214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

70  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

70  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

70  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9804.70 Crs.  Total funds raised in 2,025.00

144  SME IPOs listed with Gain in 2025

70  SME IPOs listed with loss in 2025

Rays Power Infra Limited IPO Peer Comparison

Rays Power Infra IPO is a MainBoard Upcoming IPO coming on BSE,NSE with an IPO size of [●] .
This IPO falls under the Power And Energy sector, which has seen 20 IPOs to date. Key sector metrics such as average PE ratio, IPO size, EBITDA margin, and PAT margin are compared below with the figures from the Rays Power Infra IPO.

Rays Power Infra
IPO Details


IPO Industry -
Power And Energy

IPOs So Far: 20

Issue Size (IPO)

[●]

Total Fund Raised

₹ 65,581.02 Cr.

Average Issue Size

₹ 3,279.05 Cr.

PE Ratio (IPO)

[●] x

Average PE Ratio

19.22 x

EBITDA Margin (IPO)

17.32 %

Average EBITDA Margin

50.16 %

PAT Margin (IPO)

11.42 %

Average PAT Margin

16.36 %

Rays Power Infra
IPO Details

IPO Industry

Power And Energy

IPOs So Far 20


IPO Fund Raised

[●]

Total Fund Raised

₹ 65,581.02 Cr.

Average Fund Raised

₹ 3,279.05 Cr.

IPO PE Ratio

[●] x

IPO EBITDA

17.32 %

IPO PAT

11.42 %

Average PE Ratio

19.22 x

Average EBIDTA

50.16 %

Average PAT

16.36 %

Peer Companies of Rays Power IPO as Per DRHP

Rays Power Infra IPO Peer Comparison with key metrics mentioned in the DRHP.

Company Name
FV
CMP
Revenue
Basic EPS
Diluted EPS
NAV
PE
RoNW %
EBITDA
Profit after tax
Profit Margin
Borrowings
Net Worth
2
1220.64
4.96
4.95
21.89
28.89
194.20
139.35
11.42
270.44
615.78
1
242.75
6301.86
3.49
3.49
42.57
69.56
8.78
246.73
85.55
1.36
901.47
994.52
2
1010.75
1597.74
22.00
21.95
43.57
45.94
65.29
310.90
228.92
14.33
27.37
454.95
10
2398.80
987.16
79.52
79.52
259.61
30.17
47.59
234.47
158.55
16.06
270.61
517.63
KPI Green Energy Limited
5
447.55
1735.45
16.23
16.09
132.44
27.58
18.77
563.77
325.27
18.74
1125.47
2629.78
Company Name FV CMP Revenue Basic EPS Diluted EPS NAV PE RoNW % EBITDA Profit after tax Profit Margin Borrowings Net Worth
Rays Power Infra Limited 2 1220.64 4.96 4.95 21.89 28.89 194.20 139.35 11.42 270.44 615.78
Sterling and Wilson Solar Limited 1 242.75 6301.86 3.49 3.49 42.57 69.56 8.78 246.73 85.55 1.36 901.47 994.52
Waaree Energies Limited 2 1010.75 1597.74 22.00 21.95 43.57 45.94 65.29 310.90 228.92 14.33 27.37 454.95
Oriana Power Limited 10 2398.80 987.16 79.52 79.52 259.61 30.17 47.59 234.47 158.55 16.06 270.61 517.63
KPI Green Energy Limited 5 447.55 1735.45 16.23 16.09 132.44 27.58 18.77 563.77 325.27 18.74 1125.47 2629.78
Notes

Source: All the financial information for listed industry peer mentioned above is on a consolidated basis and is sourced from the filings made with stock exchanges available on www.bseindia.com and www.nseindia.com for the Financial Year ending March 31, 2025.

 

  • The Basic Earnings Per share is calculated based on Consolidated Profit available to equity shareholders as on 31st March 2025 divided by Total no. of paid up shares of the company as on 31st March 2025.  
  • Earnings available to equity shareholders is calculated based on Consolidated Profit before interest and tax less interest, tax, preference dividend (if any).  
  • Net Assets value is calculated based on Total Assets minus outside liabilities and provisions or calculated on the basis of paid up share capital of the company plus Reserves and Surplus of the company. 
  • Net Asset value per share is calculated based on Net asset value as calculated divided by Total paid up diluted number of Equity Shares.  
  • P/E is calculated based on Market Price per share as on 26th September, 2025 divided by Earnings per Share as on 31st March 2025. 
  • Return on Net Worth (%) = Net profit after tax, as restated / Average Net worth as restated as at year end. 
  • Net worth means the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account and debit or credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, as per the audited balance sheet, but does not include reserves created out of revaluation of assets, write-back of depreciation and amalgamation. 
  • Operating EBITDA is calculated as restated Profit / (Loss) before share of profit / loss of Joint Ventures & Associates, Exceptional items and Tax minus other Income plus Finance Costs and Depreciation & Amortization expense.  

Peer Comparison of Rays Power IPO in This Sector

You can do performance analysis for Rays Power IPO with Listed IPOs in the Power And Energy sector and review their IPO performance based on Merchant banker, Listing price, IPO Valuation and other metrics.

Select Listed IPO for Comparison:
Basis
Rays Power IPO
vs
vs
vs

IPO Date
[●]


IPO Size
[●]

Total Assets
₹ 1,432.70 Cr.

Revenue
₹ 1,220.64 Cr.

PAT
₹ 139.35 Cr.

PAT Margin
11.42 %

Leverage Ratio
0.44 x

PE Multiple
[●] x

EV/EBITDA
0.80 x

Notes:
1) All the above data is at the time of IPO
2) Revenue and Pat is taken on annualised basis

IPO Performance Report of Power And Energy Sector

This IPO report captures the post-listing performance of IPOs in the Power And Energy sector, featuring key metrics like offer price, listing gain, and CMP to help investors assess return potential and sector sentiment.

NAME OFFER PRICE LISTING PRICE LISTING GAIN CMP CMP %
Prostarm Info IPO
Financial Report >>
₹ 105.00 ₹ 120.00 14.29% ₹ 196 86%
NTPC Green IPO
Financial Report >>
₹ 108.00 ₹ 121.50 12.50% ₹ 99 -9%
Indian Renewable IPO
Financial Report >>
₹ 32.00 ₹ 59.99 59.99% ₹ 149 365%
Inox Green IPO
Financial Report >>
₹ 65.00 ₹ 59.10 -9.08% ₹ 229 252%
IndiGrid InvIT IPO
Financial Report >>
₹ 100.00 ₹ 98.45 -1.55% ₹ 168 68%
Inox Wind IPO
Financial Report >>
₹ 325.00 ₹ 438.00 438.00% ₹ 141 -56%
Power Grid IPO
Financial Report >>
₹ 90.00 ₹ 96.60 96.60% ₹ 285 217%
Orient Green IPO
Financial Report >>
₹ 47.00 ₹ 44.90 44.90% ₹ 13 -72%
SJVN Limited IPO
Financial Report >>
₹ 26.00 ₹ 25.05 25.05% ₹ 90 246%
NTPC Limited IPO
Financial Report >>
₹ 201.00 ₹ 203.00 203.00% ₹ 334 66%
Rural Electrification IPO
Financial Report >>
₹ 203.00 ₹ 241.85 241.85% ₹ 373 83%
JSW Energy IPO
Financial Report >>
₹ 95.00 ₹ 100.75 100.75% ₹ 534 463%
Indiabulls Power IPO
Financial Report >>
₹ 45.00 ₹ 39.25 39.25% ₹ 11 -75%
NHPC Limited IPO
Financial Report >>
₹ 36.00 ₹ 36.70 36.70% ₹ 85 137%
Adani Power IPO
Financial Report >>
₹ 100.00 ₹ 100.05 100.05% ₹ 149 49%
KSK Energy IPO
Financial Report >>
₹ 240.00 ₹ 190.50 -20.63% [●] 0.00%
Rural Electrification IPO
Financial Report >>
₹ 105.00 ₹ 121.20 121.20% ₹ 373 255%
Reliance Power IPO
Financial Report >>
₹ 450.00 ₹ 372.50 -17.22% ₹ 45 -90%
BGR Energy IPO
Financial Report >>
₹ 480.00 ₹ 901.30 901.30% ₹ 304 -37%
Indowind Energy IPO
Financial Report >>
₹ 65.00 ₹ 114.05 114.05% ₹ 16 -75%

Sector wise IPO Performance Report Available >>

Rays Power Infra IPO Draft red herring prospectus (DRHP) and Red Herring prospectus (RHP) are available below.

Listed Peers IPO Details

Rays Power Infra Limited
[●]
IPO Size : [●]
Sterling and Wilson Solar Limited
20th August 2019
IPO Size : 3145.16 Cr.
Waaree Energies Limited
28th October 2024
IPO Size : 4321.44 Cr.
Oriana Power Limited
11th August 2023
IPO Size : 59.66 Cr.
KPI Green Energy Limited
[●]
IPO Size : [●]
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Explore Other DRHPs

Prostarm Info Systems Limited

  Power and Energy

  Mumbai


NTPC Green Energy Limited

  Power and Energy

  New Delhi


Indian Renewable Energy Development Agency Ltd

  Power and Energy

  New Delhi


Inox Green Energy Services Limited

  Power and Energy

  Vadodara


IndiGrid InvIT Fund

  Power and Energy

  New Delhi


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SME IPO?
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FAQs of Rays Power IPO

Who are the peers of Rays Power Infra IPO

The peers of Rays Power Infra , include other listed companies operating in the (Power And Energy) segment. These peer companies typically offer similar services Some of the notable peers as per the DRHP of this company are Rays Power Infra Limited , Sterling and Wilson Solar Limited , Waaree Energies Limited , Oriana Power Limited , KPI Green Energy Limited
See the complete list of current IPO

What is Peer Comparison in IPO Analysis?

Peer Comparison is the method of evaluating an entity by comparing its performance, size of business form other entities operating in same industry or sector. It involves financial analysis by comparing key financial metrics like Profitability, Net worth, Market Capitalization and Leverage IPO Performance tracker

Why Peer Comparison is important for IPO Review?

Peer comparison helps to identify companies in the same sector with a similar business. It helps to compare the financial performance and valuation against its listed peers. An investor or an analyst can decide whether the IPO price is justified when compared to its peers. An investor can make informed decision whether to apply to IPO or not on basis of peer comparison. Know the process of DRHP and Peer companies Information required to be disclosed in DRHP.

As of now 20 IPOs are listed in this sector indicating strong growth in this sector. Choosing the best IPO depends on factors like, financial performance, valuation, market trends and future growth plans. IPO Review and performance.

What is a good PE ratio for an Power And Energy company?

A good PE Ratio for Power And Energy sector depends on various factors like, performance of the company, market conditions, company valuation and IPO Size. PE Ratio varies from sector to sector and company to company. Know the average PE Multiple in each sector.

How many companies are listed in the Power And Energy sector?

Currently 20 companies are listed under Power And Energy sector. Based on the latest data from the Stock Exchanges. Choose the Best Merchant Banker from the Merchant Banker List

Is Rays Power Infra IPO good in comparison with its competitors?

Performance of companies depends on various factors like, profits, future plans, Market share, PE Ratio etc. By assessing these factors investor can make better investment decisions.Rays Power Infra Peer comparison provides IPO analysis of companies listed in this sector, on the basis of different Key performance indicators (KPI)like, Listing Gain of peers, current market price, PE Ratio and IPO Size.

Which are the Upcoming IPO in the Power And Energy sector?

Upcoming IPO refers to companies which have filed their DRHP with the Stock exchange and are awaiting approval from NSE or BSE 9 companies have filed their DRHP for IPO under Power And Energy sector. .New IPO 2025-2026 and Upcoming IPO

How to calculate the PE multiple based on your sector?

PE Multiple is a metrics that is widely used for IPO Valuation. Merchant bankers in coordination with the company decides the PE Multiple.The PE Multiple depends on various factors and it should be analyzed in coordination with other financial metrics. Know the PE ratio of your company with PE Calculator provided by IPOplatform

Explore Other DRHPs

Prostarm Info Systems Limited

  Power and Energy

  Mumbai


NTPC Green Energy Limited

  Power and Energy

  New Delhi


Indian Renewable Energy Development Agency Ltd

  Power and Energy

  New Delhi


Inox Green Energy Services Limited

  Power and Energy

  Vadodara


IndiGrid InvIT Fund

  Power and Energy

  New Delhi


Read more details of this IPO

Peer Companies Of This Sector

FAQs

Rays Power Infra operates in Power And Energy and Providing Utility Scale End-to-end Renewable Energy Solutions. The Issue is listed on BSE,NSE in Oct, 2025. Rays Power Infra IPO size was with Issue price of .

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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