Rays Power Infra Limited IPO Details

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Rays Power Infra IPO DRHP (Draft Red Herring Prospectus) has been Filed With SEBI.

The Lead Managers for Rays Power Infra IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Anand Rathi Advisors Limited, Pantomath Capital Advisors Pvt Ltd. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.

For detailed information, Refer to the Rays Power Infra Limited DRHP.

Rays Power Infra IPO Details

Open Date
-
Close Date
-
Listing Date
-
Issue Price
₹0 - ₹0
Face Value
₹2 per share
Lot Size
0
GMP
₹0
Issue Type
IPO
Listing On
NSE, BSE
Type
Book Built Issue
Share holding pre issue
285788851
Share holding post issue
-
Total Issue Size
-
Fresh Issue
-
Offer for Sale
-
DRHP Status
Filed With SEBI

Rays Power Infra IPO Lot Size

ApplicationLotsSharesAmount
To be announced

Rays Power Infra IPO Reservation

Promoter Holding

Pre Issue:89.74%
Post Issue:-
Promoter Names:
Ketan Mehta, Pawan Kumar Sharma, Sanjay Garudapally, Sweta Mehta, Richa Sharma, Shruthi Gupta Garudapally, Mehta Family Trustee Private Limited, Mehta Family Trust, Sharma Family Trust, Garudapally Family Trust

Documents

Rays Power Infra IPO Valuations

ROE:28.89%
ROCE:29.80%
DEBT/EQUITY:0.04
RONW:28.89%

Rays Power Infra Financial Information

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets1,432.71750.66652.54
Total Income1,238.131,072.51890.51
Profit After Tax139.3591.39128.99
NET Worth615.79348.79188.87
Reserves and Surplus558.85294.57175.76
Total Borrowing270.45139.32110.30
Amount in ₹ Crore

About Rays Power Infra IPO

Incorporated in 2011, Rays Power Infra Ltd. is engaged in providing utility-scale end-to-end renewable energy solutions with a primary focus on solar energy.

The company has executed and commissioned 50 renewable power projects with an aggregate installed capacity of 1,771.18 MWp as of July 31, 2025. It operates through two business models – Co-Development, involving land aggregation, grid connectivity, approvals, and transfer of special purpose vehicles (SPVs) to developers; and EPC, offering complete solutions including design, procurement, construction, testing, and commissioning of renewable energy projects.

As of July 31, 2025, the company had a robust order book of ₹80,342.61 million covering 30 contracted projects under execution. Its clientele includes private sector developers such as Serentica Renewables India, Radiance KA Sunshine Seven, and Ampin Energy Transition, as well as public sector undertakings like SJVN Green Energy and Indore Municipal Corporation.

Rays Power Infra has executed or is executing projects across 13 states and 1 union territory in India, including Madhya Pradesh, Maharashtra, Karnataka, Telangana, Gujarat, Rajasthan, Punjab, and Jammu & Kashmir.

As of July 31, 2025, the company employed 392 full-time employees.

Strength Of Rays Power Infra IPO

To be announced

Risk Of Rays Power Infra IPO

To be announced

Objectives Rays Power Infra IPO

1. Investment in our Wholly Owned Subsidiary, Rays Green Energy Manufacturing Private Limited (“Rays Green Energy”) for part-financing the establishment of a 1.5 GW PV Solar n-type TOPCon G12R cell manufacturing plant at Manufacturing Zone for Power and Energy Equipment, Plot no. P-23, Mohasa- Babai Industrial Area, Narmadapuram, Madhya Pradesh, India (“Project”);

2. Part funding of the incremental working capital requirements of the Company; and

3. General corporate purposes

Company Contact Details

Rays Power Infra Ltd.
1 st - 21 Evershine Mall,
North Meter Cabin 1,
Malad (West)
Mumbai, Maharashtra, 400064
Phone: +0141 403 8767
Email: cs@rayspowerinfra.com
Website: https://rayspowerinfra.com/

Registrar Contact Details

Name: Bigshare Services Pvt Ltd
Phone: +91-22-62638200

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