Quality Power IPO: GMP, subscription status, date, review, other details. Apply or not?
- Quality Power IPO GMP: According to stock market observers, Quality Power shares are available at a premium of ₹27 in the grey market today
Quality Power IPO: The initial public offering (IPO) of Quality Power Limited has hit the Indian primary market today and will remain open until 5:00 PM on 18 February 2025. The energy company has declared a Quality Power IPO price band of ₹401 to ₹425 per equity share. With a market capitalization of ₹3,291.38 crore, the company aims to raise ₹858.70 crore from this mainboard IPO, a mix of fresh shares and offers for sale (OFS). Meanwhile, company shares are available for trade in the grey market. According to stock market observers, Quality Power shares are available at a premium of ₹27 in the grey market today.
Quality Power IPO subscription status
By 3:33 PM on day 1 of bidding, the public issue had been subscribed 0.46 times, the retail portion had been booked 0.51 times, the NII segment had been filled 0.64 times, and the QIB portion had been booked 0.34 times.
Quality Power IPO details
1] Quality Power IPO GMP: According to stock market observers, Quality Power shares are available at a premium of ₹27 in the grey market today.
2] Quality Power IPO date: The book build issue opens today and will remain open until 18 February 2025.
3] Quality Power IPO price: The energy company has declared the price band of Quality Power IPO at ₹401 to ₹425 per equity share.
4] Quality Power IPO size: The company aims to raise ₹858.70 crore, of which ₹225 crore is expected from the issuance of fresh shares. The remaining ₹633.70 crore is reserved for the OFS route.
5] Quality Power IPO lot size: A bidder can apply in lots, and one lot of the public issue compares 26 company shares.
6] Quality Power IPO minimum investment: As one lot of Quality Power IPO comprises 26 company shares, the minimum amount required to apply for the public offer is ₹11,050 ( ₹425 x 26).
7] Quality Power IPO allotment date: The most likely date for share allotment is 19 February 2025.
8] Quality Power IPO registrar: Link Intime India Private Limited has been appointed the initial offer's official registrar.
9] Quality Power IPO Lead Manager: Pantomath Capital Advisors has been appointed lead manager of the book build offer.
Quality Power IPO: Apply or not?
10] Quality Power IPO review: Assigning a 'buy' tag to Quality Power IPO, Palak Devadiga, Research Analyst at StoxBox, said, "The company is valued at a PE ratio of 81.9x on the upper price band based on FY24 earnings, which is lower than its peers. Given its strong financial growth, diverse product portfolio and global customer base, the company is well-positioned to achieve sustained growth within the sector. Therefore, we recommend a SUBSCRIBE rating for medium to long-term investment."
Mehta Equities has also assigned a 'subscribe' tag to the book build issue, saying, "On valuation parse at the upper price band of ₹425/-, the issue is asking a Market Cap of ₹3291 cr/-. Based on annualized FY 2025 earnings and fully diluted post –IPO paid-up capital, the company is asking for a P/E of 30.76x, which appears reasonable compared to its listed industry peers. Given its recent strategic growth initiatives like the acquisition of Mehru Electricals, which would allow the company to expand its product range, especially in 500kV transformers, which could strengthen its position in the high voltage equipment market, we believe QPEEL is well-positioned to capitalize on India's evolving energy landscape. Hence, with all attributes, we recommend investors to "SUBSCRIBE" to the Quality Power Electrical Equipments Ltd IPO for a long-term perspective."
Reliance Securities and SBI Capital Securities have also suggested applying to the public issue.
The book-build issue's market capitalization is ₹3,291.38 crore. According to the Red Herring Prospectus (RHP) of Quality Power IPO, the public issue's net proceeds will be utilized to acquire Mehru Electrical and Mechanical Engineers Private Limited, fund the company's capital expenditure requirements, general corporate purposes, etc.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
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