Quadrant Future Tek allots shares worth Rs 130.5 crore to anchor investors

Quadrant Future Tek on Monday garnered Rs 130.5 crore from anchor investors ahead of its initial public offering (IPO). The company allocated 45 lakh shares at Rs 290 per share to anchor investors.

 

Foreign and domestic institutions that participated in the anchor allotment included Citigroup Global Markets Mauritius, Capri Global Capital, WhiteOak Mutual Fund, LIC Mutual Fund, Kotak Mutual Fund, Bank of India Mutual Fund, and Sundaram Alternative, among others.

 

The IPO is entirely a fresh issue of up to Rs 290 crore, and the company has priced its issue between Rs 275 and Rs 290 per share.

 

Quadrant is engaged in developing train control and signalling systems under the KAVACH project of the Indian Railways. The issue will be open for subscription starting on Tuesday.