Monitoring Agency Report for quarter ended September 30, 2026: no deviation from IPO objects
Quality Power Electrical Equipments has shared the Seventh Monitoring Agency Report for the quarter ended September 30, 2026.
By ScoutQuest · · 2 min read
- IPO size
- ₹858.696 crore
- Fresh issue / Offer for sale
- fresh issue ₹224.999 crore and offer for sale ₹633.696 crore
- Deviation from objects of the issue
- No. Range of deviation: Not Applicable
What was shared
Quality Power Electrical Equipments Ltd has submitted to the stock exchanges the Seventh Monitoring Agency Report for the quarter ended September 30, 2026. The report has been prepared by Brickwork Ratings India Private Limited, which is the monitoring agency for the company's Initial Public Offer (IPO).
What a monitoring agency does
A monitoring agency independently tracks, quarter after quarter, whether the money raised in a public issue is being used for the purposes stated in the offer document. Its report is a check on the use of IPO proceeds, not a comment on the company's sales, profit or share price.
The IPO in numbers
- Fresh Issue: 5294100 equity shares at ₹425 each, amounting to ₹224.999 crore
- Offer for Sale: 14910500 equity shares at ₹425 each, amounting to ₹633.696 crore
- Total: 20204600 equity shares and ₹858.696 crore
- Issue size disclosed: ₹858.696 crore
The issue ran from Feb 14, 2025 to Feb 18, 2025. Fresh issue shares are newly issued by the company, while offer for sale shares are existing shares sold by shareholders.
Deviation status in the report
- Deviation from the objects: No
- Range of Deviation: Not Applicable
In simple words, the agency's report records that the use of proceeds is in line with the stated objects for this quarter.
Company background in the report
The promoters are listed as Thalavaidurai Pandyan, Chitra Pandyan, Bharaniadharan Pandyan and Pandyan Family Trust. The industry is described as the Energy Transition Equipment and Power Technologies Industry.
How to read this update
This is a routine quarterly update in the sequence of monitoring agency reports. Its value to a shareholder is that it confirms, on the agency's reading, that IPO money is being applied as stated. Bigger questions about earnings, order book and margins are separate from this document.
Also from Quality Power Electrical Equipments
Q2 FY27 call: two plants start manufacturing, order book crosses INR 2,000 crore, QIP targeted for November
7 Nov 2026
Nominee Director of joint venture resigns; also ceases to be Senior Management Personnel
6 Nov 2026
Quality Power Electrical management discussed M&A strategy, technology-led growth, US expansion plans and a QIP fundraise amid rising working capital needs
4 Nov 2026
More numbers
- Total issue size858.696
- Fresh Issue equity shares5294100
- Offer for Sale equity shares14910500
- Total number of securities20204600
- Price per equity share425
- Fresh Issue amount received224.999
- Offer for Sale amount received633.696
- Total amount received858.696
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