Tue Jan 07 03:13:19 UTC 2025: ## Quadrant Future Tek’s ₹290 Crore IPO Opens Today

**MUMBAI** – Quadrant Future Tek Ltd.’s initial public offering (IPO), valued at ₹290 crore, opens for subscription today. The IPO, a fresh issue of equity shares, is priced in a band of ₹275 to ₹290 per share. Investors can bid for a minimum of 50 shares and in multiples of 50 thereafter. The shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The IPO, managed through a book-building process, allocates 75% of shares to qualified institutional buyers, 15% to non-institutional investors, and up to 10% to retail investors. The company successfully raised ₹130.50 crore from anchor investors on Monday, allocating 45 lakh shares at ₹290 per share to several prominent domestic and foreign institutional investors, including Citigroup Global Markets Mauritius, Capri Global Capital, and several mutual funds.

Proceeds from the IPO will primarily fund the company’s long-term working capital needs, specifically for its Specialty Cable Division (₹149.70 crore), capital expenditure for the Electronic Interlocking System (₹24.40 crore), and repayment of existing loans (₹23.6 crore), with the remainder allocated to general corporate purposes.

Quadrant Future Tek is a research-driven company specializing in next-generation train control and signaling systems, notably contributing to the Indian Railways’ KAVACH project. It also manufactures specialty cables for railway rolling stock and the naval defense industry, with capabilities in solar and EV cable production. Sundae Capital Advisors is the sole book-running lead manager, and Link Intime India is the registrar.

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