Tue Jan 07 22:21:51 UTC 2025: ## Quadrant Future Tek IPO Oversubscribed on Day One

**Mumbai, January 7, 2024** – The initial public offering (IPO) of Quadrant Future Tek, a company involved in the Indian Railways’ Kavach project, opened today and has received an overwhelming response from investors. Within the first few hours, the IPO was fully subscribed, exceeding expectations. By 6:19 PM on Tuesday, the main board IPO was oversubscribed 7.51 times. The retail investor category saw the most significant demand, with a subscription level of 26.56 times on the first day alone. While the Qualified Institutional Buyer (QIB) portion received a relatively low subscription of 0.04 times, the Non-Institutional Investor (NII) category saw a 9.75 times oversubscription.

The IPO, which offers 1 crore new shares, is valued at ₹290 crore and will remain open until January 9th. The price band is set at ₹275-₹290 per share, with a minimum investment of ₹14,500 for retail investors (50 shares per lot). The company successfully raised ₹130.50 crore from anchor investors.

According to Investors Gain website, the grey market premium (GMP) for the IPO is currently ₹210, its highest level to date, significantly up from its lowest of ₹140 on January 4th.

**Disclaimer:** *This is not investment advice. The stock market is subject to risks. Consult with experts before making any investment decisions.*

Read More