New Delhi, Feb. 24 -- Quality Power Electrical Equipments' share price had a lackluster debut on Dalal Street today, February 24, listing at a 1.17% premium to the IPO price at Rs.430 apiece on the NSE, compared to the issue price of Rs.425. On the BSE, it was listed at a 1.66% premium at Rs.432 apiece.

After a muted debut on the exchanges, the stock failed to sustain its initial listing gains, tumbling 7.7% to Rs.396.75 apiece from the listing price. The weak market debut was attributed to the modest response to its IPO, which received subscription rate of 1.29 times during its bidding period, which opened from February 14 and February 18.

Following the stock's weak entry, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, advi...