Quality Power IPO Day 1 Live Updates: The public subscription for Quality Power Electrical Equipments’ initial share-sale will commence on Friday, February 14, and will close on Tuesday, February 18. The provider of high-voltage electrical equipment and solutions has successfully secured ₹386.41 crore from 21 institutional investors through the anchor book on Thursday, February 13.
Quality Power IPO price band has been set between ₹401 and ₹425 per share. The IPO consists of a fresh issuance of equity shares worth up to ₹225 crore, along with an offer-for-sale (OFS) of 1.5 crore equity shares, which is valued at ₹634 crore at the highest end of the price range. This brings the total size of the issue to ₹859 crore. As part of the OFS, promoter Chitra Pandyan will be selling shares of the company. The Pandyan family owns a complete 100 percent stake in Quality Power, which is based in Maharashtra.
Quality Power specializes in essential energy transition equipment operating at voltages up to 765kV and offers power technologies. The company supplies high-voltage electrical equipment and solutions to enhance electrical grid connectivity and facilitate energy transition.
Stay tuned for more updates
Quality Power IPO Day 1 Live Updates: Here’s what GMP hints ahead of the launch
Quality Power IPO GMP today is +14. This indicates Quality Power share price was trading at a premium of ₹14 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Quality Power share price is indicated at ₹439 apiece, which is 3.29% higher than the IPO price of ₹425.
Grey market activity over the past seven sessions indicates that today’s IPO GMP is down and is likely to continue to decline. According to experts on investorgain.com, the lowest GMP is ₹14, and the highest is ₹135.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
