Quality Power which opened its subscription from February 14 to February 18, were expected to be listed on February 21, according to the T+3 listing rule.
However, as per the latest update, the company is now expected to be listed on Monday, February 24.
After the three day bidding process, the allotment was finalised on February 20.
Quality Power IPO: GMP update
Ahead of its listing, the stock was trading at a Rs 2 discount in the grey market. This suggested a possible listing price of Rs 423 per share, slightly below the IPO’s upper price band of Rs 425.
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The IPO received a moderate response from investors, with an overall subscription of 1.29 times by the final bidding day. The breakdown of subscription across investor categories was that retail portion was subscribed 1.82 times. Similarly, the QIB portion received a subscription rate of 1.03 times an the NII portion was subscribed 1.45 times
Quality Power IPO: Key highlights of the IPO
Quality Power raised Rs 386.41 crore from anchor investors on February 13.
The IPO was priced in the range of Rs 401 to Rs 425 per share. The total issue size stood at Rs 858.70 crore, consisting of fresh issue of Rs 225 crore (0.53 crore shares) and OFS worth Rs 633.70 crore (1.49 crore shares).
Pantomath Capital Advisors acted as the lead manager, while Link Intime India handled the IPO’s registry.
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