Quality Power IPO Day 2; check subscription data, GMP, review, listing date

Quality Power has garnered reviews from brokerages, including Reliance Securities, SBI Securities, and Mehta Equities, for its public offering

Quality Power IPO subscription status: The initial public offering (IPO) of Quality Power Electrical Equipment, which opened for public subscription on February 14, 2025, has so far received a muted response from investors. The offering, which is available at a price band of Rs 401-425 per share, with a lot size of 26 shares, has received bids for 77,55,150 equity shares, against 1,11,12,530 shares on offer as of around 10:35 AM on Monday, February 17, according to data from the NSE. This represents a subscription of 70 percent.

 

Among other categories, Qualified Institutional Buyers (QIBs) have subscribed to 54 per cent of the category reserved for them, Non-Institutional Investors (NIIs) have subscribed to 97 per cent, and Retail Individual Investors (RIIs) have subscribed to 76 per cent.  Also Read: Hexaware Technologies IPO Allotment Status

 

Investors can bid for a minimum of 26 shares and in multiples thereof. Retail investors need a minimum of Rs 11,050 to bid for one lot, comprising 26 shares. For a maximum bid within the Rs 2,00,000 limit, retail investors can apply for up to 18 lots, or 468 shares.

 

Quality Power IPO grey market premium (GMP)

Shares of Quality Power were trading at Rs 430 apiece in the grey market, reflecting a premium of Rs 5 or 1.18 per cent over the upper price band of Rs 425, according to sources tracking unofficial market activities.

 

Quality Power IPO review

Quality Power has also garnered reviews from brokerages, including Reliance Securities, SBI Securities, and Mehta Equities, for its public offering. READ MORE

 

Quality Power IPO allotment date, listing date

The Quality Power IPO is slated to remain open for public subscription tentatively until Tuesday, February 18, 2025. Following that, the basis of allotment of Quality Power IPO shares is likely to be finalized on Wednesday, February 19, 2025, with shares credited to investors' demat accounts by Thursday, February 20, 2025.

 

Shares of Quality Power are scheduled to list on the BSE and NSE tentatively on Friday, February 21, 2025.  Also Read: Ajax Engineering IPO listing

 

Quality Power IPO objective

Quality Power will not receive any proceeds from the Offer for Sale (OFS), with the Promoter Selling Shareholder entitled to their portion of the proceeds after deducting offer-related expenses and taxes. However, Quality Power intends to utilize the proceeds from the fresh issue for the payment of the purchase consideration for the acquisition of Mehru Electrical and Mechanical Engineers, as well as for funding capital expenditure requirements of the company for the purchase of plant and machinery. The company will also utilize the proceeds for funding inorganic growth through unidentified acquisitions, other strategic initiatives, and general corporate purposes.

 

Quality Power IPO registrar, BRLM 

Link Intime India is the registrar for the issue, while Pantomath Capital Advisors is the sole book-running lead manager for the Quality Power IPO.

 

About Quality Power Electrical Equipment

Incorporated in 2001, Quality Power Electrical Equipment is engaged in the business of energy transition equipment and power technologies. The company provides high-voltage electrical equipment and solutions for grid connectivity and energy transition, specializing in power products across the generation, transmission, distribution, and automation sectors. The company manufactures critical high-voltage equipment for High Voltage Direct Current (HVDC) and Flexible AC Transmission Systems (FACTS) networks, enabling energy transition from renewable sources to power grids.