Quality Power Electrical Equipments IPO Day 2: Check To Know Subscription, GMP & More

The IPO season is in full swing, as Sangli-based energy transition equipment and power technologies company Quality Power Electrical Equipments entered its second day of IPO or Initial Public Offering.

Quality Power IPO Day 2

The IPO opened on February 14. As of today, as per the latest data, the IPO has been subscribed 0.77 times, according to the National Stock Exchange (NSE).

A total of 85,33,148 bids have been made, against the 1,11,12,530 shares.

When it comes to Retail Individual Investors (RIIs), the IPO has been subscribed 0.85 times, with a total bid of 17,15,584, compared to 20,20,460 that are available.

When it comes to Qualified Institutional Buyers (QIBs), as per NSE, the IPO has been subscribed 0.62 times. In addition to that, when it comes to non-institutional investors, the IPO has been subscribed 1.02 times, with a total bid of 30,80,194, against 30,30,690 shares that are on offer.

IPO GMP

When it comes to the IPO's Grey market premium or GMP, Quality Power IPO GMP stood at Rs 5. According to Investorgain.com, the GMP was last updated on February 17, at 11:35 AM.

Here, GMP indicates the flow of the IPO, along with the indication towards the eventual listing.

As per current estimates, the IPO may is estimated to be listed at the price of Rs 430, with a potential premium of 1.18 per cent.

IPO Details

Quality Power Electrical Equipment is an energy company. The IPO which kickstarted on February 14, will close on Tuesday, February 18 (tomorrow).

The IPO has a minimum retail bid of Rs 11,050 for one lot of 26 shares.

It has a minimum bid of Rs 2,09,950 HNIs for 19 lots of 494 shares.

Chitra Pandyan, Thalavaidurai Pandyan, Bharanidharan Pandyan, and the Pandyan Family Trust are the promoters of the company. The current shareholding of the promoters is 100 per cent, which is expected to go down to 73.91 per cent.