Tue Feb 18 06:27:17 UTC 2025: ## Quality Power Electrical Equipments IPO Undersubscribed on Day Three

**Mumbai, February 18, 2025** – The initial public offering (IPO) of Quality Power Electrical Equipments, an energy transition equipment manufacturer, remains undersubscribed as of its third day. The ₹858.70 crore issue, which opened on February 16th, has reached only 86% subscription.

While the retail and non-institutional investor (NII) portions are fully subscribed (1.19x and 1.12x respectively), the qualified institutional buyer (QIB) segment is significantly under-subscribed at 0.62 times. The IPO comprises a ₹225 crore fresh issue and a ₹633.70 crore offer for sale, priced between ₹401 and ₹425 per share. Proceeds from the fresh issue will fund the acquisition of Mehru Electrical and Mechanical Engineers, capital expenditure, and other strategic initiatives.

Despite raising ₹386.41 crore from anchor investors, the IPO’s grey market premium (GMP) has fallen to zero, indicating investor caution. Listing is expected on February 21st, with share allotment finalized on February 19th. This underperformance contrasts with the successful Hexaware Technologies IPO, which raised ₹8,750 crore and concluded its bidding on February 14th. Hexaware’s shares are set to list on February 19th. Other recent IPOs, including those of Laxmi Dental, Indo Farm Equipment, Stallion India, Ajax Engineering, and Standard Glass Lining, are currently trading below their issue prices.

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