Tue Jan 07 19:27:07 UTC 2025: ## Quadrant Future Tek IPO Oversubscribed on Day 1

**Mumbai, January 7, 2024** – Quadrant Future Tek Limited’s initial public offering (IPO) opened today, experiencing a strong response from investors. The ₹290 crore IPO, priced at ₹275-₹290 per share, is set to close on January 9th. The company, a developer of next-generation train control and signaling systems for Indian Railways’ KAVACH project, has received overwhelmingly positive recommendations from multiple brokerage houses.

The IPO witnessed remarkable oversubscription on its first day, reaching 13.45 times (1345%) its target. While the Qualified Institutional Buyers (QIB) portion (75% of the offering) saw a lower subscription rate of only 2%, the retail investor portion (10%) was oversubscribed by a staggering 48.32 times. The Non-Institutional Investors (NII) portion (15%) also saw significant interest, oversubscribed by 17.04 times.

This strong demand is reflected in the grey market, where the unlisted stock is trading at a premium of ₹210, representing a 72% premium over the upper price band of ₹290. Based on current grey market premium (GMP), the stock could potentially list at around ₹500.

Several brokerage houses, including SBI Securities, Canara Bank Securities, and Ventura Securities, have recommended subscribing to the IPO. They cite strong revenue growth, high EBITDA and PAT margins, a strategic MoU with RailTel Corp, and a recent large order win from Chittaranjan Locomotive Works as positive factors. They also highlight the company’s diversification into specialized cable manufacturing and its focus on the growing demand for automated railway safety systems and e-beam cables in renewable energy and EV sectors.

Quadrant Future Tek’s IPO is a fresh issue. Sundae Capital Advisors is the book running lead manager, and Link Intime India Private Limited is the registrar.

**(Disclaimer: Investment advice provided by brokerage houses. Market risks exist; consult an expert before investing.)**

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