Quadrant Future Tek Ltd. is scheduled to finalise the IPO share allotment status on Friday, Jan. 10.

The Rs 290-crore initial public offering closed on Jan. 9 with overwhelming demand from investors. Investors applied for 1,08,26,32,500 shares in comparison to 57,99,999 shares on offer, resulting in an oversubscription of 186.60 times, as per data by NSE.

Quadrant Future Tek IPO was an entirely fresh issue of 1 crore shares, offered at a price band of Rs 275 to Rs 290 per piece.

The demand for Quadrant Future Tek IPO was led by Non-Institutional Investors (NIIs), who subscribed their category 254.71 times. The NIIs placed bids for 40,29,08,900 shares against 15,81,818 shares offered to them. Qualified institutional buyers (QIBs) bid for 41,93,10,850 shares against 31,63,636 on offer, resulting in an oversubscription of 132.54 times.

The retail portion of the Quadrant Future Tek IPO was booked 246.94 times. The retail investors applied for 26,04,12,750 shares against the 10,54,545 shares set aside for them.

Investors who bid for the Quadrant Future Tek IPO can check the status of the allotment of shares on the official websites of BSE, NSE and the issue’s registrar, Link Intime India Pvt.

How to Check Quadrant Future Tek IPO Allotment Status on BSE

  • Open the IPO Application Status page of BSE here.

  • Under the Issue Type option, select ‘Equity’.

  • Select ‘Quadrant Future Tek Ltd.’ from the issue name dropdown.

  • Enter your IPO application number or PAN details.

  • Verify the Captcha code to proceed.

  • Click Submit to check the details of the allotment status.

Steps to Check Quadrant Future Tek IPO Allotment Status On Link Intime

  • Open the IPO allotment page on the Link Intime India website here.

  • Select ‘Quadrant Future Tek Ltd.’ from the list of companies in the dropdown menu.

  • Select any of the options displayed on the screen— PAN, Application Number, DP/Client ID or Account Number/IFSC.

  • Enter the required details based on your selection.

  • Click on ‘Submit’ to check allotment details.

Quadrant Future Tek IPO Listing Date

Investors who failed to secure their quota of shares can expect the initiation of refunds by Monday, Jan. 13. The credit of shares to the Demat accounts of successful investors will also happen on the same day. Shares of Quadrant Future Tek are slated to list on the BSE and NSE on Tuesday, Jan. 14.

Use Of Proceeds

Quadrant Future Tek has proposed to use the net proceeds from the IPO to fund long-term capital requirements and capital expenditure for the development of an electronic interlocking system. A part of the proceeds will be used for settling debts and general corporate purposes.

Quadrant Future Tek Ltd. offers advanced solutions, developing next-generation Train Control and Signalling Systems for the Indian Railways’ KAVACH project. The company develops products that comply with the standard requirements of ISO, IRIS, and TS, and follow the rigorous Quality Management Systems for specialty cables.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.Quadrant Future Tek IPO received a tremendous response from investors as the public issue was booked over 185 times.  Read MoreIPOs, Markets, Trending 

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