Wed Jan 08 05:01:50 UTC 2025: **Quadrant Future Tek IPO Oversubscribed 15 Times**
MUMBAI, INDIA – Quadrant Future Tek’s initial public offering (IPO) has been massively oversubscribed, closing Thursday with a total subscription of 15.86 times. The ₹290 crore IPO, priced at ₹275-290 per share, saw particularly strong demand from retail investors, whose portion was subscribed nearly 55 times. High net-worth individuals (HNIs) also showed significant interest, with their quota oversubscribed 21.51 times.
The company, a research-oriented firm specializing in next-generation train control and signaling systems (including work on the KAVACH project for Indian Railways) and specialty cable manufacturing, raised ₹130.50 crore from anchor investors on Monday. These investors included prominent names such as Citigroup Global Markets Mauritius Private Limited, Capri Global Capital Limited, and several mutual funds.
The proceeds from the IPO will primarily fund the company’s working capital needs, capital expenditure for the Electronic Interlocking System, and debt repayment. Sundae Capital Advisors Private Limited acted as the sole book-running lead manager, while Link Intime India Private Limited served as the registrar. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
First Piper 