Quality Power Electrical Equipments Limited IPO Day 1: Check GMP, Subscription Status & Key Highlights

Incorporated in 2001, Quality Power Electrical Equipments Limited specializes in energy transition equipment and power technologies, offering high-voltage electrical solutions for grid connectivity. The IPO subscription window opens on February 14, 2025, and closes on February 18, 2025. The allotment process is expected to be finalized on February 19, 2025, with a tentative listing on BSE and NSE scheduled for February 21, 2025.

Quality Power Limited IPO Details

IPO Size: ₹858.70 crores

• Fresh Issue: 0.53 crore shares worth ₹225.00 crores
• Offer for Sale (OFS): 1.49 crore shares totalling ₹633.70 crores

Price Band: ₹401 - ₹425 per share

Minimum Lot Size: 26 shares

Retail Investors:

• Minimum investment: ₹10,426
• Recommended cutoff price investment: ₹11,050 (to mitigate oversubscription risks)

Non-Institutional Investors (NII):

• Small NII (sNII): 19 lots (494 shares) – ₹2,09,950
• Big NII (bNII): 91 lots (2,366 shares) – ₹10,05,550

Quality Power IPO Day 1 Subscription Status

(February 14, 2025, 10:06:00 A.M.)

On Day 1, Quality Power IPO saw a subscription rate of  0.01 times as per the NSE data on February 14, 2025, 10:06:00 A.M. The retail category was subscribed 0.02 times, while the Non-Institutional Investors (NII) segment recorded a subscription of 0.01 times. Within the NII category, bids above ₹10 lakh (bNII) reached 0.01 times, while bids below ₹10 lakh (sNII) stood at 0.01 times. The subscription rate for the Qualified Institutional Buyers (QIB) segment was nil. 

Also Read : Quality Power IPO Day 2 Subscription Status

Utilization of Proceeds

The net proceeds from the fresh issue will be allocated towards several key initiatives. A portion will be used to finance the acquisition of Mehru Electrical and Mechanical Engineers Private Limited. Additionally, funds will support capital expenditure for purchasing plant and machinery, facilitating the company’s operational expansion. The proceeds will also be directed toward inorganic growth through future acquisitions and other strategic initiatives. A part of the funds will be reserved for general corporate purposes. Notably, the company will not receive any funds from the Offer for Sale (OFS), as all proceeds from the OFS will go directly to the selling shareholders and will not be included in the net proceeds.

GMP Details

According to Livemint, The GMP of Quality Power IPO was ₹14 as of February 14, 2025, 09:26:08 AM. If the current GMP trend continues, the estimated listing price is indicated at ₹439, which is 3.29% higher than the IPO price of ₹425.

Note: The Grey Market Premium (GMP) is not an official price and is based on market speculation.

Quality Power Business Overview

Founded in 2001, Quality Power Electrical Equipments Limited specializes in energy transition equipment and power technologies, offering high-voltage electrical solutions for grid connectivity. The company provides power products across the generation, transmission, distribution, and automation sectors, manufacturing critical equipment for High Voltage Direct Current (HVDC) and Flexible AC Transmission Systems (FACTS) networks, essential for integrating renewable energy into power grids. With over two decades of experience, its product portfolio includes reactors, transformers, converters, and grid interconnection solutions, catering to a global market. Quality Power operates manufacturing facilities in Sangli, Maharashtra, and Aluva, Kerala, and expanded its capabilities in 2011 by acquiring a 51% stake in Turkey-based Endoks, enhancing its design, assembly, and project management expertise. As of March 31, 2024, the company served 210 customers, including power utilities, industrial players, and renewable energy providers. Its offerings include power products such as reactors, line traps, transformers, and composite materials, along with power quality systems like Static VAR compensators (STATCOMs), harmonic filters, capacitor banks, and shunt reactors.