The much awaited IPO of Rs 290 crore by Quadrant Future Tek will open for public subscription on January 7, 2025 and close on January 9, 2025. The company has fixed the price band at Rs 275 to Rs 290 per equity share, with a face value of Rs 10 per share.
Subscription details:
- This IPO represents a fresh issue for Rs 290 crore.
- Investors can apply for a minimum of 50 equity shares and thereafter in multiples of 50.
- Allocation Details:
- 75% for Qualified Institutional Buyers (QIB).
- 15% goes to Non Institutional Investors (NII).
- 10% goes for retail investors.
Utilization of funds
The funds from the IPO will be used by Quadrant Future Tek in the following way:
a) Long-term working capital requirements for its Specialty Cable Division-Rs 149.72 crore.
b) Setting up an electronic interlocking system: Rs 24.37 crore.
c) Repayment/prepayment of outstanding working capital term loans: Rs 23.62 crore.
The balance is for general corporate purposes.
Important Dates and Information on Listings
- Allocation Date: January 10, 2025
- Listing Date: January 14, 2025
- Exchanges: BSE and NSE
- About Quadrant Future Tek
The company operates from a single facility in Village Basma, Mohali, Punjab, which is the most modern facility in its category, he stated, adding that this facility is for specialty cables and hardware for Train Control & Signaling Division.
Value added services include:
- A specialist cable manufacturing plant with an Electron Beam Irradiation Centre.
- Next-generation train control and signalling systems for Indian Railways.
- Specialty cables catering for railway rolling stocks and naval (defense) industries.
- Production of EV and solar cables using end-to-end infrastructure.
Current GMP and Expected Listing Price
As of 10:58 AM on January 5, 2025, the current GMP (Grey Market Premium) for the Quadrant Future Tek IPO stands at Rs 180, according to investorgain.com.
Based on an upper price band of Rs 290, the anticipated list price is then set at Rs 470, at a 62.07 percent mark-up.
As a company that prides itself on safety and reliability coupled with innovation in the critical infrastructure sectors, Quadrant Future Tek IPO will bestow a lot of investor interest.