Quadrant Future Tek IPO subscribed 15.86 times on Day 1; check issue size, price band & more

Quadrant Future Tek IPO: The initial public offering of Quadrant Future Tek was subscribed over 15.8 times on the first day of bidding.

The issue was subscribed 15.8 times till 5:00 pm. According to the consolidated data on the NSE, it received bids for 9.19 crore equity shares against 57,99,999 shares on offer.

Retail investors subscribed to their quota 54.84 times, while the non-institutional investors (NIIs) portion was booked 21.51 times.

The IPO is a fresh issue of one crore shares worth ₹290 crore. The money raised will be used for working capital needs, debt repayment, capital expenditure and corporate general purposes.

The initial share sale, with a price band of ₹275-₹290 per share, will conclude on Thursday, January 9.

Quadrant Future Tek IPO lot size

An interested investor can apply for at least 50 shares, needing an investment of ₹14,500.

The company has kept aside 75% of the net issue for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.

Quadrant Future Tek raises ₹130.5 crore from anchor investors

On Monday, Quadrant Future Tek raised ₹130.50 crore from anchor investors, including WhiteOak Capital Mutual Fund (MF), Bank of India MF, LIC MF, Kotak MF, Citigroup Global Markets Mauritius, Bengal Finance and Investments Shubhkam Venture (I) Pvt Ltd, Ashoka WhiteOak ICAV, and Capri Global Capital.

The company allotted 45 lakh shares to 22 entities at ₹290 per share.

Quadrant Future Tek IPO allotment and listing date

Link Intime India is the issue's registrar, while Sundae Capital Advisors is the sole book-running lead manager.

Quadrant is a research-oriented establishment engaged in producing new-generation train control and signalling systems under the Indian Railways' KAVACH project. These systems offer the highest level of safety and reliability to rail passengers.