Price band
₹ 0 to 0 per equity share
Rays Power Infra IPO
Issue period
Opens On:
Closes On:
Bid lot
0 shares and in multiples thereof
More about the IPO
| Issue size | Rs. 0 Cr |
| Price band | Rs. 0 to 0 per equity share |
| Bid lot | 0 shares and in multiples thereof |
| Issue break-up | QIB - Rs. 0.0 Cr |
| HNI - Rs. 0.0 Cr | |
| RET - Rs. 0.0 Cr | |
| Registrar | |
| Listing at |
Company Details
Established in 2011, we have been one of the early movers in the solar park regime and have now grown into a wellestablished player in turnkey solar engineering, procurement and construction (“EPC”) services, catering to the increasing demand for renewable energy in the country. We are also one of the leading integrated solar power company in India with implementation of solar power projects of 1,207 mega-watts peak (“MWp”).
On the back of our strong regulatory understanding of State laws for land acquisition and our ability to liaise with State land authorities, we have established a track record of acquiring over 5,700 acres of land for our customers across India. We offer a consultative approach to our customers’ solar energy needs and capabilities, which enables us to provide customized solutions to meet their requirements.
Our main business operations include (i) turnkey solar project development by way of land aggregation, obtaining connectivity approvals, bay allocation, facilitating captive arrangements and enabling execution of private power purchase agreements (“PPAs”) between the buyer and the seller and providing EPC services (“Turnkey Solar Services”). In addition to the above, we also provide (ii) solar EPC services (“Solar EPC Business”); and (iii) solar park development services (“Solar Park Business”) to our customers on an independent basis thereby extending flexibility to our customers with respect to the services across the solar power value chain.
Along with our solar power services offerings, we also provide EPC services for other infrastructure classes including water sector, transmission and distribution, smart metering among others (“Other EPC Business”). For our Turnkey Solar Services and Solar EPC Business, we also offer operations and maintenance (“O&M”) services depending on the requirements of our customers. As a part of our Turnkey Solar Services, we have developed and commissioned 828.86 MWp of solar power projects in India and presently projects of 198.50 MWp are under development. In Fiscal 2020, through our 241 step-down subsidiary (where 95.00% is held by our 51.00 % subsidiary, Shining Technologies Ventures Private Limited), HOP Electric Mobility Private Limited (“HOP Electric”) we forayed into manufacturing and supply of electric two-wheeler vehicle (“E2W”) focusing on innovation, sustainability, accessibility, and affordability.
- Log in to the Mirae Asset Sharekhan appMirae Asset Sharekhan app opens in a new tab/window and tap the hamburger menu.
- Under the EQUITY dropdown option, tap IPO/OFS/BOND to land on the IPO dashboard.
- Click on the Current IPO tab and select the IPO of your choice.
- On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
- Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form.
- Read and accept the Terms & Conditions and click on the SUBMIT button. Recheck the details on the order confirmation screen and confirm the order.
- Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well.
- Log in to your UPI app and go to the pending mandates section.
- Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
- Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.
Note: The actual amount will be debited when the shares are allotted to you.
How to apply for an IPO on the Mirae Asset Sharekhan app
How to apply for an IPO on the Mirae Asset Sharekhan website
- Log in to the Mirae Asset Sharekhan websiteMirae Asset Sharekhan website opens in a new tab/window and click the IPO & OTHERS menu option you see on the top-right.
- From the list of Active IPOs, select the IPO of your choice
- On the IPO application form that opens, fill in details like the Demat Account Number, Category of investor, number of lots you wish to invest in, the Cut-Off Price and others.
- Now enter your UPI ID (make sure this UPI ID is connected to your Mirae Asset Sharekhan-mapped bank account) on the form. Read and accept the Terms & Conditions and click on the SUBMIT button.
- Recheck the details on the order confirmation screen and confirm the order.
- Once the exchange receives details about your bid, you will get a notification (IPO mandate request) on your UPI app and an SMS as well. Log in to your UPI app and go to the pending mandates section.
- Verify all the details once again and authenticate your bid amount by entering your UPI PIN.
- Once done, the IPO application amount will be blocked and you will receive an SMS about the blocked Bid amount.
- Your IPO order will now appear on your Mirae Asset Sharekhan Order Book, from where you can modify or cancel your IPO bid if you so wish.
Note: The actual amount will be debited when the shares are allotted to you.
How does an IPO work?
An IPO offers share market participants like you and me an opportunity to be a shareholder in an erstwhile privately held company that is now going public and being listed on the market. Historically speaking, investors who choose the right IPOs make significant returns on their investments, which increases the attraction of IPOs.
Once you are a shareholder, you are eligible to receive dividends from the company proportional to the shares you own. You can also sell your stocks for profit on the stock exchange.
In exchange for its shares, the company has an opportunity to raise huge capital to be used to further enhance its business and scale up its operations. The company also has other benefits, such as credibility; visibility; better leverage to effect mergers, acquisitions and even to procure loans at lower rates of interest.
In India, the entire IPO process is ably regulated by the Securities & Exchange Board of India (SEBI), right from the IPO filing by the company to the bidding, allotments and refunds (in case you aren't allotted shares due to oversubscription).
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FAQs
Yes. IPO & Bonds will reflect in the portfolio.
In case the allotment is not done then bank will unblock the application money from the bank accounts upon receiving instructions from the Registrar.
Bidding time will be till 1200 hrs on the closing day of the issue.
Your bank should be a part of the ASBA participating bankers. Click here to check the list of banks.
Yes, you will receive a sms once the IPO form is processed.
BSE IPO index to track the value of companies for two years after listing subsequent to successful completion of their initial public offering (IPO).
This report provides the debit/credit entry of all the transfers done in the IPO and MF account
Click here to check the status of your IPO application
This product is a Loan Facility offered for applying in Primary Market Issues (IPOs and FPOs). With this product Investors can apply for IPOs by investing only Margin amount (specified for each IPO separately).
