The initial public offering of Quadrant Future Tek Ltd. has been garnering strong interest in the unlisted market ahead of its launch on Jan. 7. The grey market premium on the Quadrant Future Tek stood at Rs 210 at 8:55 a.m. on Jan. 7, marking a premium of over 72.41% over the upper price band, as per InvestorGain.
If the current grey market trends are sustained, the company’s shares are likely to debut at Rs 500 apiece on the BSE and NSE.
The GMP trend has shown an upward movement since the announcement of the IPO price band. The grey market premium for Quadrant Future Tek was Rs 140 on Jan. 4 before climbing to Rs 180 on Jan. 5.
However, the Quadrant Future Tek IPO GMP may change once the subscription window opens today.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Quadrant Future Tek IPO: Price Band And Offer Size
Quadrant Future Tek IPO is a book-built issue consisting entirely of a fresh issue of 1 crore shares offered at a price band of Rs 275 to 290 apiece with a face value of Rs 10 per share. This takes the total issue size to Rs 290 crore at the upper price band.
The company has reserved up to 75% of the net issue for qualified institutional buyers, 10% for retail investors and the remaining 15% for non-institutional investors.
Retail investors can bid in this mainboard IPO with a minimum lot size of 50 shares requiring an investment of Rs 14,500 for every application.
The application window for Quadrant Future Tek IPO will be open between Jan. 7 and Jan. 9. The share allotment will be done on Jan. 10 followed by credit of shares into the Demat account of successful bidders on Jan. 13. Initiation of the refunds will also be done on the same date.
Shares of Quadrant Future Tek Ltd. are scheduled to make their market debut on Jan. 14.
Sundae Capital Advisors Pvt. is the sole book-running lead manager for the Quadrant Future Tek IPO whereas Link Intime India Pvt. is its registrar.
About Quadrant Future Tek Ltd.
Quadrant Future Tek Ltd. specialises in advanced solutions, developing next-generation Train Control and Signaling Systems for the Indian Railways’ KAVACH project.
Incorporated in 2015, the company has its registered office in Village Basma, Mohali with corporate operations located on Airport Road in the same region
The company develops products that meet the standard requirements of ISO, IRIS, and TS and follow strict Quality Management Systems for speciality cables.
The company posted a revenue of Rs 65.14 lakh with a net loss of Rs 12.11 lakh in the six months ending in September 2024.
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 Ltd. specialises in advanced solutions, developing next-generation Train Control and Signaling Systems for the Indian Railways’ KAVACH project. Read MoreIPOs, Trending
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