Quality Power IPO Day 3: Price, GMP, Subscription and Other Key Details

The initial public offering (IPO) of Quality Power Electrical Equipments Ltd commenced on February 14 and has amassed a subscription status of 83%, buoyed by participation of Non-Institutional Investors (NIIs) and Retail investors. The subscription window will close on February 18.

While the quota of non-institutional investors was subscribed 1.10 times, Retail Individual Investors (RIIs) and Qualified Institutional Buyers (QIBs) booked at 1.07 times and 62% respectively.

The company has raised more than ₹386 crore from its anchor investors. Price range has been fixed between ₹401 to ₹425 per share.

The IPO of Quality Power Electrical Equipments is valued at ₹859 crore, which comprises fresh equity of ₹225 crore and an offer-for-sale (OFS) of ₹634 crore.

The funds raised via the issue will be utilised to acquire Mehru Electrical and Mechanical Engineers, while financing capital expenditure needs for the purchase of equipment and machinery.

Quality Power GMP

As per investorgain.com, the grey market premium (GMP) of Quality Power Electrical Equipments IPO stood at ₹0, which means that the shares were trading at the issue price of ₹425 without any discount or premium.

As per grey market activities observed in the last 11 days, the current GMP is reporting weak response from investors and is expected to decline further in the coming days. As per the experts at investorgain.com, the minimum GMP stood at ₹0, whereas maximum GMP clocked at ₹135.00.