Clean-tech player Rite Water Solutions in India plans to launch an IPO worth 745 Cr, they have filed DRHP with the SEBI, IPO has a combination of fresh issues of Rs 300 Cr and OFS 445 Cr by promoters and investors.
Further, in this OFS process, promoters will reduce their position by selling shares, and the company would not get any proceeds as it would be provided to promoters after the deduction of expenses and taxes, according to DRHP.
Additionally, in this OFS process, Rs 85 crore will be offered by Vinayak Shankarrao Gan who is a promoter and also Rs 90 crore by Abhijeet Vinayak Gan, and up to Rs 270 crore by Water Access Acceleration Fund S.L.P.
Rite Water Solutions is going to be listed on the BSE and NSE stock exchanges, called Mainboard IPO.
There is a possibility of pre-IPO placement as, if a pre-IPO placement is successful, Rs 60 crores will be issued by BRLM as anchor investors and fresh issue size would be reduced.
IPO proceeds from the Fresh issue would be utilized for company purposes such as working capital requirements and general corporate purposes.
Rite Water Solutions is known as a Clean-tech3 company, it is one of the leading firms regarding water solutions. In addition, they have the business of providing water rural transformation quality power and water solutions, solar agriculture solutions, and Internet of things solutions for energy, agriculture, and water management sectors.
Rite Water Solutions was founded in 2004, it used a high-quality light model, allowing its business to be efficient as it requires less capital investment and provides flexibility and strength in the market.
Notably, this company operates predominantly in rural India by closing work along with varied states of government.
Rite Water Solutions IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Rite Water Solutions Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹78.86 | ₹70.35 | ₹8.68 |
| 2023 | ₹121.59 | ₹85.55 | ₹25.02 |
| 2024 | ₹206.84 | ₹136.20 | ₹49.28 |
| December 2024 | ₹309.65 | ₹212.81 | ₹71.51 |
Rite Water Solutions IPO Valuation – FY2024
Rite Water Solutions IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹7.43 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 21.04% |
| Net Asset Value (NAV): | ₹35.31 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| ION exchange (India) Limited | 16.53 | 32.63 | 19.19 | 69.40 | 2347.85 Cr. |
| VA Tech Wabag Limited | 39.49 | 33.09 | 13.77 | 292.42 | 2856.40 Cr. |
| Shakti Pumps (India) Limited^ | 12.81 | 70.06 | 18.75 | 62.86 | 1370.74 Cr. |
| EMS Limited | 29.38 | 26.64 | 19.13 | 143.73 | 793.31 Cr. |
| Ceinsys Tech Limited | 22.52 | 71.91 | 14.95 | 143.27 | 252.94 Cr. |
| Enviro Infra Engineers Limited | 8.13 | 30.47 | 37.16 | 21.35 | 728.92 Cr. |
Objects of the Issue
- Funding working capital requirements of our Company; and
- General corporate purposes
IPO Lead Managers aka Merchant Bankers
- JM Financial Limited
- Axis Capital Limited
