Latest news with #QualityPower
Business Standard
6 days ago
- Business
- Business Standard
QPOWER launches state of-the-art Global Coil Factory in Sangli
Quality Power Electrical Equipments announced the launch of its state of-the-art Global Coil Factory in Kupwad MIDC, Sangli. This milestone is consistent with the strategic priorities communicated during the company's Board meeting and quarterly earnings update. The event marks a significant step forward in Quality Power's strategic expansion to meet the growing global demand for high-voltage reactors and coil-based components for HVDC, STATCOM, and FACTS systems. The new facility is envisioned to be one of the world's largest production plants for air-core and oil filled reactors, equipped with 44 advanced winding lines and a world-class high-voltage testing laboratory. As part of the company's commitment to sustainability, the factory is being constructed in line with the Indian Green Building Council (IGBC) Platinum certification, positioning it among the most environmentally responsible manufacturing hubs globally.
Business Upturn
6 days ago
- Business
- Business Upturn
Quality Power shares jump 4% on launch of Global Coil Factory in Sangli
Shares of Quality Power Electrical Equipments surged 4% after the company announced the launch of its state-of-the-art Global Coil Factory in Kupwad MIDC, Sangli, Maharashtra. This marks a key milestone in the company's growth strategy, as discussed in its recent board meeting and quarterly earnings update. The facility is positioned to become one of the world's largest for air-core and oil-filled reactor manufacturing, catering to growing global demand for HVDC, STATCOM, and FACTS system components. Equipped with 44 high-end winding lines and a world-class high-voltage testing lab, the plant underlines Quality Power's focus on innovation and quality. Aligned with sustainability goals, the factory is being built to meet IGBC Platinum certification standards—making it one of the greenest manufacturing sites globally. Execution of the project is in collaboration with top industry names including Arwade Infrastructure, Kirby Building Systems, and Electromech. In line with its reverse integration plans, the company has already placed orders for advanced cable manufacturing machinery. Shares of Quality Power opened at ₹617.05 and touched an intraday high of ₹638.70, also marking a new 52-week high. The stock saw a low of ₹610.00 during the session. Its 52-week range now stands between ₹267.80 and ₹638.70. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
&w=3840&q=100)
Business Standard
23-04-2025
- Business
- Business Standard
Ather Energy IPO to end 2-months silence in mainboard segment; details here
Ather Energy IPO: After a hiatus of nearly two months, primary market investors are set to witness the launch of a mainboard initial public offering (IPO) as Ather Energy is set to open for public subscription on Monday, April 28, 2025. Notably, the Quality Power was the last mainboard company to go public, listing on the bourses on February 24, 2025. At the upper end, the Tiger Global-backed company seeks to raise nearly ₹2,980.76 crore from the public issue, which is a combination of fresh issue and offer for sale (OFS) of equity shares. As investors await the opening of the public offering, here are the key details of Ather Energy IPO as outlined in its Red Herring Prospectus (RHP): Ather Energy IPO structure The public offering comprises a fresh issue of 81.80 million equity shares, and an offer for sale with promoters and shareholders divesting up to 11.05 million equity shares. Tarun Sanjay Mehta and Swapnil Babanlal Jain are from the promoters group who are participating in the OFS. Caladium Investment Pte, National Investment and Infrastructure Fund II, Internet Fund III Pte. Ltd. are among other shareholders who are taking part in the OFS. Ather Energy has reserved not more than 10 per cent for the retail investors, not less than 75 per cent for the Qualified institutional buyers (QIBs), and not more than 15 per cent for the High net worth individuals (HNIs). Ather Energy IPO price band, lot size Ather Energy has set the price band at ₹304 - ₹321 per share, and lot size of 46 shares. Accordingly, the investors can bid for a minimum of 46 shares and in multiples thereof. At the upper price band, a retail investor will require a minimum of ₹14,766 to bid for one lot of 46 shares, and ₹1,91,958 to bid a maximum of 13 lots or 598 shares. Ather Energy IPO grey market premium (GMP) The unlisted shares of Ather Energy were trading flat at ₹341 apiece in the grey market ahead of the opening of the public offering, according to sources tracking unofficial market activities. Thus, the grey market premium (GMP) for Ather Energy IPO stands at ₹20 or 6 per cent as of Wednesday, April 23. Ather Energy IPO timeline The bidding for anchor investors is scheduled to take place on Friday, April 25, 2025. The subscription window to bid for the Ather Energy IPO will remain available tentatively till Wednesday, April 30, 2025. Following the closing of the subscription window, the basis of allotment of the Ather Energy IPO shares is likely to be finalised on Friday, May 2, 2025. Shares of Ather Energy are expected to list on the NSE and BSE tentatively on Tuesday, May 6, 2025. Ather Energy IPO objective Ather Energy will not receive any proceeds from the OFS. "Each of the Selling Shareholders shall be entitled to its respective portion of the proceeds of the Offer for Sale after deducting its proportion of the Offer expenses and relevant taxes thereon," said the company in its RHP. Ather Energy, however, proposes to utilise the net proceeds from the fresh issue for the capital expenditure to be incurred for establishment of an E2W factory in Maharashtra, India. The company will further use the proceeds for repayment/ pre-payment, in full or part, of certain borrowings availed, investment in research and development, expenditure towards marketing initiatives, and general corporate purposes. Ather Energy IPO registrar, lead managers Link Intime India is the registrar for the public offering. The book-running lead managers include Axis Capital, HSBC Securities & Capital Markets Pvt Ltd, JM Financial, and Nomura Financial Advisory and Securities (India). About Ather Energy Ather Energy is a pioneer in the Indian electric two-wheeler (E2W) market, according to the CRISIL Report. The company is a pure-play EV company that sells E2Ws and the associated product ecosystem, comprised of its software, charging infrastructure and smart accessories, all of which are conceptualised and designed by it in India. According to the CRISIL Report, Ather Energy was the third and fourth largest player by volume of E2W sales in Fiscal Year 2024 and the nine months ended December 31, 2024, respectively. Ather Energy financial snapshot In the financial year 2023-24 (FY24), the company's loss widened to ₹1,059.7 crore from ₹864.5 crore reported in FY23. For the nine-month period ended on December 31, 2024, the company reported a loss of ₹577.90 crore. The company's revenue dropped 1.5 per cent year-on-year (y-o-y) to ₹1,753.8 crore in FY24 from ₹1,780.9 crore reported a year ago. For the nine-month period ended on December 31, 2024, the company's revenue stood at ₹1,578.90 crore. Ather Energy's total expenditure also rose to ₹2,674.20 crore in FY24, up 0.3 per cent from ₹2,666.3 crore reported in FY23. It stood at ₹2,195.3 crore for the nine-month period ended on December 31, 2024.
