The initial public offering (IPO) of Quality Power Electrical, which opened for public bidding on February 14, saw an overall subscription of 90% by 11:30 AM on the final day of bidding, Tuesday. The company aims to raise Rs 858.70 crore through the IPO, which includes a fresh issue of Rs 225 crore and an offer for sale (OFS) of 1.49 crore shares.
The retail portion of the issue was subscribed 1.33 times, while the non-institutional investors category saw a subscription of 1.18 times on the final day. Meanwhile, the qualified institutional buyers had subscribed 62% of their allotted portion.
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