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The price band of Quality Power's IPO has been kept at Rs 401-425 per share. There are 26 shares in one lot. Investors can apply for a minimum of 26 shares or multiples of it.
The IPO of energy transition equipment maker Quality Power Electrical Equipments opened for subscription on Friday (February 14). The company aims to raise Rs 858.70 crore through its IPO.
Quality Power IPO Size
Quality Power has already raised Rs 386.41 crore from anchor investors with the bidding ending on February 13, 2025.
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The company's IPO consists of a fresh issue of 52,94,118 equity shares and an offer for sale (OFS). In this, promoter Chitra Pandian is selling 14,910,500 equity shares of the company.
Quality Power IPO Price Band and Lot Size
The price band of Quality Power IPO has been fixed at Rs 401-425 per share. One lot consists of 26 shares. Investors can apply for a minimum of 26 shares or in multiples thereof.
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Retail investors will need a minimum of Rs 11,050 to bid for one lot of 26 shares. While for a maximum bid within the limit of Rs 2,00,000, retail investors can apply for up to 18 lots or 468 shares.
Latest GMP of Quality Power IPO
Quality Power's IPO is getting a decent response in the grey market. According to sources tracking grey market activities, the company's shares are available in the grey market at Rs 439 on Friday (February 14).
This is Rs 14 or 3.29 per cent higher than the upper price band of Rs 425.
Quality Power IPO Allotment and Listing Date
Quality Power's IPO will close for subscription on Tuesday (February 18). Allotment of Quality Power's IPO can be finalized on Wednesday (February 19).
Quality Power shares are likely to be listed on BSE and NSE on Friday (February 21).
Quality Power IPO: Should You Apply or Not?
Brokerage firm Choice Broking has advised to 'Subscribe' to Quality Power IPO.
The brokerage said that considering its more than two decades of experience in the energy transition sector and its wide range of solutions with products, we believe that the company is well positioned to benefit from the growing demand for energy transition equipment.
This position will help the company to create profitable business growth.
SBI Securities: Subscribe for long term
SBI Securities has recommended 'Subscribe' to Quality Power IPO for long term at the cut-off price. The brokerage says that Quality Power is priced at FY24 P/E and EV/Ebitda multiple of 59.3x and 80.8x respectively.
This is based on the upper price band on post-issue capital, which seems expensive.
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