IPO Today - Mainboard & SME IPOs Live: Quadrant Future Trek and Capital Infra Trust InvIT SME IPOs Live: Avax Apparels, Delta Autocorp, and BR Goyal

Quadrant Future Tek Limited

Quadrant Future Tek Limited, established in September 2015, specializes in the development of advanced Train Control and Signaling Systems for the Indian Railways' KAVACH project, which aims to enhance passenger safety and system reliability.

In addition to its expertise in signalling systems, the company operates a state-of-the-art speciality cable manufacturing facility, which includes an Electron Beam Irradiation Centre. This facility supports the production of high-quality cables for various critical applications.

Quadrant Future Tek's primary manufacturing, testing, and development centre is located in Village Basma, Tehsil Banur, District Mohali, Punjab. This facility is dedicated to producing speciality cables and hardware components for the Train Control and Signaling division.

Quadrant Future Tek IPO Day 3 Subscription Status

(January 9, 2025, End of the Day)

On the third day of bidding, the Quadrant Future Tek IPO was subscribed 185.67 times the total number of shares available. 

• Non-Institutional Investors (NIIs) subscribed to 254.12 times their allocated portion.
• Retail Investors subscribed 242.38 times the shares set aside for them.
• The Qualified Institutional Buyers (QIBs) segment saw a subscription rate of 132.57 times.

Grey Market Premium (GMP)

Quadrant Future Tek's unlisted shares are currently trading at Rs 500, indicating a grey market premium (GMP) of Rs 210, or 72.41%, above the upper limit of the IPO price band of Rs 290, according to Business Today.

Note: The Grey Market Premium (GMP) is not an official price and is based on market speculation.

Quadrant Future Tek IPO Details

• Quadrant Future Tek IPO is a book-built issue of Rs 290.00 crores, consisting entirely of a fresh issue of 1.00 crore shares.
• The IPO bidding period was from January 7, 2025, to January 9, 2025.
• The allotment is expected to be finalized on Friday, January 10, 2025.
• The IPO will be listed on BSE and NSE, with a tentative listing date of Tuesday, January 14, 2025.
• The price band for the IPO is set at ₹275 to ₹290 per share.
• The minimum lot size for an application is 50 shares.
• Retail investors need a minimum investment of ₹14,500.
• For sNII (Small Non-Institutional Investors), the minimum investment is 14 lots (700 shares) amounting to ₹2,03,000.
• For bNII (Big Non-Institutional Investors), the minimum investment is 69 lots (3,450 shares) amounting to ₹10,00,500.
• Sundae Capital Advisors is the book-running lead manager for the IPO.
• Link Intime India Private Ltd is the registrar for the issue.

  Also Read :

  Quadrant Future Trek IPO Day 1 Subscription Status,  Quadrant Future Trek IPO Day 2 Subscription Status

Use of Proceeds

The company plans to allocate the net proceeds from the IPO towards several key objectives. These include supporting long-term working capital needs, financing capital expenditure for the development of the Electronic Interlocking System, repaying or prepaying a portion of its existing working capital term loan, and covering general corporate expenses.

Capital Infra Trust InvIT

Capital Infra Trust, established in September 2023, is an infrastructure investment trust (InvIT) sponsored by Gawar Construction Limited. The trust operates under the SEBI InvIT Regulations and focuses on undertaking activities and investments within the infrastructure sector.

Gawar Construction Limited, the sponsor, is a prominent player in road and highway construction across 19 states in India. The company works with various government authorities, including the National Highways Authority of India (NHAI), the Ministry of Road Transport and Highways (MoRTH), the Mumbai Metropolitan Region Development Authority (MMRDA), and the Central Public Works Department (CPWD).

As of December 2024, the sponsor’s portfolio includes 26 hybrid annuity model (HAM) road projects with NHAI. This portfolio comprises 11 completed projects, including five assets previously owned by Sadbhav Infrastructure Project Limited and 15 projects currently under construction.

Capital Infra Trust InvIT IPO Day 3 Subscription Status

(January 9, 2025, End of the Day)

On the third day of bidding, the Capital Infra Trust InvIT IPO was subscribed 2.23 times the total shares on offer. 

• Non-Institutional Investors (NIIs) subscribed to 4.24 times their allotted portion.
• The Qualified Institutional Buyers (QIBs) segment recorded a subscription rate of 0.58 times.

Capital Infra Trust InvIT IPO Details

• Capital Infra Trust InvIT is a book-built issue of Rs 1,578.00 crores.
• The issue comprises a fresh issue of 10.77 crore shares amounting to Rs 1,077.00 crores.
• It also includes an offer for sale of 5.01 crore shares aggregating to Rs 501.00 crores.
• The bidding period for the InvIT was from January 7, 2025, to January 9, 2025.
• The allotment is expected to be finalized on Friday, January 10, 2025.
• The InvIT will be listed on the BSE and NSE, tentatively on Tuesday, January 14, 2025.
• The price band for the issue is set at ₹99 to ₹100 per share.
• The minimum lot size for an application is 150 shares.
• Retail investors must invest a minimum of ₹15,000.
• For sNII (Small Non-Institutional Investors), the minimum investment is 14 lots (2,100 shares), amounting to ₹2,10,000.
• For bNII (Big Non-Institutional Investors), the minimum investment is 67 lots (10,050 shares), amounting to ₹10,05,000.
• SBI Capital Markets Limited and HDFC Bank Limited are the book-running lead managers for the issue.
• KFin Technologies Limited is the registrar for the InvIT.

  Also Read :

  Capital Infra Trust InvIT IPO Day 1 Subscription Status, Capital Infra Trust InvIT IPO Day 2 Subscription Status

Use of Proceeds

The proceeds from the offer will be used to provide loans to the Project SPVs to repay or prepay external borrowings from financial lenders, either partially or fully, including any accrued interest and prepayment penalties. Additionally, the funds will be utilized to extend loans to the Project SPVs to settle unsecured loans obtained from the Sponsor.

SME IPOs

Avax Apparels and Ornaments Limited

Avax Apparels And Ornaments Limited, established in June 2005, operates in wholesale trading and online retail of silver ornaments. The company offers a variety of products, including rings, payals, kadas, and other jewellery items, primarily serving major cities in India. Its strategic location in a cloth manufacturing hub, alongside strong supplier relationships and increasing product demand, contributes to its success in wholesale trading.

Avax Apparels and Ornaments IPO Day 3 Subscription Status

(January 9, 2025, End of the Day)

On the third day of bidding, the Avax Apparels and Ornaments IPO was subscribed 259.81 times the total shares offered.

• Non-Institutional Investors (NIIs) subscribed to 140.4 times their allotted share portion.
• Retail Investors subscribed to 371.2 times the shares reserved for them.

Grey Market Premium (GMP)

According to the Economic Times, the Grey Market Premium (GMP) for the Avax Apparels and Ornaments SME IPO was Rs 10 on January 9. With the IPO's fixed price set at Rs 70 per share, the estimated listing price is expected to be around Rs 80, factoring in the current GMP. This indicates a potential gain of 14.29% per share upon listing.

Note: The Grey Market Premium (GMP) is not an official price and is based on market speculation.

Avax Apparels and Ornaments IPO Details

• Avax Apparels And Ornaments IPO is a fixed price issue of Rs 1.92 crores.
• The issue consists entirely of a fresh issue of 2.74 lakh shares.
• The IPO bidding period started on January 7, 2025, and ended on January 9, 2025.
• The allotment is expected to be finalized on Friday, January 10, 2025.
• The IPO will be listed on BSE SME with a tentative listing date of Tuesday, January 14, 2025.
• The IPO price is set at ₹70 per share.
• The minimum lot size for an application is 2,000 shares.
• Retail investors need a minimum investment of ₹1,40,000.
• HNIs (High Net-worth Individuals) require a minimum investment of 2 lots (4,000 shares), amounting to ₹2,80,000.
• SKI Capital Services Limited is the book-running lead manager and the market maker for the Avax Apparels And Ornaments IPO. 
• Skyline Financial Services Private Ltd is the registrar for the issue.

Use of Proceeds

The company plans to utilize the net proceeds from the issue to fund its working capital requirements and for general corporate purposes, supporting its overall business operations and growth initiatives.

Delta Autocorp Limited

Delta Autocorp Limited, founded in 2016, manufactures and sells electric 2-wheelers and 3-wheelers under the brand "Deltic." The company launched its first E-Rickshaw in 2017, achieving a range of over 150 km. In 2018, Delta expanded to electric 2-wheelers, launching affordable scooters in 2019 for tier-2 and tier-3 towns. Operating through over 300 dealers across 25 states and Union Territories, the company primarily focuses on B2B transactions. Delta aims to become a global brand with a commitment to in-house innovation, supported by an R&D team of 11 in Uttar Pradesh.

Delta Autocorp IPO Day 3 Subscription Status

(January 9, 2025, End of the Day)

On the third day of bidding, the Delta Autocorp IPO was subscribed 342.1 times the total shares available.

• Non-Institutional Investors (NIIs) subscribed 624.28 times their allocated portion.
• Retail Investors subscribed to 314.33 times the shares reserved for them.
• The Qualified Institutional Buyers (QIBs) segment recorded a subscription rate of 178.64 times.

Grey Market Premium (GMP)

According to the Economic Times, the Grey Market Premium (GMP) for the Delta Autocorp IPO was Rs 116 as of January 9. With the price band set at Rs 130 per share, the anticipated listing price is Rs 246, based on the current GMP. This suggests a potential gain of approximately 89.23% over the issue price.

Note: The Grey Market Premium (GMP) is not an official price and is based on market speculation.

Delta Autocorp IPO Details

• Delta Autocorp IPO is a book-built issue worth Rs 54.60 crores.
• Fresh issue: 38.88 lakh shares worth Rs 50.54 crores.
• Offer for sale: 3.12 lakh shares worth Rs 4.06 crores.
• IPO bidding timeline:
• Start date: January 7, 2025.
• End date: January 9, 2025.
• Allotment is expected to be finalized on Friday, January 10, 2025.
• Tentative listing date: Tuesday, January 14, 2025, on NSE SME.
• IPO price band: ₹123 to ₹130 per share.
• Minimum lot size for retail investors: 1,000 shares (₹1,30,000).
• Minimum lot size for HNI investors: 2 lots (2,000 shares) amounting to ₹2,60,000.
• Book running lead manager: GYR Capital Advisors Private Limited.
• Registrar: Link Intime India Private Ltd.
• Market maker: Giriraj Stock Broking Private Limited.Also Read :

Use of Proceeds

The key objectives of the offer are to raise funds for setting up an electric three-wheeler fabrication and painting plant, investing in the development of new products, supporting the company’s working capital needs, covering general corporate expenses, and addressing the costs related to the offer.

B.R. Goyal Infrastructure Limited

B.R.Goyal Infrastructure Limited, founded in 2005, specializes in infrastructure projects such as roads, highways, bridges, and buildings. The company operates an integrated EPC and construction business, supported by a design and engineering team and an RMC unit in Indore with a production capacity of 1.80 lakh cubic meters per year. As of September 30, 2024, it has a fleet of over 199 construction equipment and vehicles. The company entered the wind energy sector in 2005 with a 1.25 MW wind turbine in Jaisalmer, Rajasthan. After successfully completing projects in Madhya Pradesh, it is currently expanding into road construction in Maharashtra, Gujarat, Mizoram, Manipur, and Uttar Pradesh.

B.R. Goyal Infrastructure IPO Day 3 Subscription Status

(January 9, 2025, End of the Day)

On the third day of bidding, the B.R. Goyal Infrastructure IPO was subscribed 118.08 times the total shares offered.

• Non-Institutional Investors (NIIs) subscribed 256.9 times their allotted portion.
• Retail Investors subscribed to 88.27 times the shares reserved for them.
• The Qualified Institutional Buyers (QIBs) segment recorded a subscription rate of 69.88 times.
• Employees subscribed 1.11 times the shares reserved for them.

Grey Market Premium (GMP)

According to the Economic Times, on January 9, the Grey Market Premium (GMP) for the BR Goyal Infrastructure IPO stood at Rs 60. With the price band set at Rs 135 per share, the estimated listing price, factoring in the GMP, is Rs 195. Based on this projected listing price, investors could see a gain of 44.44% per share. 

Note: The Grey Market Premium (GMP) is not an official price and is based on market speculation.

B.R. Goyal Infrastructure IPO Details

• B.R. Goyal IPO is a book-built issue worth Rs 85.21 crores. Entirely a fresh issue: 63.12 lakh shares.
• IPO bidding timeline:
• Start date: January 7, 2025.
• End date: January 9, 2025.  
• Allotment expected to be finalized on: Friday, January 10, 2025.
• Tentative listing date: Tuesday, January 14, 2025, on BSE SME.
• IPO price band: ₹128 to ₹135 per share.
• Minimum lot size for retail investors: 1,000 shares (₹1,35,000).
• Minimum lot size for HNI investors: 2 lots (2,000 shares) amounting to ₹2,70,000.
• Book running lead manager: Beeline Capital Advisors Pvt Ltd.
• Registrar: Link Intime India Private Ltd.
• Market maker: Spread X Securities Private Limited.

Use of Proceeds

The company plans to utilize the net proceeds from the issue to fulfil its capital expenditure needs, support its working capital requirements, fund expenditures for inorganic growth through acquisitions and other strategic initiatives, and cover general corporate purposes.

Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.

Disclaimer: The GMP (Grey Market Premium) price is an unauthenticated market-related news and has no discernible basis. The same quoted above is as per news that appeared in the media report and is for information purposes only. The investor shall do their own study/research before using the same for taking any decision to invest. We neither engage in, trade or deal in the grey market nor do we recommend or endorse trading in the grey market.