The Indian Bank has been applied through Indian Bank’s small cap MF, Indian Bank Manufacturing and Infrastructure MF, and India’s Flexcap MF scheme, the electrical equipment provider said in its exchange application on Thursday. They collectively netted a fifth of the total anchor portion.
Pantomath Capital Advisors Pvt. The only book is running lead manager and Link Intime India is the registrar for the IPO.
The company will begin its first public offering on Friday, raising up to Rs 859. The company has set a price range of 401-425 rupees per share in a three-day IPO. The offering consists of new issues with aggregated stocks up to Rs 225 and offers to sell 1.5 Kroll shares worth 634 Kroll at the top of the price range.
The offer, which ends Tuesday, will be listed on the BSE and the National Stock Exchange.
The company is Mehru Electrical and Mechanical Engineers Pvt. financing capital expenditure requirements for purchasing plants and machinery using revenue from offers. The company also uses funds for inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.
Quality Power is engaged in critical energy transition equipment and power supply technology up to 765kV, providing high voltage electrical equipment and solutions for electrical grid connections and energy transitions.
The company specializes in providing power products and solutions across the power generation, transmission, distribution and automation sectors.
