Tue Jan 07 21:06:59 UTC 2025: ## Quadrent Future Tech IPO Oversubscribed Within Minutes

**New Delhi:** The initial public offering (IPO) of Quadrent Future Tech Limited was fully subscribed within minutes of opening today, ultimately receiving a staggering 15.84 times oversubscription by the end of the day. According to NSE data, the IPO received bids for 9,18,47,850 shares against the offered 57,99,999 shares. Strong participation from retail and non-institutional investors fueled the IPO’s massive success.

The IPO’s shares also saw a surge in grey market premium (GMP), trading at a premium of ₹210. The retail investors’ (RIIs) portion was oversubscribed by a remarkable 54.72 times, while the non-institutional investors’ (NIIs) portion received 21.49 times subscription. However, the qualified institutional buyers (QIBs) portion saw only 5% subscription. The company had announced on Monday that it had raised over ₹130 crore from anchor investors.

The IPO, open until January 9th, aims to raise ₹290 crore through a fresh issue. The price band was set at ₹275-₹290 per equity share. Investors could bid for a minimum of 50 equity shares and in multiples of 50 thereafter. Based on the upper price band, retail investors had to invest a minimum of ₹14,500.

Grey market indicators suggest a strong market sentiment. According to IPOwatch.in, Quadrent Future Tech shares were trading at a premium of ₹210 on January 7th. Based on the upper price band and grey market predictions, the company’s shares could potentially list at ₹500 per share.

Quadrent Future Tech is a research-oriented company developing next-generation train control and signaling systems under the Indian Railways’ Kavach project. It also possesses a specialized cable manufacturing facility along with an electron beam irradiation center. The company’s cables are used in railway rolling stock and the naval (defense) industry. Funds raised from the IPO will be used for long-term capital needs for the cable division, capital expenditure for electronic interlocking systems, repayment of working capital term loans, and general corporate purposes.

**(Disclaimer: Investment in IPOs is subject to market risks. Consult a certified investment advisor before investing.)**

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