Gurugram-based renewable energy solutions provider Rays Power Infra has once again submitted draft papers with SEBI for an Initial Public Offering (IPO), targeting to raise ₹1,150 crore.
IPO Structure
- Fresh Issue: ₹900 crore worth of equity shares
- Offer-for-Sale (OFS): ₹250 crore by existing shareholders including promoters
Previous IPO Plan
The company had earlier filed its DRHP in January 2024, planning a ₹300 crore fresh issue along with an OFS of 29.95 lakh shares. However, those plans were withdrawn on March 13, 2024.
Pre-IPO Placement
Before launching the ₹1,150 crore IPO, Rays Power Infra may also consider raising up to ₹180 crore through a pre-IPO placement, which will form part of the fresh issue component.
Why It Matters
Rays Power Infra, being a notable player in the renewable energy sector, is expected to attract strong investor interest with this expanded fundraising plan. The company’s focus on renewable energy solutions aligns with India’s push for sustainable infrastructure, making this IPO a key market event to watch.