Wed Jan 08 14:11:37 UTC 2025: ## Quadrant Future Tek IPO Oversubscribed by 51 Times

**MUMBAI, January 9, 2025** – The initial public offering (IPO) of Quadrant Future Tek Ltd., a research-oriented company developing advanced train control systems, has been massively oversubscribed, receiving bids 51.81 times the number of shares offered. The IPO, which closes today, has a price band of ₹275-₹290 per share and aims to raise ₹290 crore.

Retail investors showed particularly strong interest, subscribing 145.37 times their allotted quota. Non-institutional investors also demonstrated significant enthusiasm, with a 92.08 times subscription. However, the Qualified Institutional Buyer (QIB) portion received a relatively lower subscription of 0.48 times.

The company, which already secured over ₹130 crore from anchor investors, plans to utilize the IPO proceeds for long-term working capital, capital expenditures on electronic interlocking systems (related to the Indian Railways’ KAVACH project), debt repayment, and general corporate purposes. Quadrant Future Tek specializes in developing next-generation train control and signaling systems and manufactures specialty cables for the railways and defense sectors.

Grey market premiums indicate a strong potential for listing gains, with unlisted shares trading at ₹500, a 72.41% premium over the upper IPO price. IPO allotment is expected on January 10th, with listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) scheduled for January 14th. Sundae Capital Advisors is the sole book-running lead manager for the issue.

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