Quadrant Future Tek IPO opens on Jan 7; key details for investors from RHP

Quadrant Future Tek IPO: The initial public offering (IPO) of Quadrant Future Tek is set to open for public subscription on Tuesday, January 7, 2025. At the upper end, the company seeks to raise Rs 290 crore from the offering. The bidding for anchor investors is likely to take place on Monday, January 6, 2025.

 

Here are the key details of the Quadrant Future Tek IPO, outlined by the company in its Red Herring Prospectus (RHP):

 

Quadrant Future Tek IPO size, price band

The offering comprises an entirely fresh issue of 2,90,00,000 equity shares. Quadrant Future Tek has not announced the price band and lot size for its IPO yet. "The Price Band and minimum Bid Lot will be decided by our Company, in consultation with the book-running lead manager (BRLM)," the company said in its RHP. 

 

Quadrant Future Tek IPO timeline

Quadrant Future Tek IPO will tentatively remain available for subscription from Tuesday, January 7, 2025, till Thursday, January 9, 2025.

 

Following the closure of the subscription window, the basis of the allotment of Quadrant Future Tek IPO shares is expected to be finalised on Friday, January 10, 2025. The successful allottees will receive the company’s shares on Monday, January 13, 2025, in their demat accounts.

 

The tentative listing of the Quadrant Future Tek shares is likely to take place on Tuesday, January 14, 2025. The company’s shares will list on BSE and the National Stock Exchange (NSE).

 

Quadrant Future Tek IPO objective

Quadrant Future Tek, in its RHP, said that it will use the proceeds from the public offering for funding long-term working capital requirements of the company and for the capital expenditure for the development of an electronic interlocking system. The company will further use the proceeds for the prepayment or repayment of all or a portion of the outstanding working capital term loan availed by the company, as well as for general corporate purposes.

 

Quadrant Future Tek financial details

According to the data available in the RHP, Quadrant Future Tek's profit rose to Rs 14.71 crore in FY24, up 5.82 per cent from Rs 13.90 crore reported in FY23.

 

The company's revenue from operations jumped to Rs 151.75 crore, up 0.68 per cent from Rs 150.80 crore reported in FY23. On the flip side, the company's expenses dropped to Rs 129.93 crore in FY24, down 2.31 per cent from Rs 133.01 crore reported in FY23.

 

About Quadrant Future Tek

Quadrant is a research-oriented company engaged in developing next-generation Train Control and Signalling Systems under the KAVACH project of the Indian Railways, offering the highest level of safety and reliability to rail passengers. The company also possesses a specialty cable manufacturing facility with an Electron Beam Irradiation Centre, as stated in its RHP. The specialty cables manufactured by the company are used in Railways rolling stock and the Naval (Defence) industry.