Kolkata: Till the evening of February 17, the second day of the bidding process for Quality Power IPO, the subscription status recorded a subscription of 0.83 times — the issue garnered application of 1.08 times in the retail segment, 0.62 times in QIB and 1.1 times in the NII category.

However, the Quality Power IPO GMP on February 16 and 17 — the first two days of the bidding process — did not make happy reading for the management. The GMP dipped to Rs 0 and stayed at that level on these two days, indicating no listing gain or loss.

Quality Power IPO has been designed to raise Rs 858.70 crores from the market. It is a combination of fresh shares numbering 0.53 crore that aggregate to Rs 225.00 crores and an OFS (offer for sale) part of 1.49 crore shares that will add up o Rs 633.70 crores. While Rs 225 crore will flow into the company, Rs 633.70 crores will accrue to the promoters who are diluting their holdings. But it must be mentioned that the Maharashtra-based energy transition equipment and power company raised Rs 386.41 crore from 21 anchor investors.

Quality Power IPO GMP

Quality Power IPO GMP stood at Rs 0 on the morning of February 18, the last day of bidding. The GMP suffered a dramatic drop from Rs 135 on February 8 to Rs 0 on February 17. In fact, Grey market Premium dropped to zero on the second day of the bidding process and has not moved to the positive territory since. It was at rs 5 on the first day of bidding. However, it must be remembered that GMP is an unofficial indicator that changes with time and does not necessarily guarantee a listing gain or loss, no matter whatever the figure.

Quality Power IPO allocation, price, lot size

Quality Power IPO share allotment will take place on Wednesday, February 19. The date of refund of application money is February 20.The date of listing for Quality Power IPO is February 21. The price band has been set at Rs 401-425. The minimum lot size for a retail investor is 26 which will need an application money of Rs 11,050.