Rajesh Power Services Limited has raised Rs 1.6 billion through its initial public offering (IPO).
The IPO consisted of 47.9 million equity shares with a face value of Rs 10 each, including 27.9 million fresh issue shares and 20 million shares under an offer for sale by existing shareholders. Additionally, 244,000 shares were reserved for the market maker to ensure liquidity. The IPO was subscribed 59 times, with 50 per cent allocated to qualified institutional buyers, 15 per cent to non-institutional investors, and 35 per cent to retail individual investors.