Quadrant Future Tek IPO Skyrockets with 15.84x Subscription

Quadrant Future Tek Ltd's IPO experienced an impressive reception, with demand exceeding expectations at 15.84 times subscription. Garnering 9,18,47,850 bids against 57,99,999 shares on offer, the IPO will aid in funding long-term working capital needs and advance Quadrant's innovative train management systems.

The initial public offering (IPO) of Quadrant Future Tek Ltd has become a significant talking point, as the company saw an overwhelming 15.84 times subscription shortly after opening. The IPO was fully subscribed within minutes of launching on Tuesday.

According to data from the National Stock Exchange (NSE), Quadrant Future Tek received bids for 9,18,47,850 shares against the 57,99,999 shares on offer. This reflects strong interest across various investor categories, including retail individual investors, whose portion reached a 54.72 times subscription, and non-institutional investors, who offered 21.49 times. Meanwhile, Qualified Institutional Buyers (QIBs) had a 5% subscription.

The Rs 290-crore IPO, priced between Rs 275 and Rs 290 per share, is slated to close on Thursday. Proceeds are earmarked for long-term capital requirements, including investment in innovative train control and signalling systems. Quadrant Future Tek is a pivotal player in India's railway safety, as seen in the KAVACH project.

(With inputs from agencies.)