Quality Power IPO subscription began on Friday in the primary market after the company mobilised more than Rs 386 crore from anchor investors.
Quality Power IPO saw 62 percent subscription with the quota for Qualified Institutional Buyers (QIBs) garnering 54 percent subscription while Retail Individual Investors (RIIs) part got subscribed 57 percent. The portion for non-institutional investors received 82 percent subscription.
The Rs 859-crore initial public offering (IPO) by the energy transmission equipment and technologies company opened for subscription on February 14 and will conclude on February 18. Shares are available in the price range of Rs 401 to Rs 425 apiece.
The company's valuation has been pegged at nearly Rs 3,300 crore at the upper-end of the price band.
Incorporated in 2001, Quality Power is engaged in critical energy transition equipment up to 765kv and power technologies and provides high-voltage electrical equipment and solutions for electrical grid connectivity and energy transition.
Quality Power IPO GMP
According to market observers tracking the grey market activities, the shares of the company are commanding a GMP of around 2 percent. Investortain quoted a GMP of Rs 10, indicating a listing premium of 2.35 percent.
The company's revenue from operations for the financial year ended March 31, 2024 was at Rs 300 crore and its profit stood at Rs 55.5 crore.
Quality Power shares will be listed on the BSE and NSE on 21st February, while the allotment is likely to take place on 19th February.
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