The IPO market is going to be buzzing even in the year 2025. The second IPO of Quadrant Future Tek of the new year is going to hit the market from today. The company is working on developing new generation train control and signaling systems based on research under the shield in indian railway operations. The IPO of Quadrant Future Tek will be open for investment from 7 to 9 January.
The price band is Rs 275 - 290 per share
Quadrant Future Tek is going to raise Rs 290 crore through IPO. The entire money in the IPO is being raised by issuing completely new shares. For shares with a face value of Rs 10, the company has fixed a price band of Rs 275 - 290 per share. Investors can apply for a minimum of Rs 14500 per lot. Retail investors can apply for a maximum of 13 lots for which they will have to pay Rs 1,88,500.
Listing on Stock Exchange on january 14
Anchor investors have participated enthusiastically in the IPO of Quadrant Future Tek. The company has raised Rs 130.50 crore from anchor investors. The IPO was open for applications from anchor investors on january 6. Allotment in the IPO will be decided on january 10, 2025. Refunds will be issued on january 13. Shares will be transferred to the demat accounts of successful investors on january 13 itself. The IPO of Quadrant Future Tek will be listed on BSE and NSE on january 14, 2025. The promoters' holding in the company before the IPO was 93.33 per cent, which will come down to 70 per cent after the IPO.
Strong response to IPO in grey market
In the grey market, the GMP of Quadrant Future Tek's IPO is trading at Rs 210. Successful investors are expected to get a return of 72.41 percent on listing from the upper level of the IPO's price band of Rs 290. That is, the IPO can be listed on the stock exchange at Rs 500.
What does the company do?
Quadrant Future Tech Limited was set up in september 2015 which is developing next generation train control and signalling systems for the Kavach project of indian Railways to make rail travel safer. The company also has a specialised cable manufacturing facility along with an Electron Beam Irradiation Centre.
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