IPO Watch: Rays Power Infra raises ₹54 crore via pre-IPO placement

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₹54 crores in order to raise funds and increase investor trust. As part of this process, the company intends to refile its Draft Red Herring Prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI).

Rays Power Infra's Managing Director, Ketan Mehta, stated that the company intends to refile its DRHP for a larger fund at a much better valuation, given the recent flood of substantial fresh deals and predicted growth trajectory. To maintain its current development trajectory, the company will keep exploring opportunities for strategic alliances and capital raising.

Also Read: Vishwas Agri Seeds share price makes a muted debut, stock opens with 1.2% discount at ₹85 apiece on NSE SME “We are excited to announce this Pre-IPO Investment and this milestone reflects our unwavering commitment to transparency, governance, and shareholder value. We are grateful for the support of our pre-IPO investors and look forward to continuing our journey of growth and innovation," added Ketan Mehta.