Rahee Infratech, a company based in Kolkata, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 30, 2024, to raise funds through an Initial Public Offering (IPO). This IPO will be a mix of new shares being issued and an offer for sale (OFS) by some of the company’s current shareholders.
Details of Rahee Infratech IPO
The IPO will offer shares with a face value of ₹2 each. It will include ₹420 crore worth of new shares and the sale of up to 2.7 million shares from existing shareholders. The OFS includes shares being sold by several key stakeholders, including Pradeep Khaitan, Pawan Khaitan, Ravi Khaitan, Nandini Khaitan, and Shashi Khaitan.
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About Rahee Infratech
Rahee Infratech focuses on railway civil engineering, construction, and manufacturing. The company is well-known for building railway bridges and laying tracks. It has completed 105 major railway bridges and laid over 258.9 km of ballastless tracks for metro rail systems.
As of July 2024, Rahee Infratech had 16 bridge projects and 12 track projects in progress across 18 states. The company’s order book, as of March 2024, was valued at ₹2,296.27 crore. Moving forward, it plans to continue focusing on bridge and track projects, while expanding into new areas like viaducts for metro and railway infrastructure.
Rahee Infratech’s clients include major railway players like Rail Vikas Nigam and IRCON International.
The company operates four manufacturing facilities located in West Bengal and Telangana, as well as two steel fabrication sites in West Bengal and Odisha. It also partners with international companies like Pandrol and Tracktec GmbH to bring advanced railway technology to India.
Financial Performance
Rahee Infratech has seen strong financial growth, with its revenue increasing by a compound annual growth rate (CAGR) of 31.69%. The company’s revenue grew from ₹556.84 crore in FY 2022 to ₹965.74 crore in FY 2024. Its profit after tax (PAT) also rose from ₹37.81 crore in FY 2022 to ₹71.31 crore in FY 2024.
The IPO will be managed by IIFL Securities and Equirus Capital, with the shares allocated to different types of investors through a book-building process.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
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