Quadrant Future Tek IPO subscription status: The IPO of Quadrant Future Tech, a train control and signaling system maker, is getting a strong response from investors. The issue has been subscribed 48.99 times by the second day of subscription. It has received bids for a total of 28.41 crore shares, while there are 57.99 lakh shares on offer. The company plans to raise Rs 290 crore. The closing of the IPO will be on January 9. After the closing of the IPO, the allotment of shares will be final on January 10 and the listing in the stock market will take place on January 14, 2025.
Quadrant Future Tek IPO: Categorywise subscription
Qualified Institutional Buyers (QIB) – 0.46x
Non Institutional Investors (NII) – 87.22 times
Retail Investors – 137.21 times
Total – 48.99 times
(08 Jan 2025 | 05:00:00 PM)
Quadrant Future Tek IPO का GMP
Shares of Quadrant Future Tech are trading at a premium of Rs 210 in the gray market today. Accordingly, the company’s shares are likely to be listed at a price of Rs 500. If this happens then investors will get a huge profit of 72.41 percent. However, keep in mind that the situation on the gray market is constantly changing.
About Quadrant Future Tech IPO
The price band for Quadrant Future Tek IPO is Rs 275-290 per share and the lot size is 50 shares. Only Rs 290 crore worth of new shares are being issued in the IPO. 75 percent of the issue is reserved for qualified institutional buyers, 10 percent for retail investors and 15 percent for non-institutional investors. The merchant banker for Quadrant Future Tek IPO is Sunday Capital Advisors.
Punjab-based Quadrant Future Tek wants to use Rs 149.7 crore of the funds raised from its public issue for its long-term working capital needs. Apart from this, Rs 24.4 crore will be used for the development of electronic interlocking system, Rs 23.6 crore will be used to repay the loan and the remaining money will be used for general corporate purposes.
Quadrant Future Tek’s business
Quadrant Future Tech is a research oriented company. It develops new generation train control and signaling systems under the ‘Kavach’ project of Indian Railways. The company also has a specialty cable manufacturing facility along with an electron beam irradiation centre. Specialty cables are used in railway rolling stock and naval (defense) industry.
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