fbpx

Quality Power IPO Alert: Files Draft Papers with SEBI to Raise ₹225 Crore!

Quality Power Electrical Equipments, which makes energy transmission equipment and power technologies, has submitted its draft papers to the Securities and Exchange Board of India (SEBI) to raise money through an initial public offering (IPO). The IPO includes a new issue of shares worth up to ₹225 crore and an offer to sell up to 1.2 crore existing shares, according to the draft prospectus filed on Monday.

The offer for sale (OFS) will see promoter Chitra Pandyan sell some of her shares in the company. The Pandyan family owns all of Quality Power.

The funds from the new shares will be used to buy Mehru Electrical and Mechanical Engineers Pvt Ltd, invest in new plant and machinery, and support other acquisitions and business growth. The company will also use some of the money for general corporate needs.

Quality Power provides high-voltage electrical equipment and solutions for power generation, transmission, distribution, and automation. It is known for its critical high-voltage equipment used in energy transition from renewable sources to traditional power grids.

For the financial year ending March 31, 2024, the company’s revenue was ₹300 crore, and its profit was ₹55.5 crore.

Pantomath Capital Advisors Pvt Ltd is the lead manager for the IPO, and Link Intime India is the registrar. The company’s shares will be listed on the BSE and NSE.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

We will be happy to hear your thoughts

      Leave a reply

      Share Price India News
      Logo