capacity of 1,300 kw, inhouse development of technical expertise in production of green hydrogen and associated equipment, working capital requirements and general corporate purposes.

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Rajesh Power offers services to the renewable power sector (solar power) and non-renewable power sector, working as an engineering, procurement, and construction (EPC) contractor.

The company provides services to power transmission and distribution utilities companies, which mainly include implementation of turnkey projects for laying extra high voltage cables and transmission lines, setting up extra high voltage (EHV) substation, design and implication of underground power distribution system.

The company is also in providing service of operations and maintenance which includes operating and maintaining solar plants and EHV substations. Further, it is also engaged into providing utility services to power plants and power transmission companies, which include cable fault location and rectification, replacement and retrofitting of transformers and switch gears.

RPSL also offers consultancy sServices with regard to designing of power substations and cable systems. The company's main clients include major electricity supply companies in Gujarat.

India’s transmission segment has undergone a significant transformation over the years, transitioning from a fragmented network to a well-integrated and interconnected grid. The segment has taken significant strides in expanding the physical infrastructure of the grid and consolidating it into one of the largest synchronous grids globally.

Isk Advisors acted as the book-running lead managers to the issue, while Bigshare Services was the registrar.