Quadrant Future Tek IPO Day 1: GMP, Live Updates: Key Highlights, Subscription Status, and Insights
Quadrant Future Tek's IPO opened for subscription today, January 7, 2025. The IPO will close on January 9, 2025. The company has raised Rs 130.50 crore from anchor investors.
Quadrant Future Tek IPO: Issue Details
The IPO is a book-built issue of Rs 290 crore, consisting of an entirely fresh issue of 1 crore shares. The basis of allotment will be finalised by January 10, 2025, and the tentative listing date is Tuesday, January 14, 2025.
Quadrant Future Tek IPO: Subscription Details
07-Jan-2025 13:36:00
The IPO was subscribed the most by retail investors at 34.69 times. Qualified institutional buyers (QIBs) bid for 0.01 times the number of shares set aside for them, and non-institutional investors (NIIs) 10.77 times the number of shares set aside for them.
Quadrant Future Tek IPO: Price Band and Lot Size
The price band is set at between Rs 275 to Rs 290 per share. The minimum lot size for an application is 50 shares, and the investment required by retail investors is ₹14,500.
For small non-institutional investors (sNII) and bulk non-institutional investors (bNII), the lot sizes are 14 lots and 69 lots, respectively.
About Quadrant Future Tek
Quadrant Future-Tek is a technology and innovation-driven company developing Train Control and Signalling Systems for the Indian Railways' KAVACH project.
The net proceeds from the IPO will be allocated towards:
- Long-term working capital requirements
- Development of the Electronic Interlocking System
- Repayment of outstanding working capital term loan
- General corporate purposes
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