Quadrant Future Tek IPO Opens on January 7: Key Dates, Price Band, GMP and More Details

Quadrant Future Tek IPO: The initial public offering (IPO) of Quadrant Future Tek Limited will open on Tuesday, January 7, 2025, for subscription. The company aims to raise Rs 290 crore through the fresh issue of 1 crore shares. The book-built issue is entirely a fresh issue with no offer-for-sale (OFS) component. The price band for Quadrant Future Tek IPO has been fixed at Rs 275-290 per share, at the face of Rs 10 per share.

Quadrant Future Tek IPO key dates

Quadrant Future Tek IPO will open for public bidding on January 7 and close on Thursday, January 9, 2025. The allotment of shares is expected to be finalized on January 10. The company’s shares are scheduled to list on January 14 on both the NSE and BSE platforms.

Quadrant Future Tek IPO lot size

Investors can bid for a minimum of 50 shares and in multiples thereof. Retail investors need to invest a minimum of Rs 14,500. For small non-institutional investors, the minimum lot size is 14 lots or 700 shares, which totals Rs 2.03 lakh. Meanwhile, big non-institutional investors must invest in at least 69 lots or 3,450 shares, amounting to Rs 10 lakh.

A minimum of 75 per cent of the issue will be allocated to qualified institutional buyers (QIBs), 15 per cent will be reserved for non-institutional investors (NIIs), and up to 10 per cent will be available for retail individual bidders. The allocation will be done through the book-building process.

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Quadrant Future Tek IPO Objective

The company aims to utilize the proceeds from fresh issuance as follows: Rs 149.72 crore will be directed towards meeting the long-term working capital requirements of the Specialty Cable Division, Rs 24.37 crore will be used for capital expenditure to develop an Electronic Interlocking System, Rs 23.62 crore will go towards the prepayment or repayment of existing working capital term loans, and the remaining amount will be utilized for general corporate purposes.

Quadrant Future Tek IPO GMP

Quadrant Future Tek shares were commanding a premium of Rs 180 in the unlisted market as of January 6, at 5:04 AM. With the price band set at Rs 290, the estimated listing price for the IPO is Rs 470, according to investorgain.com. This means investors could see an expected listing gain of about 62.07 per cent.

Link Intime India Private Limited is the issue's registrar, while Sundae Capital Advisors Private Limited is the only book-running lead manager.

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About the company

Quadrant is a research-oriented company involved in developing new-generation Train Control and Signalling Systems for Indian Railways that offer rail passengers the highest level of safety and reliability. It also runs a Specialty cable manufacturing facility with an Electron Beam Irradiation Centre.

Quadrant Future Tek operates a specialized Railway Signalling & Embedded System Design center focused on developing Train Control Products and solutions. The company is actively working on creating a train collision avoidance system and an electronic interlocking system under the KAVACH initiative, which serves as an automatic train protection system aimed at enhancing safety and increasing capacity on Indian railways.