Quality Power IPO: The initial public offering (IPO) of critical high voltage equipment manufacturer Quality Power Electrical Equipments Ltd is set to hit Dalal Street this week. The mainboard IPO comes amid weakness in the secondary market, with the benchmark indices, Sensex and Nifty 50, having declined significantly from their peaks.
The Indian stock market is witnessing heavy selling pressure from foreign portfolio investors (FPI) amid global geopolitical uncertainties and concerns over domestic economic growth.
Quality Power IPO Details
Quality Power IPO will open for public subscription on Friday, February 14, and will close on Tuesday, February 18. The company plans to raise ₹858.70 crore from the primary market.
Quality Power IPO is a book-built issue, which comprises a combination of fresh issue of 52.94 lakh equity shares aggregating to ₹225.00 crore and an offer-for-sale (OFS) component of 1.49 crore shares worth ₹633.70 crore.
Quality Power IPO price band has been set at ₹401 to ₹425 per share. The IPO lot size is 26 shares and the minimum investment amount required by retail investors is ₹10,426.
The IPO allotment is expected to be finalised on February 19, and the equity shares of Quality Power Electrical Equipments Ltd will be listed on both the stock exchanges, BSE and NSE, likely on Friday, February 21.
Pantomath Capital Advisors Pvt Ltd is the book-running lead manager of the Quality Power IPO, while Link Intime India Private Ltd is the IPO registrar.
Ahead of the Quality Power IPO opening, the trends for the company’s shares in the unlisted market remain bullish with a decent grey market premium (GMP). Let’s take a look at what Quality Power IPO GMP ahead of issue opening suggests.
Quality Power IPO GMP
Quality Power Electrical Equipments shares are signalling a mildly bullish trend in the grey market. According to stock market observers, Quality Power IPO GMP today is ₹27 per share. This means that in the grey market, Quality Power shares are trading higher by ₹27 than their issue price.
Quality Power IPO GMP today signals the stock trades at ₹452 apiece in the grey market, at a premium of 6.35% to the issue price of ₹425 per share.
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