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- Quality Power Electrical Equipments IPO; Price Band, Review, Allotment Details Update
Mumbai7 minutes ago
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Quality Power Electrical Equipments Limited’s Initial Public Offer i.e. IPO will open today. Investors will be able to do bidding by 18 February for this issue. On February 21, the company shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Through this issue, the company wants to raise the total ₹ 858.70 crore. For this, current investors of Quality Power Electrical Equipments are selling 1,49,10,500 share offers for ₹ 633.70 crore through Offer for Sale. At the same time, the company will issue 52,94,118 new share of ₹ 225 crore for IPO.
How much money can you spend minimum and maximum?
Quality Power Electrical Equipments have fixed the price band of IPO ₹ 401- ₹ 425. Retail investors can do bidding for minimum for a lot ie 26 shares. If you apply for 1 lot of IPO’s Upper Prize Band ₹ 425, then you have to invest ₹ 11,050.
At the same time, retail investors can apply for maximum 18 lots i.e. 468 shares. For this, investors will have to invest ₹ 1,98,900 according to the upper prize band.
10% of the issue reserved for retail investors
The company has reserved 75% of the IPO for qualified institutional buyers (QIB). Apart from this, 10% share is reserved for non-institutional investors (NII).
Quality Power Electrical Equipment Limited was held in 2001
Quality Power Electrical Equipment Limited was established in 2001, which has expertise in provision of power products and solution in power generation, transmission, distribution and automation sectors. Along with this, large scale also provides equipment and solution prepared for applications such as applications.
Promoters of the company are Thalwaderai Pandian, Chitra Pandian, Bharanidharan Pandian and Pandian Family Trust. Listed Competitors of Quality Power Electrical Equipment include companies like Transformers and Rectifyers (India), Hitachi Energy India and GE Vernova T&D India.
What is IPO?
When a company releases its shares for the common people for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
