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Rays Power Infra IPO is a Book Building IPO listing on BSE,NSE exchange, with an ipo size of ₹ [●] Cr. The company is based in Mumbai and caters to Power And Energy sector. Pantomath Capital Advisors , Anand Rathi Securities are the merchant bankers of Rays Power Infra IPO. It is a MainBoard Upcoming IPO which filed its Draft Red Herring Prospectus (DRHP) on 29th September 2025. Rays Power Infra IPO open date is [●] and close date is [●]. IPO Allotment Date is [●] and Listing date is [●].
IPO
Size:
₹ Cr.
Avg IPO Size (Sector Based)
: ₹
3,279.05 cr.
Sector: Power And Energy
IPO so far:
20
Merchant Banker:
Pantomath Capital
IPO by BRLM so far:
14
City:
Mumbai
IPO so far:
207
Revenue (annualised):
₹
1220.64
cr. 
PE
Ratio:
x
Average Sector PE Ratio: 19.22x
Rays Power Infra IPO size is ₹ [●] with IPO price of ₹ [●]. IPO subscription will start on IPO open date and end on IPO close date as per above. IPO valuation metrics can be seen here.
| Particulars | Amount |
|---|---|
| Investment in the 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”) | 50.00 |
| Part funding of the incremental working capital requirements of the Company | [●] |
| General corporate purposes | [●] |
Pantomath Capital Advisors Private Limited is the book-running lead manager of the Rays Power Infra IPO. Bigshare Services Private Limited is the Registrar for Rays Power Infra IPO.
Rays Power Infra IPO Draft red herring prospectus (DRHP) and Red Herring prospectus (RHP) are available below.
Rays Power Infra IPO, based in Mumbai, operates in the Power And Energy sector with a focus on Providing utility scale end-to-end renewable energy solutions. The company is launching its MainBoard Upcoming IPO on the BSE,NSE exchange, using the Book Building Issue method. Rays Power Infra IPO size is ₹ [●] with fresh issue size of ₹ 0 Cr. and Offer for sale being ₹ Nil
The IPO allotment date for Rays Power Infra IPO is expected to be [●], after the finalization of basis of allotment. Investors can check Rays Power Infra IPO allotment status on the registrars website, Bigshare Services Private Limited . Rays Power Infra IPO refund dates are [●].
Rays Power Infra IPO is expected to be listed on [●].
The upper price band for the Rays Power Infra IPO is set at ₹ [●] per equity share. IPO price band is arrived at on the basis of IPO Valuation (P/E multiple) which is mentioned in the RHP.
For IPO analysis on Rays Power Infra IPO, explore our Financial Review Page for insights on fundamentals, peer analysis, and key IPO data, assisting investors to make informed decisions to apply or not.
To apply for the Rays Power Infra IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of [●]. After submission, funds are blocked until the basis of allotment of Rays Power Infra IPO is finalised.
The merchant banker for Rays Power Infra IPO is Pantomath Capital Advisors Private Limited , Anand Rathi Securities Limited . Pantomath Capital Advisors Private Limited , Anand Rathi Securities Limited manages the IPO process, including underwriting, regulatory compliance, and investor coordination. Investors can refer to the Rays Power Infra IPO RHP for further details.
The registrar for Rays Power Infra IPO is Bigshare Services Private Limited . Investors can go to Bigshare Services Private Limited registrar website for IPO allotment status, refund processing, and other queries related to Rays Power Infra IPO through their official website or helpline.
Rays Power Infra IPO was subscribed [●] times. Stay updated on IPO details, subscription, and allotment news for informed investment decisions.
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IPO
Size:
[●]
Avg IPO Size (Sector Based)
:
₹ 3,279.05 Cr.
Sector: Power And Energy
IPO so far:
20
Merchant Banker:
Pantomath Capital
IPO by BRLM so far:
14
City:
Mumbai
IPO so far:
207
Revenue (annualised):
₹ 1,220.64 cr.
PE
Ratio:
[●]
Average Sector PE Ratio: 19.22x
Rays Power Infra IPO may offer opportunites, depending on your investment strategy. For in-depth analysis, risk factors, and KPIs, check our detailed report on Rays Power Infra Financial Review Page
Merchant Banker(s) of Rays Power Infra IPO: Pantomath Capital Advisors Private Limited , Anand Rathi Securities Limited
Rays Power Infra IPO subscription was X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.
Rays Power Infra IPO listed at a listing price of against the offer price of .
The current market price of Rays Power Infra is .
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