Quadrant Future Tek IPO: Quadrant Future Tek, which is working towards strengthening the security cover of Indian Railways, has got a great listing of its IPO on the stock exchange. As against the issue price of Rs 290, the share of Quadrant Future Tek has been listed at Rs 374 with a jump of 30.71 percent. Investors who got allotment in the IPO have made a profit of Rs 84 per share.  

Quadrant Future Tek's IPO opened at Rs 374 on BSE. After this, the stock reached Rs 390. But currently the stock is trading at Rs 381.90 with a jump of 2.11 percent. The IPO opened at Rs 370 on the National Stock Exchange and after making a high of Rs 389.90, the stock is trading at Rs 382.70 with a gain of 3.42 percent. 

The company raised 290 crores 

Quadrant Future Tek's IPO was open for investment from 7 to 9 January. The company has raised Rs 290 crore through the IPO. The entire money in the IPO was raised by issuing completely new shares and the company had fixed the price band of Rs 275 - 290 per share for a share with a face value of Rs 10. 

The IPO was subscribed a total of 196 times

Quadrant Future Tek's IPO received a great response from investors. This IPO closed with a total subscription of 196 times. Retail investors participated enthusiastically in this IPO. The reserve quota for retail investors was subscribed 256 times, the reserve quota for institutional investors was subscribed 139.77 times and the quota for non-institutional investors was subscribed 268 times. A total of Rs 31,256 crore worth of applications were received for this IPO of Rs 290 crore. 

what the company does

Quadrant Future Tech Limited, formed in September 2015, is developing new generation train control and signalling systems under the Kavach project of Indian Railways to make rail travel safer. The company also has a specialised cable manufacturing facility along with an Electron Beam Irradiation Centre.