The initial public offering (IPO) of Quality Power Electrical Equipments Limited has been subscribed 1.29 times on the final day of bidding. The retail category was subscribed 1.82 times, QIB category registered a subscription of 1.03 times, and NII category registered a subscription of 1.45 times on Tuesday, as per latest details.
The IPO was kicked off on February 14, 2025 and closed today. The allotment of the issue is likely to be finalized on February 19, 2025. It will reportedly list on BSE and NSE on February 21, 2025. Earlier, the public issue was subscribed 62% on day 1 and witnessed a subscription of 82% on day 2.
Quality Power Latest GMP
The latest GMP or Grey Market Premium is nil at present, according to latest update available at 10:20. With the price band of Rs 425 per share, the IPO’s likely listing price is Rs 425. The likely percentage of gain or loss is 0%, according to investorgain.
Price Band
The price band is between Rs 401-Rs 425 per share. Investors will be eligible to apply for a minimum of 26 shares and its multiple thereafter. The company seeks to raise Rs 858.70 crore through the IPO consisting fresh shares of Rs 225 crore. It includes offer for sale or OFS of approximately 1,49,10,500 equity shares worth Rs 633.70 crore.
The company plans to use net proceeds from the fresh issue for various purposes that may include acquisition funding, capital expenditure, inorganic growth, and general corporate purposes. The firm will not get any funds from the OFS as they will reportedly go directly to the selling shareholders.
Retail investors will be eligible to participate with minimum Rs 10,426 investment. However, bidding at the cutoff price of Rs 11,050 has been suggested to navigate likely oversubscription. For NII and small NIIs, they should invest in a minimum of 19 lots or 494 shares worth Rs 2,09,950. On the other hand, NIIs will have to bid for at least 91 lots or 2,336 shares worth Rs 10,05,550.
About
Quality Power Electrical Equipments came in to existence in 2001. It is engaged in energy transition equipment and power technologies and provide high voltage electrical solutions for grid connectivity.
Disclaimer: The above content has been made for educational purposes only, and should be considered as investment advice from Moneydaily.in or the respective Author. Neither Moneydaily.in nor the Author will not be responsible for any losses as a result of decisions based on the above information. Moneydaily.in advises readers to do your own research or consult with a SEBI registered investment advisor before making any investment decisions.
Recommended: Tejas Cargo IPO, Day 2: Check Latest GMP, Subscription Status, & Key Details
Leave a Reply