Quadrant Future Tek IPO Skyrockets with 3.34 Times Subscription

The initial public offering (IPO) of Quadrant Future Tek Ltd was fully subscribed within minutes, with subscriptions 3.34 times over the offer. Retail investors led with a 13.79 times over-subscription. The company raised Rs 130 crore from anchor investors, aiming to develop train control systems and enhance working capital.

Quadrant Future Tek Ltd's initial public offering (IPO) has captured significant market attention, being fully subscribed just minutes after its debut on Tuesday.

The IPO received bids for 1,93,57,350 shares against an offering of 57,99,999 shares, marking a subscription rate of 3.34 times, according to data from the National Stock Exchange as of 10:57 hours.

In particular, the segment allocated to Retail Individual Investors (RIIs) saw an impressive subscription rate of 13.79 times, while non-institutional investors accounted for a 3.03 times subscription.

(With inputs from agencies.)