Quality Power IPO GMP: Significant Drop in Grey Market Premium; Did You Apply? Allotment Status Link and Listing Date

Quality Power IPO GMP: Significant Drop in Grey Market Premium; Did You Apply? Allotment Status Link and Listing Date

The Quality Power IPO, a company specializing in energy transmission equipment and technologies, has seen a major drop in its grey market premium (GMP). The GMP has plummeted from Rs 115 to just Rs 5, signaling a potentially disappointing listing gain. The IPO registrar is Link Intime India, and the shares are expected to list on February 21.

IPO Subscription and GMP Trends:

As of Day 2 (February 17), Quality Power’s Rs 859 crore IPO was subscribed 83%. Bids were received for 92,24,514 shares against the 1,11,12,530 shares offered. As of Tuesday at 11 AM, the subscription rate stood at just 0.88%, with non-institutional investors subscribing 1.15 times and retail individual investors (RIIs) subscribing 1.28 times. Qualified institutional buyers (QIBs) received 62% of their quota.

The shares are priced between Rs 401 and Rs 425 in the primary market. According to grey market data, the GMP has fallen drastically from Rs 115 to Rs 5, suggesting that Quality Power shares may list at Rs 120, showing a modest gain of 4.3%.

Allotment and Listing Information:

Quality Power IPO allotment is expected to be finalized by Wednesday (February 19), with the allotment status available on Link Intime India’s website: https://www.linkintime.co.in/.

Shares will be listed on both the NSE and BSE on February 21 at 10 AM, with trading commencing thereafter.

Company Details:

Quality Power raised over Rs 386 crore from anchor investors before the IPO. The company has issued a fresh equity share worth Rs 225 crore and an offer-for-sale (OFS) of 1.5 crore shares, valued at Rs 634 crore. Funds raised will be used for acquiring Mehru Electrical and Mechanical Engineers, purchasing plant and machinery, and other strategic initiatives for inorganic growth and general corporate purposes.

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