Quality Power Electrical Equipment to List on February 24

Shares of Quality Power Electrical Equipment will go public on February 24 instead of February 21. The issue which opened for subscription on February 14 received a weak response from investors.

The ₹858.70 crore initial public offer (IPO) was a mix of fresh issue, valued at 225 crore, and an offer-for-sale of ₹634 crore. The price band has been decided between ₹401-425 apiece.

The IPO received bids for more than 1.43 crore shares against 1.11 crore shares on offer. As per the NSE data, shares were booked by 1.29 times on Day 3.

Founded in 2001, Quality Power Electrical Equipments Ltd is engaged in facilitating high-voltage electrical solutions. The company is headquartered in Maharashtra’s Sangli.