The initial public offering of Quality Power Electrical Equipments Ltd. was subscribed 1.29 times on its third and last day of bidding on Tuesday. According to NSE’s consolidated data, the Rs 859-crore IPO received bids for 1,43,31,330 shares against 1,11,12,530 on offer.

Non-institutional investors subscribed 1.45 times the offer, while Qualified Institutional Buyers (QIBs) booked the issue 1.03 times. The portion for Retail Individual Investors (RIIs) was subscribed 1.83 times.

The IPO of Quality Power Electrical Equipments was fully subscribed on its final day after a tepid response on the first two days during which the issue was booked 62% and 83%, respectively.

The energy transmission and power technology company had set a price band of Rs 401 to Rs 425 per share, valuing it at Rs 3,300 crore at the upper end. Investors can bid for a minimum of 26 shares and multiples thereof.

Quality Power plans to use the IPO proceeds for several purposes; acquiring Mehru Electrical and Mechanical Engineers Pvt., funding capital expenditure for plant and machinery, pursuing inorganic growth through acquisitions and strategic initiatives, and general corporate purposes.

The allotment for the Quality Power IPO will be finalised on Wednesday, February 19 and the company will list on the BSE and the National Stock Exchange on Friday, February 21.

Investors can check the Quality Power Electrical Equipments IPO allotment status on the official website of the registrar for the IPO, Link Intime India and on BSE/NSE website.

How To Check Quality Power IPO Allotment Status On Link Intime India

  • Visit the IPO Status page on the Link Intime India website here.

  • From the company dropdown menu, choose ‘Quality Power Electrical Equipments Ltd.’

  • Select the input option as PAN, Application number, Account No./IFSC Code or DP/Client ID.

  • Enter your PAN, Application number, Account No./IFSC Code or DP/Client ID details based on the option selected above.

  • Click the Submit option to check your IPO allotment details.

How To Check Quality Power Electrical Equipments IPO Allotment Status On NSE Website

  • Visit the IPO allotment page on the NSE website here: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

  • Select ‘Equity & SME IPO bid details’.

  • Select the company symbol ‘QPOWER’ in the dropdown list.

  • Enter PAN details and Application Number.

  • Click on the Submit button to verify your share allotment status.

How To Check Quality Power IPO Allotment Status On BSE Website

  • Go to the official BSE website at https://www.bseindia.com/investors/appli_check.aspx

  • Select the issue type as ‘Equity.’

  • Choose ‘Quality Power Electrical Equipments Limited‘ from the dropdown menu.

  • Enter your application number or PAN (Permanent Account Number).

  • Complete the ‘Captcha’ for verification.

  • Click on the ‘Search’ button to view your allotment status.

Quality Power IPO GMP Today

The latest grey market premium of the Quality Power IPO is Rs 0 as of 6:57 a.m. on February 19, according to InvestorGain. This implies shares of the company will likely list at Rs 425 apiece, indicating a 0% premium to the upper end of the price band.

Unlisted shares of Quality Power Electrical Equipments Limited were trading as high as Rs 460 apiece in the grey market on Feb. 11 before declining sharply to Rs 425 on Feb. 17.

It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.The allotment for the Quality Power IPO will be finalised today. Shares of the company will list on the BSE and NSE on Friday.  Read MoreIPOs, Markets, Trending 

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