Tue Feb 18 11:02:53 UTC 2025: ## Quality Power Electrical Equipments IPO Oversubscribed on Day 3

**Mumbai, February 18, 2024** – The initial public offering (IPO) of Quality Power Electrical Equipments Ltd. has surpassed expectations, closing its third day of trading significantly oversubscribed. While initial reports fluctuated throughout the day, final figures from the Bombay Stock Exchange (BSE) show the IPO reached over 100% subscription by the close of trading.

The ₹859 crore IPO, which opened on February 14th and closed on February 18th, comprised a fresh issue of ₹225 crore and an offer-for-sale (OFS) of ₹634 crore. The price band was set between ₹401 and ₹425 per share.

Strong demand was primarily driven by Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs), exceeding their allocated quotas. While the Qualified Institutional Buyers (QIBs) segment saw lower subscription rates earlier in the day, it ultimately also contributed to the overall success.

The company, which specializes in energy transmission equipment and technologies, had already secured over ₹386 crore from anchor investors prior to the IPO launch. Funds raised from the fresh issue will be used to acquire Mehru Electrical and Mechanical Engineers and finance capital expenditure.

Pantomath Capital Advisors acted as the book-running lead manager for the IPO. Analysts offered varied opinions on the IPO valuation, with some citing concerns about the high price-to-earnings ratio compared to industry averages, while others highlighted the company’s strong growth potential in India’s expanding energy sector and long-term prospects. The company operates three manufacturing facilities in India and Turkey.

While grey market premiums showed volatility throughout the subscription period, ultimately, shares traded at their issue price on the final day.

**Disclaimer:** This news article summarizes information from various sources and should not be considered investment advice. Investors are advised to conduct their own thorough research and consult with financial professionals before making any investment decisions.

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