Quality Power IPO: The initial public offering (IPO) of Quality Power Limited has hit the Indian primary market today and will remain open until 5:00 PM on 18 February 2025. The energy company has declared a Quality Power IPO price band of ₹401 to ₹425 per equity share. With a market capitalization of ₹3,291.38 crore, the company aims to raise ₹858.70 crore from this mainboard IPO, a mix of fresh shares and offers for sale (OFS). Meanwhile, company shares are available for trade in the grey market. According to stock market observers, Quality Power shares are available at a premium of ₹27 in the grey market today.
By 3:33 PM on day 1 of bidding, the public issue had been subscribed 0.46 times, the retail portion had been booked 0.51 times, the NII segment had been filled 0.64 times, and the QIB portion had been booked 0.34 times.
10] Quality Power IPO review: Assigning a 'buy' tag to Quality Power IPO, Palak Devadiga, Research Analyst at StoxBox, said, "The company is valued at a PE ratio of 81.9x on the upper price band based on FY24 earnings, which is lower than its peers. Given its strong financial growth, diverse product portfolio and global customer base, the company is well-positioned to achieve sustained growth within the sector. Therefore, we recommend a SUBSCRIBE rating for medium to long-term investment."
Mehta Equities has also assigned a 'subscribe' tag to the book build issue, saying, "On valuation parse at the upper price band of ₹425/-, the issue is asking a Market Cap of ₹3291 cr/-. Based on annualized FY 2025 earnings and fully diluted post –IPO paid-up capital, the company is asking for a P/E of 30.76x, which appears reasonable compared to its listed industry peers. Given its recent strategic growth initiatives like the acquisition of Mehru Electricals, which would allow the company to expand its product range, especially in 500kV transformers, which could strengthen its position in the high voltage equipment market, we believe QPEEL is well-positioned to capitalize on India's evolving energy landscape. Hence, with all attributes, we recommend investors to "SUBSCRIBE" to the Quality Power Electrical Equipments Ltd IPO for a long-term perspective."
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