Quality Power IPO booked 1.29 times on Day 3: Here’s how to check allotment status on NSE, BSE and MUFG Intime India

Quality Power IPO sailed through on the final day of the subscription after receiving a lukewarm response from investors in the first two days. The power equipment supplier's IPO received bids for more than 1.43 crore shares against 1.11 crore shares on offer. According to NSE data, the issue was booked 1.29 times on Day 3.

Quality Power Electrical Equipments raised ₹858.7 crore from the primary market through this public issue. The mainboard issue opened for subscription on February 14. After witnessing a tepid demand from the investors in the first two days of bidding, the IPO was fully booked on the last day, led by retail investors.

The Non-Institutional Investors (NIIs) subscribed to their category 1.45 times with bids for over 43.94 lakh shares against the allocation of 30.3 lakh shares. The retail quota was booked 1.82 times. The retail investors applied for 36.74 lakh shares compared to 20.2 lakh shares set aside for them. The Qualified Institutional Buyers placed bids for 62.34 lakh shares against their reserved portion of 60.61 lakh shares.

Quality Power IPO allotment status is scheduled to be finalised on Wednesday, February 19, after a successful subscription.

Investors awaiting the finalisation of the company's share allotment can verify the details on the NSE and BSE websites. The IPO allotment status can also be checked on the portal of the issue registrar, MUFG Intime India Private Ltd.

Steps to check Quality Power IPO allotment status NSE

• Visit the NSE IPO allotment status page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Chose ‘Equity & SME IPO bid details’
• Select Quality Power Electrical Equipments Limited from the list of IPO names.
• Enter your application number and PAN details
• Click ‘Submit’ to view the status of your IPO allotment.

Steps to check IPO allotment status on MUFG Intime India Private Ltd

• Visit the official website of Link Intime India to check the IPO allotment status: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
• Select Quality Power Electrical Equipments Limited from the drop-down menu for company names
• Select from PAN, Application Number, DP ID, or Account Number
• Enter the relevant details for verification
• Click on the ‘Submit’ button

The IPO allotment status will be available only after the company completes the share allocation process. The allotment status can also be verified on the BSE website using PAN and application number details.

Quality Power Electrical Equipments IPO key details

• Quality Power Electrical Equipments IPO comprised a fresh issue of 52.94 lakh shares, worth up to ₹225 crore, and an offer for sale (OFS) of 1.49 crore shares, amounting to ₹633.7 crore.
• The company had fixed an issue price band of ₹401 to ₹425 per share for the IPO. The minimum lot size is 26 shares.
• Pantomath Capital Advisors Private Ltd is the book-running lead manager of Quality Power Electrical Equipments IPO.
• Refunds are scheduled for Thursday, February 20, and shares will be credited to allottees' demat accounts on the same day.
• The company has proposed to list its shares on the NSE and BSE on Friday, February 21.

About Quality Power Electrical IPO

Quality Power Electrical Equipments Ltd, founded in 2001, specialises in energy transition equipment and power technologies. It provides high-voltage electrical solutions for grid connectivity and energy transition, with products catering to the generation, transmission, distribution and automation sectors. The company has a global presence in over 100 countries.

The company plans to use the net proceeds generated from its initial public offering to acquire Mehru Electrical and Mechanical Engineers Private Ltd. A portion of the funds will be used for capital expenditures, including buying plants and machinery.

The remaining funds will be used for inorganic growth strategies and general corporate purposes.

As of September 30, 2024, Quality Power Electrical Equipments’ revenue from operations stood at ₹155.73 crore, and net profit at ₹50 crore. In the financial year ended March 31, 2024 (FY24), the company’s revenue from operations was reported at ₹300.59 crore, while the net profit at ₹55.47 crore.