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Quality Power IPO: Unlisted shares of Quality Power Electrical Equipments Ltd are currently trading at zero GMP as of 5:00 pm on February 17, suggesting negative listing on February 21, the tentative listing date.
Quality Power IPO.
Quality Power IPO: The initial public offering of Quality Power Electrical Equipments Ltd, which opened for public subscription on Friday, has so far received a subdued investor interest. Till 5:00 pm on the second day of bidding on Monday, the Rs 858.70-crore IPO received a 0.83 times subscription garnering bids for 92,29,168 shares as against 1,11,12,530 shares on offer.
So far, the retail category has been subscribed by 1.07 times subscription, while the NII has got a 1.1 times subscription. The QIB category received a 0.62 times subscription.
The three-day IPO will be closed on Tuesday, February 18. The price band of the IPO has been fixed at Rs 401 to Rs 425 apiece.
Quality Power IPO GMP
According to market observers, unlisted shares of Quality Power Electrical Equipments Ltd are currently trading at zero GMP as of 5:00 pm on February 17, suggesting negative listing on February 21, the tentative listing date.
In the morning, the shares were trading at Rs 430 apiece in the grey market, which was just 1.18 per cent premium over the upper IPO price of Rs 425.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Quality Power IPO Key Dates
The Quality Power IPO remains open for public subscription between February 14 and February 18. Its allotment will be finalised on February 19, while its listing will take place on both BSE and NSE on February 21.
Quality Power IPO Price & Lot Size
Its price band has been fixed at Rs 401 to Rs 425 per share. For retail investors, the minimum lot size for an application is 26. So, the minimum amount of investment required by retail investors is Rs 10,426.
The minimum lot size investment for small NII is 19 lots (494 shares), amounting to Rs 2,09,950; and for big NII, it is 91 lots (2,366 shares), amounting to Rs 10,05,550.
Hexaware Technologies IPO Quota
The company has reserved half of the issue size for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Hexaware Technologies IPO: More Details
At the upper-end of the price band, the company has been valued at over Rs 43,000 crore.
The initial share-sale of the Mumbai headquartered company is a complete Offer-for-Sale (OFS) of Rs 8,750 crore by promoter CA Magnum Holdings, part of Carlyle Group.
At present, CA Magnum Holdings holds 95.03 per cent stake in the IT company.
Since the entire issue is an OFS, all the proceeds from the IPO will go directly to the selling shareholder, rather than to the company.
Ahead of the IPO, Hexaware Technologies Limited raised Rs. 2,598 crore from anchor investors.
Hexaware Technologies is a global digital and technology services company with artificial intelligence (AI) at its core and having a diverse range of customers, including 31 of the Fortune 500 organizations. It serves customers across the Americas, Europe and Asia-Pacific (including India and Middle East).
For the nine months ended September 2024, the company’s net profit stood at Rs 853.3 crore and revenues at Rs 8,820 crore.
Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, JP Morgan India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd and IIFL Securities Ltd are the book-running lead managers responsible for managing the company’s IPO.
