Rite Water Solutions IPO Upcoming
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About Rite Water Solutions
Rite Water Solutions, founded in 2006 by Vinayak S. Gan and Abhijeet V. Gan, provides clean-tech solutions catering to water treatment, solar agriculture, and IoT-based applications. Built on an asset-light, execution-focused model, the company primarily serves government clients through centrally-sponsored schemes like Jal Jeevan Mission and PM Kusum. The company operates a manufacturing and assembly facility in Nagpur, Maharashtra, and has expanded its project footprint across multiple Indian states, delivering environmental solutions aligned with sustainability and ESG goals.
Financials of Rite Water Solutions
*All figures are in ₹ Crores.
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹745 crores |
| Fresh Issue | ₹300 crores |
| Offer for sale | ₹445 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 225.2 (75.07%) |
| General corporate purposes | (not exceeding 25% of the gross proceeds) |
Strengths
- Comprehensive clean-tech solutions across multiple high-growth sectors.
- Strong execution backed by innovation and robust client relationships.
- Asset-light, scalable, and agile operational business model.
- Sustainability-driven operations aligned with global ESG principles.
- Experienced leadership with proven profitability and strong investor backing.
Risks
- Heavy reliance on government contracts for project revenues.
- Delay or cancellation in Order Book impacts growth.
- Significant dependence on a few major government clients.
- Asset-light model relies heavily on third-party suppliers.
- High share of unbilled revenue strains working capital flows.