Quality Power Electrical Equipments Limited IPO Day 3: 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 opened on February 14, 2025, and will close 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 IPO Day 3 Subscription Status

(February 18, 2025, 10:54:52 AM)

On Day 3, Quality Power IPO saw a subscription rate of  0.88 times as per the NSE data at 10:54:52 AM. The retail category was subscribed 1.28 times, while the Non-Institutional Investors (NII) segment recorded a subscription of 1.16 times. Within the NII category, bids above ₹10 lakh (bNII) reached 1.53 times, while bids below ₹10 lakh (sNII) stood at 0.4 times. The subscription rate for the Qualified Institutional Buyers (QIB) segment was 0.62 times.

Quality Power IPO Day 2 Subscription Status

(February 17, 2025, end of the day)

On Day 2, Quality Power IPO saw a subscription rate of  0.83 times as per the NSE data. The retail category was subscribed 1.08 times, while the Non-Institutional Investors (NII) segment recorded a subscription of 1.1 times. Within the NII category, bids above ₹10 lakh (bNII) reached 1.48 times, while bids below ₹10 lakh (sNII) stood at 0.33 times. The subscription rate for Qualified Institutional Buyers (QIB) segment was 0.62 times. 

Quality Power IPO Day 1 Subscription Status

(February 14, 2025, End of Day)

On Day 1, Quality Power IPO saw a subscription rate of  0.62 times, according to NSE data. The retail category was subscribed 0.58 times, while the Non-Institutional Investors (NII) segment recorded a subscription of 0.83 times. Within the NII category, bids above ₹10 lakh (bNII) reached 0.14 times, while bids below ₹10 lakh (sNII) stood at 1.15 times. The subscription rate for the Qualified Institutional Buyers (QIB) segment was 0.54 times. 

Quality Power Limited IPO Details

Quality Power’s IPO is set to raise ₹858.70 crores, comprising a fresh issue of 0.53 crore shares worth ₹225.00 crores and an Offer for Sale (OFS) of 1.49 crore shares totalling ₹633.70 crores. The price band is fixed between ₹401 and ₹425 per share, with a minimum lot size of 26 shares. Retail investors can participate with a minimum investment of ₹10,426, though bidding at the cutoff price of ₹11,050 is recommended to navigate potential oversubscription. For non-institutional investors (NII), small NIIs (sNII) must invest in a minimum of 19 lots (494 shares) amounting to ₹2,09,950, while big NIIs (bNII) need to bid for at least 91 lots (2,366 shares) valued at ₹10,05,550.

Utilization of Proceeds

The net proceeds from the fresh issue will be allocated towards several key initiatives such as:

• Acquisition Funding: A portion of the net proceeds will be used for acquiring Mehru Electrical and Mechanical Engineers Private Limited.
• Capital Expenditure: Funds will be allocated for purchasing plant and machinery to support operational expansion.
• Inorganic Growth: The company plans to use part of the proceeds for future acquisitions and strategic initiatives to drive growth.
• General Corporate Purposes: A portion of the funds will be reserved for general corporate needs.
• No Proceeds from OFS: The company will not receive any funds from the Offer for Sale (OFS), as these will go directly to the selling shareholders.

GMP Details

As per reported by Business Standard Media Report, as of February 18, 2025, 8:52 AM, the Grey Market Premium (GMP) for Quality Power IPO was ₹0, indicating that the shares were trading at ₹425 with no premium or discount in the grey market.

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

Quality Power Business Overview

Quality Power Electrical Equipments Limited, established in 2001, is a leading provider of high-voltage electrical solutions for energy transition and grid connectivity. Specializing in HVDC and FACTS networks, the company plays a key role in integrating renewable energy into power grids. With manufacturing facilities in Maharashtra and Kerala and a 51% stake in Turkey-based Endoks since 2011, Quality Power offers a diverse product portfolio, including reactors, transformers, converters, and power quality systems like STATCOMs and harmonic filters. As of March 31, 2024, it served 210 customers across power utilities, industries, and renewable energy sectors.