Rajesh Power Services shares listed on the BSE SME platform with a premium of 90 percent on December 2. The SME issue was subscribed 59 times at close on November 27.
The shares of Rajesh Power Services were listed at Rs 636.50 per share on the NSE, a premium of 90 percent against the issue price of Rs 335.
Ahead of the listing, the shares of the company traded with a grey market premium of nearly 47 percent to the issue price.
Gujarat-based Rajesh Power Services maiden share sale of Rs 160-crore had a price band of Rs 319-335 per share.
Rajesh Power Services offers execution of turnkey projects, operation & maintenance, and consultancy services for power utility companies (both renewable and non-renewable segments). It has an order book of Rs 2,358.2 crore as of March 2024 which is to be executed over the three financial years.
Rajesh Power Services that competes with listed peers like Advait Infratech, Kay cee Energy and Infra, and Viviana Power Tech recorded standalone net profit at Rs 26.02 crore for the year ended March 2024, increasing sharply from Rs 6.75 crore in the previous fiscal 2023. Revenue during the same period jumped significantly to Rs 285 crore, up from Rs 207.2 crore.
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