Tue Jan 07 12:02:01 IST 2025: ## Quadrant Future Tek IPO Oversubscribed on Day 1

**Mumbai, January 7, 2024** – Quadrant Future Tek Ltd.’s initial public offering (IPO) saw strong demand on its first day, exceeding expectations with a 5.65 times oversubscription by 11:54 IST. The ₹290 crore IPO, priced between ₹275 and ₹290 per share, opened to the public on Tuesday and will close on Thursday.

Retail investors showed particularly strong interest, with their portion of the offering oversubscribed by 22.42 times. Non-institutional investors also subscribed 5.75 times their allotted amount. The Qualified Institutional Buyers (QIBs) portion remained open at the time of this report. A total of 327,52,150 bids were received against 57,99,999 shares on offer.

The company, which focuses on advanced train control and signaling systems (including the Indian Railways’ KAVACH project) and specialty cable manufacturing, secured over ₹130 crore from anchor investors the day prior to the IPO opening. Proceeds will fund long-term working capital needs, capital expenditure on electronic interlocking systems, debt repayment, and general corporate purposes.

Quadrant Future Tek boasts a 44.85% compound annual growth rate (CAGR), increasing revenue from ₹72.83 crore in FY21 to ₹152.80 crore in FY23. The company’s P/E ratio of 59x is in line with its industry peers, suggesting potential for growth. Analysts cite the company’s technological expertise, manufacturing capabilities, and strong partnerships as key strengths, recommending a “SUBSCRIBE” rating for long-term investment. The grey market premium currently indicates an expected listing price significantly higher than the IPO price. However, investors are cautioned to conduct their own due diligence before investing.

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