India's Quality Power falls after listing at small premium

Quality Power Electrical Equipments

24/02/2025 06:19

** India's Quality Power Electrical Equipments  QUAY.NS 
falls ~ 5% after making subdued debut
    ** QUAY shares opened at 430 rupees, a 1.2% premium to the
IPO price, before giving up listing gains
    ** Power equipment maker's IPO consisted of fresh issue of
shares worth 2.25 billion rupees ($25.96 million), offer for
sale of up to 14.9 mln shares
    ** QUAY IPO was subscribed 1.3x
    ** Muted listing is justified in the current market scenario
witnessing selling pressure in the broader market - Prashanth
Tapse, analyst at Mehta Equities
    ** Benchmark Nifty 50 index  .NSEI  is down 1%, while
small-cap  .NIFSMCP100  is down 0.9% and mid-cap  .NIFMDCP  down
1.2%


($1 = 86.6850 Indian rupees)

 (Reporting by Sethuraman NR in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))