Rajesh Power Services shares to list today. GMP hints at healthy gains
Rajesh Power Services will debut on the BSE SME platform on Monday. Ahead of the listing, the company's shares were trading with a GMP of Rs 144 in the grey market.
Considering the upper price band of Rs 335, the stock is expected to list with a premium of 40% or above going by the grey market trends.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO of Rajesh Power Services received a healthy response from investors with an overall subscription of 59 times at close.
Net proceeds from the public offer will be used for funding capital expenditure towards purchase of cable identification, testing and fault location equipment, setting up of DC solar power plant having capacity of 1,300 kw, inhouse development of technical expertise in production of green hydrogen and associated equipment, working capital requirements and general corporate purposes.
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