Rite Water Solutions Limited IPO is fully book build issue and total IPO size is ₹745 crores. The offering includes a fresh issue worth ₹300 crores and an offer for sale of ₹445 crores.
The dates for the Rite Water Solutions IPO have not been announced yet.
The allotment process is expected to be finalized by [.]. The Rite Water Solutions IPO is scheduled to list on BSE, NSE, with a tentative listing date of [.].
The price band for the Rite Water Solutions IPO has not been announced yet.
Registrar for this IPO is Bigshare Services Private Limited and lead managers for Rite Water Solutions IPO are JM Financial Limited, Axis Capital Limited.
IPO Schedule
| IPO Open Date | - |
|---|---|
| IPO Close Date | - |
| IPO Allotment Date | - |
| Refund Initiation | - |
| Share credit in Demat | - |
| Listing Date | - |
Key Details
| Price Band | TBA |
|---|---|
| Lot Size | TBA |
| Face Value | ₹2 Per Equity Share |
| Total Issue Size | ₹745.00 Crores |
| Fresh Issue | ₹300.00 Crores |
| OFS Issue | ₹445.00 Crores |
| Issue Type | Fresh Issue and Offer for Sale |
| Listing At | BSE, NSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 50% |
| Retail | 35% |
| NII/HNI | 15% |
About Rite Water Solutions Limited Company
Rite Water Solutions (India) Ltd is a Clean-tech company focused on rural transformation through water solutions, solar agriculture solutions, and IoT for energy, agriculture, and water management. The company is the second fastest-growing in the water sector based on revenue between Fiscal 2022 and 2024, with a strong EBITDA margin improving from 11.32% in Fiscal 2022 to 34.77% in Fiscal 2024.
The company's revenue has grown at a CAGR of 62.46% between Fiscal 2022 and 2024. As of December 31, 2024, the total order book stood at ₹1,723.13 crore. Rite Water operates on an asset-light model and has a presence across 21,807 villages. They have installed purifying capacity of 62.74 crore litres of water per day impacting 6,990 villages and have installed 8,736 solar pumps under the PM Kusum Scheme across 3,831 villages.
Rite Water is committed to sustainable solutions, reflected in their ESG ratings and marquee impact investors. The company received the 'Future Ready Organization Award 2024-25' by The Economic Times. Promoted by Abhijeet V. Gan and Vinayak S. Gan, Rite Water is well-positioned to contribute to India's infrastructure growth and social development.
Rite Water Solutions Limited Financial Details
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 422.18 | 295.25 | 126.13 | 101.09 |
| Revenue | 305.68 | 202.75 | 119.43 | 76.81 |
| Profit After Tax | 71.51 | 49.28 | 25.02 | 8.68 |
| Net Worth | 305.71 | 234.20 | 93.17 | 68.19 |
| Reserves and Surplus | 290.94 | 231.35 | 90.36 | 63.58 |
| Total Borrowing | 40.44 | 17.23 | 3.74 | 16.16 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 7.43 | 21.04% | 35.31 | 0.08 | 21.04% | 27.22% |
Offer Objectives
The Offer comprises a Fresh Issue of equity shares aggregating up to ₹30 crore (INR 300 million) and an Offer for Sale of equity shares aggregating up to ₹44.5 crore (INR 445 million) by the Selling Shareholders.
Fresh Issue Proceeds: The company proposes to utilize the net proceeds from the Fresh Issue for:
- Funding working capital requirements of the company.
- General corporate purposes.
An amount of ₹22.52 crore (INR 225.212 million) is proposed to be utilized towards funding working capital requirements. ₹12.82 crore (INR 128.264 million) and ₹9.69 crore (INR 96.948 million) is for fiscals 2026 and 2027 respectively.
The company may consider a Pre-IPO Placement aggregating up to ₹6 crore (INR 60 million), not exceeding 20% of the Fresh Issue size. If undertaken, the amount raised will be reduced from the Fresh Issue, and utilized towards the Objects of the Offer.
The utilization of net proceeds is based on management estimates and current business plans. The offer related expenses in relation to fresh issue and general corporate expenses are to be finalized upon determination of the offer price and updated in the prospectus.
The gross proceeds from the fresh issue are ₹30 crore (INR 300 million).
Company Details
Address:
Plot No. K-60, MIDC Industrial Area,
Hingna Road Nagpur - 440016,
Maharashtra, India;
Phone: +91 71 2222 0002
Email: [email protected]
Website: http://www.ritewater.in
IPO Registrar Details
Bigshare Services Private Limited
Phone: 022 6263 8200
Email: [email protected]
Website: https://ipo.bigshareonline.com/
Offer Prospectus & Documents
Lead Managers
- JM Financial Limited
- Axis Capital Limited
