4 hours ago
Quadrant Future Tek Limited will finalise the allotment of its Initial Public Offering (IPO) on Friday, January 10. The company’s shares are set to debut on the BSE and NSE on January 14.
The ₹290-crore IPO, open for subscription from January 7 to 9, witnessed strong demand, with an overall subscription of 186.66 times on the final day. The price band was set at ₹275-290 per share.
The qualified institutional buyers (QIBs) segment of the Quadrant Future Tek IPO was subscribed 132.54 times, while non-institutional investors (NIIs) showed even greater enthusiasm, with a subscription of 254.71 times. Retail investors also participated actively, subscribing to their allotted portion 247 times.
How to check Quadrant Future Tek IPO allotment status
Investors can check their allotment status via the BSE website or through Link Intime India Private Limited, the IPO registrar.
On the BSE Website:
1. Go to the IPO allotment page on the BSE website.
2. Select ‘Equity’ under the issue type.
3. Choose ‘Quadrant Future Tek’ from the dropdown menu.
4. Enter your application number or PAN.
5. Click ‘Search’ to view the status.
On Link Intime India Private Limited Website:
1. Visit the IPO section on the Link Intime website.
2. Select ‘Quadrant Future Tek’ from the dropdown menu.
3. Enter details such as PAN, application number, or DP/Client ID.
4. Click ‘Submit’ to check your status.
Shares of Quadrant Future Tek will be credited to successful applicants’ demat accounts, and refunds will be processed for unsuccessful applicants on January 13.
Quadrant Future Tek IPO Details
The Quadrant Future Tek IPO is entirely a fresh equity issue of 1 crore shares worth ₹ 290 crore at the upper price band.
Proceeds will be used for supporting long-term working capital for the speciality cable division, capital expenditure for developing an electronic interlocking system, repaying working capital term loans and general corporate purposes.
On January 6, the Punjab-based company raised ₹130.5 crore from 15 institutional investors.
About Quadrant Future Tek
Quadrant Future Tek specialises in developing next-generation Train Control and Signalling Systems under the KAVACH project by Indian Railways. It also operates a speciality cable manufacturing facility featuring an Electron Beam Irradiation Centre.
The speciality cables are utilised in railway rolling stock and the defence (naval) industry. Additionally, the facility has end-to-end infrastructure for producing solar and EV cables.
First Published:
Jan 10, 2025 10:41 AM
IST
