Rahee Infratech IPO: Filed DRHP to SEBI

Rahee Infratech Private Limited submits DRHP with SEBI and will be coming up with its public issue. The public issue will be offering a 100% book-built offer. This upcoming IPO is offering a fresh issue worth up to Rs 420 crore of equity shares and an offer for sale of up to 27.80 lakh equity shares. The total aggregate size of a public issue in rupees and the total no. of equity shares that will be issued by the company has not yet disclosed. The face value mentioned by the company is Rs 2 for each share. This new IPO issue is being made through the book-building process with a reservation of less than 75% of the new offer reserved for Qualified Institutional Investors, not more than 15% reserved for NII and not more than 10% reserved for Retail Individuals. The IPO open date and close date are also not yet disclosed by the company, whereas the price band at which you can bid for this IPO will announced soon. The Shares to be offered through the Red Herring Prospectus are proposed by the company to be listed on the BSE and NSE.

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About Rahee Infratech Limited

Rahee Infratech Limited, founded in 1948, is a prominent Indian company specializing in railway infrastructure. Based in Howrah, West Bengal, it focuses on the construction of bridges and track installations and manufacturing resilient fastening systems for railways. With a workforce of 1000 to 5000 employees, Rahee has established itself as a key player in the railway sector, providing high-quality products and services to enhance safe rail journeys. The company is recognized for its innovative approaches and has been awarded titles such as "Best Upcoming Company in the Infrastructure Segment." Its collaboration with international firms further strengthens its capabilities in delivering advanced railway solutions across India.

Rahee Infratech IPO Objectives

The amount of net proceeds from the fresh issue will be used for funding the capital expenditure through the acquisition of machinery, equipment, and vehicles in the tune of Rs 50 crores. Amounts aggregating Rs 280 crores will get use for funding the working capital requirements of the company while the rest of the fund will be used towards general corporate purposes.

Financials of Rahee Infratech Limited

The financials for the company during the period ended March 31, 2024, compared to March 31, 2023, show a solid performance:

1. Assets increased from Rs 671.34 crores in March 2023 to Rs 862.25 crores in March 2024, a 28.42% increase.
2. Revenue grew from Rs 785.82 crores to Rs 965.74 crores, a 22.88% increase.
3. Profit After Tax (PAT) improved from Rs 50.53 crores in March 2023 to Rs 61.00 crores in March 2024, a 20.74% increase.
4. Total Borrowing increased from Rs 157.70 crores to Rs 214.10 crores, a 35.72% increase.

Lead managers and Registrar of Rahee Infratech IPO

The IPO is managed by IIFL Securities Limited, Equirus Capital Private Limited and DAM Capital Advisors Limited, which is the book-running lead manager of this public issue. The company has appointed KFin Technologies Limited as the registrar for this public issue.

Promoters of Rahee Infratech

Pradeep Khaitan, Pawan Khaitan, Ravi Khaitan, Mridul Commodities Private Limited, Rahee Viniyog Limited, Shalimar Fabricators Private Limited and PPR Associates are the identifiable promoters (s) of the company. They collectively held 99.83% of the company's shares. However, post-IPO changes in their shareholding have not yet been disclosed in the prospectus filed by the company with SEBI. To read full DRHP click here.

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