Quality Power IPO listing on Monday, Feb 24; Here's what GMP indicates

Estimated to be worth around Rs 858 crore, the Quality Power IPO received a muted response from investors, with the issue being oversubscribed by 1.29 times

Quality Power IPO listing forecast: Shares of Quality Power Electrical Equipments are slated to make their D-Street debut tentatively on Monday, February 24, 2025, following the completion of its initial public offering (IPO). Estimated to be worth around Rs 858.70 crore, the Quality Power IPO received a muted response from investors, with the issue being oversubscribed by 1.29 times.

 

Meanwhile, the unlisted shares of Quality Power were trading at a discount in the grey market ahead of their listing on the exchanges. Sources tracking grey market activities revealed that the company's shares were trading at around Rs 423 per share, a discount of Rs 2 or 0.47 per cent below the issue price.  The current grey market trends for the Quality Power IPO indicate a negative listing for the company's shares. Nevertheless, since the grey markets remain unregulated, investors should not solely rely on this and should consider it as just an indicator.

 

 

Quality Power IPO details

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 Quality Power IPO was open for public subscription from Friday, February 14, 2025, to Tuesday, February 18, 2025. 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 for purchasing 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.

  About Quality Power Electrical Equipments

Quality Power Electrical Equipments operates in the energy transition equipment and power technologies sector. The company manufactures high-voltage electrical equipment and provides solutions for grid connectivity and energy transition. It has manufacturing facilities in Sangli, Maharashtra, and Aluva, Kerala. The company has a global presence, with a comprehensive product portfolio in energy transition equipment and power technologies.