Quadrant Future Tek IPO closes today; Subscription rises 49x, GMP zooms 71%

Quadrant Future Tek IPO, which opened for public subscription on January 7, 2025, is set to close today, Thursday, January 9, 2025

Quadrant Future Tek IPO subscription status: The initial public offering (IPO) of Quadrant Future Tek, which opened for subscription on Tuesday, January 7, 2025, has garnered an overwhelming response from investors. The three-day subscription window concludes today, Thursday, January 9, 2025.

 

The IPO is available at a price band of Rs 275-290 per share, with a lot size of 50 shares. The public offering has received bids for 28,38,99,400 equity shares against the 57,99,999 shares on offer, resulting in an oversubscription of 48.95 times as of January 8, 2025, showed the data available on the National Stock Exchange (NSE). 

 

 

Retail Individual Investors (RIIs) have oversubscribed their category by 137.07 times, leading the demand among investor segments. Non-Institutional Investors (NIIs) followed, subscribing 87.18 times to their allocated portion, while Qualified Institutional Buyers (QIBs) subscribed to 0.46 times. 

 

The IPO’s strong subscription is mirrored in grey market trends, where Quadrant Future Tek's unlisted shares are trading at Rs 500. This reflects a grey market premium (GMP) of Rs 210 or 72.41 per cent over the upper end of the IPO price band of Rs 290, as per sources tracking unofficial markets.

 

Brokerages have given favorable reviews to the IPO, assigning it a ‘subscribe’ rating due to the company’s strong growth prospects and reasonable valuations. Analysts see long-term potential in the issue, further enhancing its attractiveness to investors. READ MORE

 

The basis of allotment for the Quadrant Future Tek IPO shares is expected to be finalised on Friday, January 10, 2025. Successful applicants will receive shares in their demat accounts by Monday, January 13, 2025. Quadrant Future Tek shares are scheduled to list on the BSE and NSE on Tuesday, January 14, 2025.

 

About Quadrant Future Tek

Quadrant Future Tek is a research-driven company specializing in the development of Train Control and Signalling Systems under the Indian Railways' KAVACH project. This cutting-edge technology prioritizes the highest levels of safety and reliability for rail passengers. The company also operates a state-of-the-art specialty cable manufacturing facility, which includes an Electron Beam Irradiation Centre. Its specialty cables are used in the Railways' rolling stock and the Naval Defence sector. Additionally, the facility supports the production of solar and electric vehicle (EV) cables, making Quadrant Future Tek a key player in India’s infrastructure and technology sectors.