Wed Jan 08 02:05:26 UTC 2025: **Quadrant Future Tek IPO Oversubscribed on Day One**
MUMBAI, January 7, 2025 – The initial public offering (IPO) of Quadrant Future Tek Limited, a research-oriented company specializing in train control and signalling systems and specialty cable manufacturing, opened to an overwhelming response today. The IPO, priced between ₹275 and ₹290 per share, was subscribed over 15.86 times on its first day, with bids for 91,847,850 shares against the offered 57,99,999 shares.
Retail investors showed the strongest interest, subscribing 54.84 times their allocation. Non-institutional investors subscribed 21.51 times, while Qualified Institutional Buyers (QIBs) showed less enthusiasm, with a subscription rate of only 0.05 times.
The IPO, which opened on January 7th and closes on January 9th, aims to raise ₹290 crore through a fresh issue. Prior to the IPO, Quadrant Future Tek raised ₹130.50 crore from anchor investors, including prominent domestic and foreign institutions like Citigroup Global Markets Mauritius, Capri Global Capital, and several mutual funds.
Link Intime India Private Limited is the registrar, and Sundae Capital Advisors is the lead manager for the IPO. The company’s single facility in Mohali, Punjab houses manufacturing, testing, research, and development for both its train control and signalling systems and specialty cable divisions. One lot of the IPO consists of 50 shares.
First Piper 