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Quality Power confirms no deviation in IPO proceeds use, including Mehru Electrical acquisition
11-Aug-2026, 04:10
Quality Power Electrical Equipments Limited stated that there was no deviation or variation in the utilization of proceeds from its Initial Public Offering for the quarter ended June 30, 2026, according to a filing with the National Stock Exchange of India Limited and BSE Limited. The company, which raised Rs 858.696 crore on February 20, 2025, noted that the Audit Committee reviewed the utilization of funds, including those allocated for the acquisition of Mehru Electrical and Mechanical Engineers Private Limited, capital expenditure, issue-related expenses, and general corporate purposes, and that Brickwork Ratings India Private Limited serves as the monitoring agency.
Quality Power Electrical Equipments Limited stated that there was no deviation or variation in the utilization of proceeds from its Initial Public Offering for the quarter ended June 30, 2026, according to a filing with the National Stock Exchange of India Limited and BSE Limited. The company, which raised Rs 858.696 crore on February 20, 2025, noted that the Audit Committee reviewed the utilization of funds, including those allocated for the acquisition of Mehru Electrical and Mechanical Engineers Private Limited, capital expenditure, issue-related expenses, and general corporate purposes, and that Brickwork Ratings India Private Limited serves as the monitoring agency.