Rajesh Power IPO Listing Price: Rajesh Power has been listed. Its listing has been quite explosive. On BSE SME, the company's share has been listed at Rs 636.50, a premium of Rs 301.50 or 90 percent against the IPO price of Rs 335. Not only this, the share also hit a 5 ppercentupper circuit after listing. Along with this, the share has reached Rs 668.30, an increase of Rs 333.30 or 99.49 pepercentgainst the IPO price. This means that thefor  investors who got shares in the IPO and kept them to themselves, their money has almost doubled.

How was the IPO

Rajesh Power's IPO was quite impressive. Its IPO was subscribed 59 times. The NII segment in the IPO was oversubscribed 138.46 times, while the QIB portion was oversubscribed 46.39 times. According to exchange data, the retail portion has also been booked 31.96 times.

The price band of the shares in the IPO was fixed at ₹ 319 and ₹ 335 per share, while the final price was Rs 335. The lot size was 400 shares.

What will the company do with the funds raised from the IPO?

The Company intends to use the funds raised from the IPO for several key purposes, including capital expenditure for the procurement of cable identification, testing, and fault location equipment.

Apart from this, the company also said that it will use the funds to set up a 1300 kW DC solar power plant and related equipment such aselectrolyzerr as well as to support in-house development of technical expertise for the production of green hydrogen.