Quality Power IPO listed at ₹432 on BSE, a 2% premium to its issue price of ₹425. The stock made a muted debut, opening at ₹432.05 on BSE. The last GMP was ₹5, matching the listing price, indicating an accurate grey market prediction and a positive listing for GMP expectations.
The Quality Power IPO was subscribed 1.29 times overall, receiving 1.43 crore bids against 1.11 crore shares offered (₹607.92 crore). Anchor investors took 1x, while QIBs subscribed 1.03x, NIIs 1.45x (bNII 1.78x, sNII 0.79x), and retail investors 1.82x.
Overview of Contents
Details About Quality Power IPO
Quality Power IPO includes a ₹225 crore fresh issue and an OFS of 1.49 crore shares. The price band is set at ₹401-₹425, with allotment expected on February 19, 2025, and listing on February 21, 2025, on BSE & NSE. The company reported ₹331.4 crore revenue in 2024, up from ₹273.55 crore in 2023, with profits rising to ₹55.47 crore from ₹39.89 crore.
- Qualified Institutional Buyers (QIBs): 75% of the IPO is reserved for QIBs.
- High Net-Worth Individuals (HNIs): 15% of the IPO is allocated to HNIs.
- Retail Investors: 10% of the IPO is set aside for retail investors.
Quality Power IPO Financial Performance
Quality Power has shown strong financial growth, with total assets rising from ₹252.86 Cr in 2022 to ₹399.64 Cr as of September 2024. Revenue surged to ₹331.40 Cr in FY24 from ₹211.73 Cr in FY22, while PAT increased from ₹42.23 Cr in 2022 to ₹55.47 Cr in 2024. The company’s net worth reached ₹238.63 Cr, supported by ₹150.43 Cr in reserves. Borrowings stood at ₹25.55 Cr as of September 2024, reflecting a manageable debt level.
About Quality Power IPO Company
Quality Power Electrical Equipments Limited, incorporated in 2001, specializes in high-voltage electrical solutions for power generation, transmission, and automation. With over 20 years of experience, the company serves 210 global customers, including power utilities and renewable energy firms.
It manufactures critical HVDC and FACTS equipment, supporting renewable energy integration into power grids. Operating from units in Maharashtra and Kerala, it also holds a 51% stake in Endoks, Turkey. Its diverse product portfolio, including reactors, transformers, converters, and power quality systems, positions it as a key player in the global energy transition market.
Funds Deployment
- Acquisition: Purchase of Mehru Electrical and Mechanical Engineers Pvt. Ltd.
- Capital Expenditure: Investment in plant and machinery.
- Inorganic Growth: Funding acquisitions and strategic initiatives.
- General Corporate Purposes: Supporting overall business operations.