Established in 2012, Rajesh Power Services Limited (RPSL) is a key player in the power infrastructure sector, specialising in both renewable and non-renewable energy. The company began its journey into solar energy with a 1MW solar power plant in Gujarat, set up under the state’s initial solar policy. This plant, which supplies electricity to PGVCL DISCOM, marked RPSL’s entry into sustainable energy solutions. Since then, RPSL has broadened its expertise, undertaking the building, operation, and maintenance of solar power plants across Western India. Notably, the company played a pivotal role in power supply arrangements for Adani’s 300MW Solar Plant in Rajasthan.
RPSL is currently involved in significant government-led projects, including the Central Government’s Revamped Distribution Sector Scheme (RDSS) and Gujarat’s Robust Network Scheme, both aimed at upgrading power infrastructure. The company’s project portfolio spans the construction of Extra High Voltage (EHV) substations, underground EHV cable installations, and turnkey solutions for transmission and distribution networks. Additionally, RPSL provides operations and maintenance (O&M) services for solar power plants and EHV substations, ensuring reliable and efficient energy systems.
In its efforts to stay at the forefront of energy technology, RPSL holds a 26% stake in HKRP Innovations Limited, enabling it to explore advanced IoT and cloud-based solutions. This includes Smart Feeder Management Systems and Solar Energy Data Management tools, which enhance the efficiency of renewable energy systems and power grids. These initiatives underscore the company’s commitment to innovation and modernization within the energy sector.
RPLSL’s Initial Public Offering (IPO) proceeds from the fresh issue will be used for the following purposes:
- Capital Expenditure:
- Purchase of cable identification, testing, and fault-location equipment.
- Establishment of a 1300KW DC Solar Power Plant.
- Development of in-house expertise in producing Green Hydrogen and related equipment such as Electrolysers.
- General:
- Additional working capital requirements.
- General corporate purposes.
With a strong order book and a dynamic management team, RPSL is poised to expand its footprint in the power sector while contributing to India’s energy transition goals.
You can now apply for the Rajesh Power Services IPO on Upstox. Click here.