Quality Power Surges into Market with Rs 859-Crore IPO

Quality Power, an energy transmission firm, is launching a Rs 859-crore IPO with a price band set between Rs 401 and Rs 425 per share. The IPO includes both new equity shares and an offer-for-sale. Proceeds from the IPO will fund acquisitions and capital expenditures.

Quality Power, an energy transmission equipment and power technologies company, has announced the price band for its Rs 859-crore initial public offering (IPO), set between Rs 401 and Rs 425 apiece.

The IPO, opening to public subscription on February 14 and closing on February 18, includes a fresh issuance of equity shares worth Rs 225 crore in addition to an offer-for-sale (OFS) by the promoter, Chitra Pandyan. The company aims to use funds to acquire Mehru Electrical and Mechanical Engineers Pvt Ltd and for capital expenditure.

The IPO is structured to allocate 75% of shares for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Expected to be listed on the BSE and NSE on February 24, this move marks a significant step in Quality Power's strategy to expand through strategic acquisitions and corporate investments.

(With inputs from agencies.)