Quality Power Electrical IPO - Listing Performance & Details

Quality Power Electrical Equipments Limited was incorporated on September 20, 2001 in Sangli, Maharashtra, and later converted to a public limited company. It works in the power technology and energy transition equipment sector.

The company manufactures high-voltage electrical equipment and solutions for grid connectivity and energy transition, specializing in power products for generation, transmission, distribution, and automation, along with equipment for renewable energy and data centre applications. It is among a small number of global manufacturers of critical equipment for High Voltage Direct Current (HVDC) and Flexible AC Transmission Systems (FACTS) networks. The company relies significantly on export markets, which contributed 80.68% of revenue from operations in FY24. As of September 30, 2024, it served 143 customers. The promoters are Thalavaidurai Pandyan, Chitra Pandyan, and Bharanidharan Pandyan.

Revenue from operations rose from Rs 252.25 crore in FY23 to Rs 300.60 crore in FY24, while net profit rose from Rs 39.89 crore to Rs 55.47 crore over the same period. The IPO was a mainboard, book-built issue comprising a fresh issue aggregating to Rs 225 crore and an offer for sale of 14.91 crore equity shares by promoter Chitra Pandyan, at a price band of Rs 401 to Rs 425 per share, listed on the BSE and NSE. As per the RHP, net proceeds from the fresh issue were proposed to be used for the purchase consideration related to the acquisition of Mehru Electrical and Mechanical Engineers (about Rs 117 crore), capital expenditure for purchase of plant and machinery (about Rs 27.22 crore), and the balance for inorganic growth through unidentified acquisitions and general corporate purposes.