Quadrant Future Tek Ltd Soars on Market Debut

Quadrant Future Tek Ltd witnessed a robust market debut with its shares listing at a 29% premium. The IPO, which attracted strong investor interest, saw proceeds directed towards enhancing working capital and developing advanced train control systems. The company operates in train systems and specialty cable manufacturing.

Quadrant Future Tek Ltd made a significant splash in the stock market on Tuesday, with shares listing at a 29% premium over their issue price of Rs 290. The stock surged to Rs 374 on the BSE and further to Rs 448.75, marking a strong investor interest.

On the NSE, the shares opened at Rs 370, representing a 27.58% rise. The company's market capitalization has reached Rs 1,795 crore. Quadrant's IPO, without an offer for sale component, attracted remarkable attention with a 185.82 times subscription.

The company's IPO proceeds, amounting to Rs 290 crore, will address long-term working capital needs, capital expenditures for the electronic interlocking system, debt reduction, and general corporate purposes. Quadrant continues its focus on developing cutting-edge train control systems and manufacturing specialty cables.

(With inputs from agencies.)