Quality Power IPO will remain open for subscription till Tuesday. The company’s initial public offering (IPO) will be available for the public till February 18, 2025. The issue has been priced in the range of Rs 401 to Rs 425 apiece.

The maiden offering includes a fresh issue of equity shares worth Rs 225 crore and an offer-for-sale (OFS) of 1.5 crore shares worth Rs 634 crore, at the upper end of the price band. The complete issue size stands at Rs 859 crore.

The OFS is being provided by promoter Chitra Pandyan. A complete 100 per cent stake in the firm is controlled by the Pandyan family. The funds raised from the issue would be utilised to complete the acquisition of Mehru Electrical and Mechanical Engineers, finance the capex requirements to purchase plant and machinery, and oversee inorganic growth via unidentified acquisitions.

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Quality Power GMP Today

The company’s maiden issue is commanding a premium of merely Rs 5-6 apiece in the grey market, as per IPOJi. This represents a grey market premium of 1.18 per cent against the issue price. The grey market runs parallel to the official stock market and provides investors an opportunity to place their bets on an issue before the listing begins trading on the stock exchanges. A premium in the grey market represents the possibility of how a company will fare once its gets listed officially and helps understand the sentiment among investors towards the listing and its performance.

So far, the company has recieved 0.70 times subscriptions for the IPO. Link Intime India Private Ltd is the registrar for the issue, while Pantomath Capital Advisors Pvt Ltd has been appointed as the lead manager for the IPO. The allotment for the maiden offering will be finalised on February 19 and the company is expected to make its debut in the stock market on February 21, 2025.

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