Share price of Quality Power Electrical makes modest debut with 1.66% premium on BSE

Market Performance

Shares of Quality Power Electrical were listed on Dalal Street on Monday, February 24, with a modest premium over the issue price. The stock opened at ₹432.05 on the BSE, reflecting a 1.66% increase from its issue price of ₹425 per share. On the NSE, it debuted at ₹430, registering a 1.18% premium.

IPO Subscription and Listing Details

The Quality Power IPO was met with moderate investor interest. The IPO was subscribed 1.29 times. Within different investor categories:

• Retail Individual Investors (RIIs) subscribed 1.83 times.
• Non-Institutional Investors (NIIs) subscribed 1.45 times.
• Qualified Institutional Buyers (QIBs) subscribed 1.03 times.

Company Overview

Quality Power Electrical specializes in energy transmission equipment and technologies. The company focuses on high-voltage direct current (HVDC) and flexible AC transmission systems (FACTS) technologies, playing a role in grid modernization and renewable energy integration.

IPO Details

• Issue Price: ₹425 per share
• Fresh Equity Issuance: 52.9 lakh shares
• Offer for Sale (OFS): 1.49 crore shares
• Market Capitalization (at upper price band): ₹3,291 crore
• Funds Raised from Anchor Investors: Over ₹386 crore
• Lead Manager: Pantomath Capital Advisors

Fund Utilization Plan

The company intends to allocate funds towards:

• Acquisition of Mehru Electrical and Mechanical Engineers
• Capital expenditure requirements
• Future acquisitions and strategic growth initiatives
• General corporate purposes

Summary

Quality Power Electrical's listing saw a modest premium over its issue price amid subdued market conditions. The IPO subscription levels indicated moderate investor interest, with the company planning to use the raised capital for expansion and infrastructure development in the energy transmission sector.