Quadrant Future Tek IPO Day 2: Issue booked over 40 times so far; check offer size, price band and more

The initial public offering (IPO) of Quadrant Future Tek Ltd saw a strong demand from investors on Wednesday, January 8, as the public offer was booked more than 40 times led by the retail investors.

The mainboard issue was booked 40.35 times, with bids for more than 23.40 crore shares against 58 lakh shares on offer, as per the stock exchange data till 3 pm.

The cable manufacturer for the train control and signalling systems aims to raise ₹290 crore from the primary market through its maiden share sale. The IPO will conclude on Thursday, January 9.

The retail investors applied for 12.58 crore shares against their allocated quota of 10.54 lakh shares, leading to a subscription of 119.38 times. The non-institutional investors (NIIs) subscribed their category 67.95 times with bids for more than 10.74 crore shares against 15.81 lakh shares on offer.

The qualified institutional buyers (QIBs) applied for only 6,73,350 shares against 31.63 lakh shares set aside for them, leading to a subscription of 21% in the category.

Here’s a look at all the key details about the issue for the investors interested in applying for the Quadrant Future Tek IPO:

Quadrant Future Tek raise ₹130.5 crore from anchor investors

Ahead of the launch of its IPO, Quadrant Future Tek raised a total of ₹130.5 crore from anchor investors. Its anchor bid date was January 6.

According to the data available with the stock exchanges, the company allotted 45 lakh shares to 22 entities at an allocation price of ₹290 per equity share, including a share premium amount of ₹280 per piece.

Quadrant Future Tek IPO price band and other details

Quadrant Future Tek IPO consists exclusively of a fresh issue of 1 crore shares. It does not contain any offer-for-sale (OFS) component.

The company has fixed the price band at ₹275 to ₹290 per share for the IPO. The minimum lot size is 50 shares for retail investors, aggregating to an investment of at least ₹14,500 per lot.

Sundae Capital Advisors is the book-running lead manager of the Quadrant Future Tek IPO, while Link Intime India Private Ltd is the registrar for the issue.

Quadrant Future Tek IPO key dates

The IPO allotment status is expected to be finalised on Friday, January 10. Refunds will be issued on Monday, January 13, and the allottees will also receive shares in the Demat accounts on the same day.

Shares of Quadrant Future Tek are scheduled to be listed on the NSE and BSE on Tuesday, January 14.

About Quadrant Future Tek and use of IPO proceeds

Quadrant is primarily engaged in producing new-generation train control and signalling system components for the Indian Railways' KAVACH project.

The Mohali-based firm also has a speciality cable manufacturing plant with an electron beam irradiation centre. These cables are used in the naval (Defence) industry and railway rolling stock. As of September 30, 2024, the speciality cable division had an installed capacity of over 1,887 metric tonnes (MT).

The company plans to utilise the IPO proceeds to fund long-term working capital needs, capital expenditures for developing an electronic interlocking system and general corporate purposes.

The company’s revenue stood at ₹65.13 crore in the first half of the financial year 2025 (H1FY25). It posted a net loss of ₹12.1 crore during the same period.

In FY24, the company reported a revenue of ₹151.75 crore, while its net profit stood at ₹14.71 crore.