Quadrant Future Tek IPO Day 2: Issue subscribed 44 times so far; RII, HNI portions fully booked

Quadrant Future Tek IPO: The initial public offering (IPO) of Quadrant Future Tek garnered strong investor interest with a subscription of 44.53 times so far in the second-day bidding process.

On January 8, 2025, the IPO received bids for 25,82,80,350 shares against 57,99,999 shares on offer until 3:45 pm, as per the BSE data.

The retail individual investor (RII) category saw the highest number of applications with a subscription of 129.28 times. The non-institutional investor (NII) portion was subscribed 76.57 times, while the qualified institutional buyer (QIB) category received a 26 per cent subscription.

ALSO READ | Quadrant Future Tek IPO Day 2: Issue subscribed over 29 times so far; RII, HNI portions fully booked

Ahead of opening its share sale, the company raised over Rs 130 crore from anchor investors on Monday, January 6, 2025. The company has launched the public issue with a price band between Rs 275 and Rs 290/share. It will be concluded on Thursday, January 9, 2025.

Key Details of Quadrant Future Tek IPO

Issue size: Rs 290 crore, entirely through a fresh equity issuance.

Use of proceeds:

• Long-term working capital requirements
• Capital expenditure for the development of an electronic interlocking system
• Debt repayment
• General corporate purposes

Quadrant Future Tek IPO: BRLMs and Registrar

• Book-running lead manager: Sundae Capital Advisors
• Registrar: Link Intime India Ltd

ALSO READ | Quadrant Future Tek IPO Day 1: Issue subscribed 15.84x; RII, HNI portions fully booked

About Quadrant Future Tek

Quadrant Future Tek Ltd is a company developing next-generation train control and signalling systems under the KAVACH project of Indian Railways. The KAVACH system provides the highest levels of safety and reliability for rail passengers. The company also operates a speciality cable manufacturing facility equipped with an electron beam irradiation centre.