Quadrant Future Tek IPO, a mainboard issue is set to debut on the stock exchanges tomorrow, January 14. As the listing approaches, the company’s GMP saw a decline. However, GMP serves as an unofficial indicator of investor sentiment and not a guarantee of the final listing price
Quadrant Future Tek IPO – GMP trends ahead of listing
Quadrant Future Tek’s shares are trading at a premium of RS 140 in the grey market as of as per the latest update today, a significant drop from its GMP of Rs 190 on January 10, the day of share allotment.
At its peak, the IPO’s GMP touched Rs 210, showing investor enthusiasm initially. Despite the fall, the estimated listing price is Rs 430 per share, a 48.28% premium over the upper issue price of Rs 290 per share.
Quadrant Future IPO: Subscription numbers
The IPO received an overwhelming response from investors, being oversubscribed by 195.96 times. The breakdown of the subscription numbers across various segments paints as: the retail investors category was subscribed 256.46 times, while QIB potion received a subscription rate of 139.77 times.
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The NII portion was subscribed at a rate of 268.03 times.
Quadrant Future IPO: Key details
The Rs 290-crore IPO ran for subscription from January 7 to 9, offering shares within a price band of Rs 275 to Rs 290. Unlike many IPOs, this one was entirely a fresh issue, with no Offer for Sale (OFS) component. The company prior to the opening of this issue raised Rs 130 crore from anchor investors.
About Quadrant Future Tek
Quadrant Future Tek specialises in developing advanced train control and signaling systems, particularly for the Indian Railways’ KAVACH project. The company’s focus on safety and reliability aligns with the growing demand for innovative rail technologies in India.
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