Rajesh Power Services IPO Overview

Company Profile: Rajesh Power Services Limited (RPSL) specializes in Engineering, Procurement, and Construction (EPC) services within both renewable and non-renewable power sectors. It offers turnkey solutions for the installation of Extra High Voltage (EHV) cables, transmission lines, substations, and more. Additionally, the company provides operations and maintenance services for solar plants and EHV substations.

IPO Details: The Rajesh Power Services IPO, a book-built issue, is valued at ₹160.47 crores, consisting of a fresh issue of 27.90 lakh shares (worth ₹93.47 crore) and an offer for sale (OFS) of 20 lakh shares (₹67 crore). The IPO opens on November 25, 2024, and closes on November 27, 2024, with an expected listing date of December 2, 2024. The share price band is set between ₹319 to ₹335 per share.

• Market Capitalization at Upper Band: ₹603.25 crores
• Lot Size: 400 shares, with a minimum investment of ₹1,34,000 for retail investors.
• Lead Manager: ISK Advisors Private Limited
• Registrar: Bigshare Services Private Limited
• Market Maker: Sunflower Broking

Grey Market Premium (GMP): The IPO is trading at a premium of ₹65 (20%) on the Grey Market, suggesting potential listing gains. However, GMP is based on informal trading and should be considered for educational purposes only.

Financial Highlights:

• Revenue: ₹31,785.09 lakhs for the quarter ended September 30, 2024.
• Profit After Tax: ₹2,768.25 lakhs for the same period.
• Pre-Issue EPS: ₹17.01; Post-Issue EPS: ₹15.56
• P/E Ratio: 19.59x (pre-issue), 21.53x (post-issue)

Recommendation: Given the fully priced IPO and its financial performance, investors are advised to avoid the Rajesh Power Services IPO for both listing gains and long-term investment.

Rajputana Biodiesel IPO Overview

Company Profile: Rajputana Biodiesel specializes in manufacturing and supplying biofuels such as biodiesel, along with by-products like glycerine and fatty acids. Operating from a 4,000 sq.m. facility in Phulera, Rajasthan, it has an approved production capacity of 30 KLPD (Kiloliters per Day) and an installed capacity of 24 KLPD.

IPO Details: The Rajputana Biodiesel IPO is a fresh issue amounting to ₹24.70 crores, consisting of 19 lakh shares. The subscription period for the IPO runs from November 26, 2024, to November 28, 2024, with a tentative listing date of December 3, 2024. The share price band is set between ₹123 to ₹130 per share.

• Market Capitalization at Upper Band: ₹91.44 crores
• Lot Size: 1000 shares, with a minimum investment of ₹1,30,000 for retail investors.
• Lead Manager: GYR Capital Advisors Private Limited
• Registrar: Maashitla Securities Private Limited
• Market Maker: Giriraj Stock Broking

Grey Market Premium (GMP): Rajputana Biodiesel IPO is expected to trade at a GMP of ₹30 (23%), indicating strong demand. As with Rajesh Power Services, GMP is unofficial and should be treated as educational.

Financial Highlights:

• Revenue: ₹2,779.18 lakhs for the quarter ended July 31, 2024.
• Profit After Tax: ₹259.59 lakhs for the same period.
• Pre-Issue EPS: ₹9.16; Post-Issue EPS: ₹6.43
• P/E Ratio: 14.19x (pre-issue), 20.21x (post-issue)

Recommendation: The IPO is fairly priced and has shown steady financial growth. Risky investors might consider applying for listing gains, while safer investors should avoid due to the uncertain long-term potential.