Tue Feb 18 05:12:20 UTC 2025: ## Quality Power IPO Receives Subdued Response

**Mumbai, February 18, 2025** – The initial public offering (IPO) of Quality Power Electrical Equipments Ltd. has received a lackluster response from investors. As of 5:00 pm on Monday, the second day of bidding, the ₹858.70 crore IPO was subscribed only 0.83 times, with bids received for 92,29,168 shares against 1,11,12,530 shares on offer.

While the retail investor category saw 1.07 times subscription and non-institutional investors (NII) showed 1.1 times subscription, the qualified institutional buyer (QIB) category was significantly under-subscribed at 0.62 times. The three-day IPO closes today, February 18th. The price band is set at ₹401 to ₹425 per share.

Market observers note a zero grey market premium (GMP) as of Monday evening, suggesting a potentially negative listing on February 21st, the tentative listing date. While shares briefly traded at ₹430 in the grey market earlier in the day, this represented only a 1.18% premium over the upper IPO price. The minimum investment for retail investors is ₹10,426 (26 shares).

The IPO’s allocation will be finalized on February 19th, with listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) scheduled for February 21st. The underwhelming response contrasts with the recently concluded Hexaware Technologies IPO, which garnered significant interest. Further details on the Hexaware IPO are available separately.

Read More