Quality Power Energizes IPO with Anchor Investment

Quality Power has mobilized over Rs 386 crore from anchor investors ahead of its IPO, opening on February 14. The IPO includes a fresh issue of up to Rs 225 crore and an offer-for-sale of 1.5 crore shares, aggregating the total to Rs 859 crore.

Quality Power, a key player in energy transmission technologies, has successfully secured more than Rs 386 crore from anchor investors in anticipation of its forthcoming IPO.

The anchor round saw participation from prominent investors, including LIC Mutual Fund and Bank of India MF, among others, as confirmed by a BSE circular.

With an IPO opening on February 14, the company aims to raise Rs 859 crore, valuing itself at nearly Rs 3,300 crore, and plans on utilizing proceeds for acquisitions and corporate growth.