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Quality Power IPO is a book-built issue of Rs 858.70 crores. It combines a fresh issue of 0.53 crore shares aggregating Rs 225.00 crores and an offer for sale of 1.49 crore shares aggregating Rs 633.70 crores.
The IPO bidding opened for subscription on February 14, 2025, and will close on February 18, 2025. The price band for the IPO is set at ₹401 to ₹425 per share, and the minimum lot size for an application is 26 shares.
Company Summary
Incorporated in 2001, Quality Power Electrical Equipments Limited is engaged in the business of energy transition equipment and power technologies.
The company provides high-voltage electrical equipment and solutions for grid connectivity and energy transition, specializing in power products across generation, transmission, distribution, and automation sectors.
The company manufactures critical high-voltage equipment for High Voltage Direct Current (HVDC) and Flexible AC Transmission Systems (FACTS) networks, enabling energy transition from renewable sources to power grids.
With over 20 years of experience, the company offers reactors, transformers, converters, and grid interconnection solutions globally.
The company operates manufacturing facilities in Sangli, Maharashtra, and Aluva, Kerala. In 2011, it acquired 51% of Endoks, a Turkey-based subsidiary with design, assembly, and project management capabilities.
As of March 31, 2024, the company had 210 customers, including power utilities, power industries, and renewable energy entities.
As of March 31, 2024, the company has 163 full-time employees and 372 contractual workers.
Product Portfolio:
Power Products: Reactors, Line Traps, Transformers, Instrument Transformers, Line Tuners, Metal-Enclosed Capacitor Banks, and Composites.
Power Quality Systems: Static VAR compensators, STATCOMs, Harmonic Filters, Capacitor Banks, Sand Hunt Reactors.
Company Strengths
- Global energy transition and power technology player catering to diverse industry segments and poised to benefit from the global shift towards de-carbonization and adoption of renewable energy.
- Demonstrated track record of growth and financial performance.
- Diversified customer base of global businesses with long-lasting relationships.
- Comprehensive product portfolio in the energy transition equipment and power technologies sector in India and abroad with high trade barriers.
- Demonstrated record of strategic acquisitions along with enhanced order book contributing to growth.
- Research and development capabilities to offer future-ready solutions.
- Management team with domain experience.
Company Financials
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 399.64 | 358.88 | 312.24 | 252.86 |
| Revenue | 182.72 | 331.4 | 273.55 | 211.73 |
| Profit After Tax | 50.08 | 55.47 | 39.89 | 42.23 |
| Net Worth | 238.63 | 190.33 | 175.66 | 160.29 |
| Reserves and Surplus | 150.43 | 162.56 | 153.86 | 149.76 |
| Total Borrowing | 25.55 | 38.28 | 10.61 | 11.52 |
| Amount in ₹ Crore | ||||
Objects of the Issue
The Net Proceeds of the Fresh Issue are proposed to be utilized in the following manner:
- Payment of the purchase consideration for the acquisition of Mehru Electrical and Mechanical Engineers Private Limited
- Funding capital expenditure requirements of the Company for the purchase of plant and machinery
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives
- General Corporate Purposes.
Promoters of the Company
Thalavaidurai Pandyan, Chitra Pandyan, Bharanidharan Pandyan, and Pandyan Family Trust are the Promoters of the Company. The Promoters, together hold 72,149,960 Equity Shares, representing 99.99% of the issued, subscribed, and paid-up equity share capital of our Company.
IPO details
| IPO Date | February 14, 2025 to February 18, 2025 |
| Listing Date | Friday, Feb 21, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹401 to ₹425 per share |
| Lot Size | 26 shares |
| Total Issue Size | 2,02,04,618 shares (aggregating up to ₹858.70 Cr) |
| Fresh Issue | 52,94,118 shares (aggregating up to ₹225.00 Cr) |
| Offer for Sale | 1,49,10,500 shares of ₹10 (aggregating up to ₹633.70 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot Allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 26 | ₹11,050 |
| Retail (Max) | 18 | 468 | ₹1,98,900 |
| S-HNI (Min) | 19 | 494 | ₹2,09,950 |
| S-HNI (Max) | 90 | 2,340 | ₹9,94,500 |
| B-HNI (Min) | 91 | 2,366 | ₹10,05,550 |
Allotment Schedule
| Allotment | Wed, Feb 19, 2025 |
| Initiation of Refunds | Thu, Feb 20, 2025 |
| The credit of Shares to Demat | Thu, Feb 20, 2025 |
| Tentative Listing Date | Fri, Feb 21, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 18, 2025 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not less than 10% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
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