New Delhi: Quadrant Future Tek IPO is all set to open for public subscription on January 7, 2025 (Monday) and close on 9th January. Quadrant is engaged in developing new-generation train control and signalling systems under the KAVACH project of the Indian Railways. Ahead of the IPO opening for public subscription, the company conformed raising over Rs 130 crore from anchor investors.
According to the BSE website, Investments Shubhkam Venture (I) Pvt Ltd, Ashoka WhiteOak ICAV, LIC MF, Bank of India MF, Capri Global Capital, Citigroup Global Markets Mauritius, WhiteOak Capital Mutual Fund (MF), and Kotak MF, Bengal Finance among others, were the buyers. Quadrant Future Tek allotted 45 lakh equity shares to 22 entities at Rs 290 per equity share.
Quadrant Future Tek IPO GMP, price
Quadrant Future Tek IPO price band is fixed in the range of Rs 275 to Rs 290 per share. The retail investors are required to bid for a minimum lot size of 50 shares for which an investor has to shell out Rs 14,500. The investors applying in the NII portion are mandated to bid for a minimum 14 lots and bNII part investors are required to apply for a minimum 69 lots.
Quadrant Future Tek IPO GMP stood at Rs 210 on January 7 morning. With the price band of Rs 290, the shares are expected to list at Rs 500 apiece, which indicated a gain around 72 per cent.
Quadrant Future Tek IPO is a book built issue of Rs 290 crore with no offer of sale component. The company in its IPO papers informed that the net proceeds will be used to fund the long-term working capital requirements. The company will use the proceeds for capital expenditures on the development of the electronic interlocking system, debt repayment and the balance for general corporate purposes.
Quadrant Future Tek IPO allotment, listing dates
Quadrant Future Tek IPO Allotment expected on January 10, 2025
Refunds process likely to begin on January 13
The shares are likely to be credited to the demat accounts of successful applicants on January 13
The shares of the company will be listed on the BSE and the NSE with a tentative date January 14.
Sundae Capital Advisors is the book-running lead manager, and Link Intime India is the registrar of the issue.
Quadrant Future Tek’s initial public offering (IPO) opens on January 7, 2025 and closed on 9th January. The company, involved in developing train control systems for the Indian Railways’ KAVACH project, aims to raise Rs 290 crore. The price band is set at Rs 275-290 per share, with allotment expected on 10th January and listing on 14th January. Quadrant Future Tek IPO GMP is going very strong. The IPO received strong anchor investor interest, raising over Rs 130 crore beforehand. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
