Quadrant Future Tek IPO, which was open for subscription from January 7 to January 9, has made its debut on the Indian bourses, BSE and NSE. The shares of the company were listed at a premium of 27.5%. On the BSE, they were listed at Rs 374, an increase of 29%, while on the NSE, the listing price was Rs 370, up by 27.5%.
Quadrant Future Tek IPO – Grey market buzz
Quadrant Future Tek IPO, a mainboard issue created significant interest in the grey market before its official listing. On a similar note, since the day 1 of the bidding to till now, in the unlisted market, the shares of the company has witnessed a fluctuation. Just hours before the debut, its shares were trading at a premium of Rs 120, projecting an estimated listing price of Rs 410, up by 41.38% over the upper end of the price band.
Quadrant Future Tek IPO – Subscription numbers
The IPO received an overwhelming response, being subscribed 195.96 times overall. Retail investors led the charge, with subscriptions at 256.46 times, followed by NII at 268.03 times and QIB at 139.77 times.
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Quadrant Future Tek IPO – Key details of the issue
Quadrant Future Tek’s IPO was a book-built issue amounting to Rs 290 crores, entirely fresh equity of 1 crore shares. This mainboard issue price band was set at Rs 275 to Rs 290 per share, with a minimum application size of 50 shares. Retail investors needed at least Rs 14,500 to participate, while the minimum investment for sNII was Rs 2,03,000 (14 lots), and for bNII, Rs 10,00,500 (69 lots).
The IPO allocation was finalised on January 10, 2025.
Ahead of the public subscription, the company raised Rs 130.50 crore from anchor investors on January 6. Sundae Capital Advisors acted as the book-running lead manager for the IPO, with Link Intime as the registrar on the issue.
About Quadrant Future Tek
Quadrant Future Tek, established in 2015, creates advanced train control and signaling systems for Indian Railways’ KAVACH project to improve passenger safety and train reliability. The company also makes specialty cables and has a facility with an Electron Beam Irradiation Centre.
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