Quadrant Future Tek IPO: A Leap Towards Rail Safety Innovation

Quadrant Future Tek Ltd is launching a Rs 290-crore IPO, scheduled to open on January 7. The funds will be allocated to enhance working capital, develop an interlocking system, repay debt, and cover corporate expenditures. The firm specializes in train control systems and cable manufacturing.

Quadrant Future Tek Ltd has set the price band for its Rs 290-crore initial public offering (IPO) at Rs 275-290 per equity share. The IPO will be open for public subscription from January 7 to January 9, with anchor investor bidding commencing on January 6.

The IPO represents a fresh issue amounting to Rs 290 crore and does not include an offer for sale. Funds from the IPO will be directed towards enhancing the company's long-term working capital needs, alongside funding the development of an electronic interlocking system and debt repayment.

Based in Mohali, Quadrant Future Tek specializes in developing next-generation train control systems under the KAVACH project of Indian Railways. It also manufactures specialty cables for the railway and naval sectors. The company's shares are set to list on BSE and NSE.

(With inputs from agencies.)