Quadrant Future Tek IPO Day 2; Strong response continues, GMP hits 72%

The strong response for Quadrant Future Tek IPO is also reflected in the grey market, where company's unlisted shares are trading at Rs 500 apiece against the upper end of the IPO price band of Rs 290

Quadrant Future Tek IPO subscription status: The initial public offering (IPO) of Quadrant Future Tek, which opened for public subscription on January 7, 2025, continues to attract an overwhelming investor interest on its second day. The Rs 290-crore public offering is available at a price band of Rs 275 - Rs 290 per share, with a lot size of 50 shares.  As of 10:48 AM on January 8, the IPO has been oversubscribed 23.49 times, receiving bids for 13,62,16,500 shares against the 57,99,999 shares on offer, as per data from the National Stock Exchange (NSE).

 

Retail Individual Investors (RIIs) have shown the highest enthusiasm, oversubscribing their reserved portion by 76.16 times. Non-Institutional Investors (NIIs) followed with 35.32 times oversubscription, while Qualified Institutional Buyers (QIBs) have subscribed to only 0.06 times their reserved quota so far.

 

 

The strong response for Quadrant Future Tek IPO is also reflected in the grey market, where the company’s unlisted shares are trading at Rs 500 apiece. This indicates a premium of Rs 210 or 72.41 per cent over the upper end of the IPO price band, according to sources tracking unofficial markets.

 

Brokerages have given favorable reviews to the IPO, recommending a 'subscribe' rating based on the company’s growth prospects and valuation. Analysts believe the issue holds good potential for long-term investors, adding to its overall appeal. READ MORE

 

Quadrant Future Tek IPO will remain open for subscription until January 9, 2025. Investors can apply for a minimum of 50 shares at Rs 14,500 per lot, and up to 13 lots or 650 shares, requiring Rs 1,88,500. 

 

The basis of allotment of Quadrant Future Tek IPO shares is tentatively scheduled to be finalised on January 10, 2025, while shares are expected to be credited to successful bidders’ demat accounts by January 13, 2025.

 

Quadrant Future Tek shares are likely to list on the BSE and NSE on January 14, 2025. 

 

Quadrant Future Tek is a research-oriented company, engaged in developing new-generation Train Control and Signalling Systems under the KAVACH project of the Indian Railways that offers 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. The specialty cables manufactured by the company are used in Railways rolling stock and the Naval (Defence) industry. The company's facility also possesses end-to-end infrastructure capabilities for the production of Solar & EV Cables.