Quadrant Future Tek IPO has opened for subscription from Tuesday (7 January 2025) i.e. today. It is getting tremendous response as soon as the subscription opens. This IPO has been fully filled in a short time. Interested investors can bid for it till Thursday (9 January 2025). The company is raising ₹ 290 crore through this issue. This will be a completely fresh issue, under which 1 crore new shares will be issued.

The company has raised ₹130.5 crore from 15 institutional investors on Monday (January 6, 2024), a day before the IPO opens. Foreign and domestic institutions that participated in the anchor bidding included Citigroup Global Markets Mauritius Private Limited, Capri Global Capital Limited, Shubhkam Ventures, Whitestock MF, Whitestock, LIC MF, Kotak MF, Bank of India MF, Bengal Finance and Investment Private Limited, PGIM India and Sundaram Alternatives, among others.

Price Band
The price band for this IPO has been fixed at ₹275 - ₹290 per equity share. Investors can bid for a minimum of 50 equity shares and in multiples of 50 thereafter.

Purpose of IPO
The funds raised from the issue will be used for long term capital requirements for the cable division, capital expenditure for electronic interlocking systems, repayment of working capital term loans and general corporate purposes.

What is the GMP
Quadrant Future Tek shares are commanding a strong premium of ₹210 in the grey market, which is 72% higher than the issue price.

Allotment and Listing
The share allotment of the IPO is expected to be finalised on Friday (January 10, 2024). After this, the stock can make its debut on BSE and NSE on January 14, 2024.

Lead Manager and Registrar
Sunde Capital Advisors is the book running lead manager of the Quadrant Future Tech IPO, while Link Intime India Private Limited has been assigned the responsibility of registrar. Should you subscribe SBI Securities Brokerage firm SBI Securities has given a 'Subscribe' rating to the issue. The firm said that according to industry forecasts, the Indian specialty cable and train control system market will see strong growth. It is estimated to grow at a CAGR of 9.8% to 12.7% between 2024 and 2030. Further, signing of MoU with RailTel Corp for providing Kavach and recent Rs 978.6 crore order from Chittaranjan Locomotive Works has strengthened the company's position. K.R. Choksey Brokerage firm K.R. Choksey has also given a 'Subscribe' rating to the issue. With significant infrastructure developments and government initiatives such as Rs 557 crore funding for Kavach project, Quadrant is well positioned in its industry, the brokerage said. BP Wealth BP Wealth has also recommended 'Subscribe' to the IPO. The issue is valued at a P/E ratio of 59.1 times at the upper price band based on FY24 earnings, which appears reasonable, the brokerage said. What does the company do Quadrant Future Tech is a research-oriented organization engaged in developing next-generation train control and signaling systems under the Kavach project of Indian Railways. These systems provide better safety and reliability to rail passengers. The company operates a specialty cable manufacturing facility equipped with an electron beam irradiation center.