Rays Power Infra Ltd IPO

Established in 2011, we have been one of the early movers in the solar park regime and have now grown into a well-established 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 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.