Quality Power makes lacklustre D-Street debut; shares list at 1% premium

Quality Power shares listed at Rs 432.05 per share on the BSE, and Rs 430 per share on the NSE, against the issue price of Rs 425 apiece

Quality Power IPO listing: Shares of Quality Power Electrical Equipments made a lackluster debut on the stock exchanges on Monday, February 24, 2025. On the BSE, Quality Power shares listed at Rs 432.05 per share, reflecting a premium of Rs 7.05, or 1.66 per cent, over its issue price of Rs 425 per share.

 

On the National Stock Exchange (NSE), Quality Power shares listed at a slightly lower premium of Rs 5, or 1.18 per cent, over the issue price, at Rs 430 per share.

 

The listing of the Quality Power IPO, though muted, was above the grey market estimates.

Ahead of the listing, the unlisted shares of Quality Power were trading at a discount in the grey market. Sources tracking grey market activities revealed that the company’s shares were trading at around Rs 415 per share, a discount of Rs 10, or 2.35 percent, from the issue price.

 

The public offering comprises a fresh issue of 5.2 million equity shares, and an offer for sale of 14.90 million equity shares. It was available with a price band of Rs 401-425 per share, and a lot size of 26 shares. 

 

The public offering was available for subscription from Friday, February 14, 2025, to Tuesday, February 18, 2025.

 

Quality Power's IPO received a lackluster response from investors, with the offering being oversubscribed by 1.29 times by the end of the subscription period, riding on the back of the Retail Individual Investors (RIIs), who oversubscribed to 1.83 times the quota reserved for them, according to data available on the BSE.

 

The basis of allotment of Quality Power IPO shares was finalised on Wednesday, February 19, 2025.

 

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

 

Quality Power will use the proceeds from the fresh issue for the payment of the purchase consideration for the acquisition of Mehru Electrical and Mechanical Engineers, and for funding capital expenditure requirements of the company to purchase plant and machinery. The company will further use the proceeds for funding inorganic growth through unidentified acquisitions and other strategic initiatives, as well as for general corporate purposes.

 

Quality Power Electrical Equipments is a technology-driven Indian company serving global clients in critical energy transition equipment and power technologies. The company provides high-voltage electrical equipment and solutions for grid connectivity and energy transition, specialising in power products across generation, transmission, distribution, and automation sectors.