Quadrant Future Tek IPO: Book-Built Issue of Rs 290 Cr To Open On 7th Jan, GMP Soars 62%; Check Price Band

For the initial public offering, Quadrant Future Tek Limited has set the price range of Rs 275 to Rs 290 per equity share, with a face value of Rs 10 apiece. The company's Initial Public Offering (IPO) will go live for subscriptions on Tuesday, January 07, 2025, and end on Thursday, January 09, 2025.

The book-built issue is entirely a fresh issue of up to Rs 290 crore with no offer of sale component. Investors can bid for a minimum of 50 equity Shares and in multiples of 50 equity shares thereafter.

Up to Rs 149.72 crore of the proceeds from its fresh issue will be used for funding the company's long-term working capital needs (Speciality Cable Division); Rs 24.37 crore for capital expenditures to develop an electronic interlocking system; Rs 23.62 crore for the prepayment or repayment of all or a portion of the company's outstanding working capital term loans; and general corporate purposes.

Link Intime India Private Limited is the issue's registrar, while Sundae Capital Advisors Private Limited is the only book-running lead manager. A minimum of 75% of the issue will be proportionately available for allocation to qualified institutional buyers, 15% will be available for allocation to non-institutional investors, and no more than 10% will be available for allocation to retail individual bidders. The issue is being made through the book-building process.

On Friday, January 10, 2025, the allocation for the Quadrant Future Tek IPO is anticipated to be finalised. The anticipated listing date for the Quadrant Future Tek IPO is set for Tuesday, January 14, 2025, and it will be listed on the BSE and NSE.

In addition to having a speciality cable manufacturing facility with an Electron Beam Irradiation Centre, Quadrant is a research-focused company that is working on creating new generation train control and signalling systems for Indian Railways that provide the highest level of safety and dependability to rail passengers. The railway rolling stock and naval (defence) industries employ the company's speciality cables. Additionally, the plant has the end-to-end infrastructure needed to produce EV and solar cables. Located in Village Basma, Tehsil Banur, District Mohali, Punjab, the company has a single facility for producing, testing, researching, and developing specialty cables as well as the hardware needed for the Train Control & Signalling Division.

The current GMP for the Quadrant Future Tek IPO is Rs 180, and it was last updated at 10:58 AM on January 5, 2025 as per https://www.investorgain.com/. The anticipated listing price for the Quadrant Future Tek IPO is Rs 470 (upper price band + current GMP), considering the upper price band being Rs 290.00. Therefore, according to the current GMP, the Quadrant Future Tek IPO is anticipated to be listed at a premium of 62.07% above the issue price on the day of listing.