Rite Water Solutions (India) Limited
- Unlisted share
- Infrastructure & Services
- ISIN INE235Q01028
At a glance
Sales
FY24
₹203 Cr
+69.8%on FY23What the company earned from its customers in the year.
Profit
FY24
₹49.28 Cr
+97.0%on FY23What was left after every cost and tax was paid.
Market valuecalculated
₹3,506 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY24
₹234 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- Rite Water Solutions (India) Limited
- ISIN
- INE235Q01028
- Sector
- Infrastructure & Services
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹490.05
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About Rite Water Solutions (India) Limited
Rite Water Solutions is a Nagpur-based company that builds and runs drinking-water treatment and supply schemes for rural areas, supplies solar-powered farm solutions and installs IoT monitoring systems for water and power utilities, mostly on government contracts. It began in 2004 as Nagpur Aquatech Private Limited and is promoted by Vinayak S. Gan and his son Abhijeet V. Gan, who together held about 80% of the equity when it filed draft IPO papers in February 2025.
Written from: sebi.gov.in, ritewater.in
Listing status. Draft red herring prospectus dated 10 February 2025 filed with SEBI (posted on SEBI's site 13 February 2025): fresh issue of up to ₹300 crore plus an offer for sale of up to ₹445 crore. No red herring prospectus was on SEBI's site when checked on 6 October 2026. Not listed. SEBI filings page
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Infrastructure & Services
- ISIN
- INE235Q01028
- Year of incorporation
- 2004
- Headquarters
- Nagpur, Maharashtra
- Promoters
- Vinayak S. Gan and Abhijeet V. Gan
- Key people
- Chairman and Whole-Time Director: Vinayak S. Gan; Managing Director and Chief Executive Officer: Abhijeet V. Gan; Chief Financial Officer: Shyam Balkrishna Bhattbhatt
- Permanent employees
- 282 people
- Face value per share
- ₹2
- Equity shares outstanding
- 7,15,46,790 shares
- CIN
- U29100MH2004PLC148812
- Website
- ritewater.in
Read from: Draft red herring prospectus dated 10 February 2025 (SEBI), unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to earnings (P/E)calculated
66×
At this price you pay ₹66 for every ₹1 of profit the company made in the year.
Price to book (P/B)calculated
14.97×
At this price you pay ₹14.97 for every ₹1 of net worth on the company's books.
Profit margincalculated
24.3%
Out of every ₹100 of sales, ₹24.3 was left as profit.
Return on equitycalculated
21%
For every ₹100 of the owners' money, the company made ₹21 of profit in the year.
Debt to equitycalculated
0.07×
The company has borrowed ₹0.07 for every ₹1 of its owners' money.
- Indicative price
- ₹490.05
- Market valuecalculated
- ₹3,506 Cr
- price × shares
- No. of shares
- 7,15,46,790
- EPS
- ₹7.43
- Book value per share
- ₹32.73
- Face value
- ₹2
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2023-24. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
Rite Water Solutions (India) Limited. As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY22 to FY24: ₹76.81 Cr to ₹203 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY22 to FY24: ₹8.68 Cr to ₹49.28 Cr.
| Particulars | FY22 | FY23 | FY24Latest |
|---|---|---|---|
| Revenue from operations | 76.81 | 119.43 | 202.75▲70% |
| Other income | 2.04 | 2.15 | 4.09▲90% |
| Total income | 78.86 | 121.59 | 206.84▲70% |
| Depreciation and amortisation | 0.36 | 0.74 | 1.68▲127% |
| Finance costs | 1.87 | 1.87 | 2.27▲21% |
| Profit before tax | 8.51 | 36.03 | 70.65▲96% |
| Profit after tax | 8.68 | 25.02 | 49.28▲97% |
| Earnings per share (basic) (₹) | 1.03 | 2.97 | 7.43▲150% |
Rupees crore unless marked, consolidated. The change shown is the latest year against the year before. Read from: Draft red herring prospectus dated 10 February 2025 (SEBI).
Credit rating. ACUITE A (long term) and ACUITE A1 (short term), Acuité Ratings & Research, 2 August 2024 (2 August 2024) Draft red herring prospectus dated 10 February 2025 (SEBI)
Ownership
Shareholding pattern
Who owns the company
As of Date of the DRHP (10 February 2025)
48.9%Vinayak S. Gan (promoter)
- Largest holder
- 48.9%
- Top 3 together
- 87.5%
- Holders named
- 5
- Vinayak S. Gan (promoter)48.85%
- Abhijeet V. Gan (promoter)31.28%
- Omkar Vishwas Pathak7.34%
- Vishwas Vasant Pathak3.56%
- Mukul Mahavir Agrawal3.45%
- Total94.48%
Read from: Draft red herring prospectus dated 10 February 2025 (SEBI)
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised |
|---|---|---|---|---|
| 15 Nov 20245,96,22,325 bonus shares issued, five for every one share held. | Bonus issue | Equity shares | Not stated | Not stated |
| 7 Feb 20242,13,818 shares of ₹10 face value placed at ₹1,520 each with investors including Mukul Mahavir Agrawal (before the later split and bonus). | Private placement | Equity shares | ₹1,520 | Not stated |
| 7 Nov 20234,60,531 preference shares of ₹10 placed at ₹1,445 each with Water Access Acceleration Fund S.L.P. | Private placement | Compulsorily convertible preference shares | ₹1,445 | Not stated |
| 12 Apr 20236,39,516 shares of ₹10 bought back at ₹109.46 each from SIDBI Trustee Co. (Samriddhi Fund). | Buyback | Equity shares | ₹109.46 | Not stated |
Read from: Draft red herring prospectus dated 10 February 2025 (SEBI)
Leadership
Management
Vinayak S. Gan
Chairman and Whole-Time Director
Abhijeet V. Gan
Managing Director and Chief Executive Officer
Shyam Balkrishna Bhattbhatt
Chief Financial Officer
Aparna Krishnakant Pittie
Non-Executive Nominee Director
Vinod K. Verma
Independent Director
Ashutosh Prabhakar Joshi
Independent Director
Khushboo Anish Pasari
Independent Director
Read from: Draft red herring prospectus dated 10 February 2025 (SEBI)
Corporate calendar
Events
- 10 Feb 2025DRHPDraft red herring prospectus filed with SEBI for a ₹745 crore IPOOpen
- 26 Nov 2024ConversionCertificate of incorporation issued on conversion to a public limited companyOpen
- 15 Nov 2024Bonus issueBonus shares allotted, five for every one heldOpen
- 10 Oct 2024Share splitShareholders approved splitting each ₹10 share into five ₹2 sharesOpen
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about Rite Water Solutions (India) Limited on WhatsAppIs the price shown for Rite Water Solutions (India) Limited final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my Rite Water Solutions (India) Limited shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell Rite Water Solutions (India) Limited shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Similar stocks
More in Infrastructure & Services
Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by Rite Water Solutions (India) Limited. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.