Tue Feb 18 05:12:17 UTC 2025: ## Quality Power Electrical Equipments IPO 83% Subscribed After Day 3

**Mumbai, February 17** – The initial public offering (IPO) of Quality Power Electrical Equipments Ltd., a company specializing in energy transmission equipment, has garnered 83% subscription after three days of trading. The ₹859 crore IPO, priced between ₹401 and ₹425 per share, is set to close on Tuesday.

Strong interest from Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) propelled the subscription rate, with NIIs subscribing 1.10 times their allocated quota and RIIs subscribing 1.07 times. However, Qualified Institutional Buyers (QIBs) showed less enthusiasm, with a subscription level of only 62%.

The IPO includes a fresh issue of ₹225 crore and an offer-for-sale (OFS) of ₹634 crore, with the proceeds from the fresh issue earmarked for the acquisition of Mehru Electrical and Mechanical Engineers and capital expenditure. Promoter Chitra Pandyan is offering 1.2 crore equity shares through the OFS.

The company, which raised over ₹386 crore from anchor investors including LIC Mutual Fund, Bank of India MF, and several others, has listed peers such as Transformers & Rectifiers (India) Ltd., Hitachi Energy India Ltd., and GE Vernova T&D India Ltd.

While the grey market premium (GMP) currently stands at ₹0, indicating no premium or discount over the issue price, it has shown a downward trend in recent sessions, having previously reached a high of ₹135.

The IPO is managed by Pantomath Capital Advisors. Investors are advised to consult with financial advisors before making any investment decisions.

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