Quadrant Future Tek IPO Day 2: GMP, Live Updates: Key Highlights, Subscription Status, and Insights
Quadrant Future-Tek's IPO was the talk of the town on its launch day. Within a few hours of its opening, the issue was fully subscribed. Today is Day 2 of the bidding. The IPO will conclude on Thursday, January 9.
Quadrant Future Tek IPO Details
- The company aims to raise Rs 290 crore through its IPO, involving a fresh issue of 1 crore shares.
- The IPO opened on January 7, 2025, and is scheduled to close on January 9, 2025.
- The price band is set between ₹275 to ₹290 per share.
- Shares will be allotted by December 10, 2024.
- The minimum lot size for an application is 50 shares, requiring a minimum investment of ₹14,500 for retail investors. For Small and Non-Institutional Investors (sNII), the minimum investment is ₹2,03,000 for 14 lots (700 shares). For Bulk Non-Institutional Investors (bNII), the minimum investment is ₹10,00,500 for 69 lots (3,450 shares).
- The company will be listed on the NSE and BSE on Monday, January 14, 2025.
- Book-running lead managers for the Quadrant Future Tek IPO are Sundae Capital Advisors.
- Link Intime India Private Ltd is serving as the registrar for the IPO.
Use of Proceeds
The net proceeds from the IPO will be used to fund the company’s working capital requirements, repayment of outstanding working capital term loans, development of the Electronic Interlocking System for Railways, and other general corporate purposes.
Quadrant Future Tek IPO Day 2 Subscription Status
08-Jan-2025 10:36:00
On Day 2, the IPO was subscribed 22.03 times, with
- Retail Investors subscribed 72.45 times,
- Non-Institutional Buyers 32.35 times, and
- Qualified Institutional Buyers 0.06 times.
Quadrant Future Tek IPO Day 1 Subscription Status
On Day 1, the IPO was subscribed 15.84 times with retail investors showing the highest interest with a subscription rate of 54.84 times. The subscription by Non-Institutional Buyers was 21.51 times and Qualified Institutional Buyers 5 times.
Quadrant Future Tek Business Overview
Quadrant Future Tek develops next-generation Train Control and Signalling Systems that ensure the safety of passengers. The company also operates a state-of-the-art Electron Beam Irradiation Centre, which produces speciality irradiated (E-beam) cables tailored to stringent industry standards. These cables serve sectors such as Railways, naval defence, renewable energy, and electric vehicles.
Quadrant Future Tek Financial Highlights
- In the financial year 2023, the company’s revenue from operations stood at Rs 152.80 crore, up 46.56 percent from Rs 104.26 crore in the previous financial year.
- For the period ending December 31, 2023, the company’s profit after tax stood at Rs 14.42 crore.
Quadrant Future Tek GMP Details
As of January 8, 2025, Quadrant Future Tek's IPO is exhibiting a strong Grey Market Premium (GMP) of Rs 210 per share. This suggests that the company's shares are trading at a 72.41% premium over the upper IPO price band of Rs 290, indicating a potential listing price of approximately Rs 500 per share.
Disclaimer: The GMP (Grey Market Premium) price is 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 we recommend or endorse trading in the grey market.
Key Ratios
|
Year |
FY23 |
|
ROE |
61.76% |
|
ROCE |
27.19% |
|
EBITDA Margin |
17.37% |
|
PAT Margin |
9.10% |
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