Rays Power Infra Ltd. IPO Details
Rays Power Infra was incorporated on June 13, 2011. The company is a player in turnkey solar engineering, procurement, and construction (EPC) services.
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 0 | - | - | ₹11,500.0 M | DRHP DOC |
Rays Power Infra issue details
Rays Power Infra IPO issue size is ₹ 11,500.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Rays Power Infra IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Rays Power Infra NUMBER OF SHARES ON OFFER
Rays Power Infra FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 1,220.6 | 139.4 | -69.6 | -95.7 | 15.9% |
| FY24 | 1,048.8 | 91.4 | -22.9 | -114.8 | 11.5% |
| FY23 | 776.6 | 129.0 | -70.2 | -88.8 | 9.0% |
Rays Power Infra INFORMATION ON IPO ISSUE
About Rays Power Infra
Rays Power Infra was incorporated on June 13, 2011. The company is a player in turnkey solar engineering, procurement, and construction (EPC) services.
Object of the Issue
- Funding incremental working capital requirement of the company.
- General corporate purposes.
Rays Power Infra - PROMOTERS
| Name |
|---|
| Ketan Mehta |
| Pawan Kumar Sharma |
| Sanjay Garudapally |
Rays Power Infra - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Ketan Mehta | Chairperson & Managing Director |
| Pawan Kumar Sharma | Whole-time Director |
| Sanjay Garudapally | Whole-time Director |
| Rashmi Bafna | Independent Director |
| Mahendra Kumar Singh | Independent Director |
| Akhilesh Kumar Jain | Independent Director |
Rays Power Infra Book running lead manager
Anand Rathi Advisors Limited
rpil.ipo@rathi.com
Unistone Capital Private Limited
mb@unistonecapital.com
Rays Power Infra Registrar to the offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Rays Power Infra Strengths
Established EPC player
The company is an established solar power EPC company with a presence across the solar value chain. Its primary focus is on the Indian solar EPC market; however, it has also selectively evaluated opportunities outside India and has forayed into international markets like Bangladesh and Vietnam
Strong execution
The company has a strong track record in executing solar EPC projects, supported by a team of experienced professionals, since its inception in 2011
Disciplined project selection
The company's ability to select and execute projects in a disciplined manner has aided its growth, while supporting its aim of meeting the targeted returns from projects
Rays Power Infra Risks
Pending litigations
There are pending litigations against the company, promoters, and subsidiaries. Any adverse decision in such proceedings may adversely affect its business, results of operations, and financial condition
Negative cash flows
The company has incurred indebtedness of Rs 187.1 crore as of October 31, 2023, and may avail of debt facilities in the future to run the business. The covenants under its debt financing arrangements could adversely affect the business
Indebtedness
The company has incurred indebtedness of Rs 187.1 crore as of October 31, 2023, and may avail of debt facilities in the future to run the business. Covenants under its debt financing arrangements could adversely affect the business
IPO FAQs
The promoters of the company are Ketan Mehta, Pawan Kumar Sharma and Sanjay Garudapally.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.