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Unlisted shares of Quadrant Future Tek Ltd are currently trading at Rs 430 per share in the grey market, which is Rs 140 or 48.28 per cent higher than the IPO issue price of Rs 290. It indicates a strong listing on January 14.
Quadrant Future Tek IPO Listing On Tuesday; Check GMP.
Quadrant Future Tek IPO Listing Date: Quadrant Future Tek Ltd, which saw its IPO last week, is set to be listed on both BSE and NSE on Tuesday. According to market observers, the grey market premium (GMP) currently stands at 48.28 per cent, indicating a strong listing gain for investors on Tuesday.
The allotment of the Quadrant Future Tek IPO was finalised on Friday.
The initial public offering of Quadrant Future Tek Ltd, which was opened on between January 7 and January 9, received an overwhelming 195.96 times subscription. The retail category received a whopping 256.46 times subscription in total, the NII (non-institutional investors) portion got 268.03 times subscription. Its QIB (qualified institutional buyer) category has been subscribed by 139.77 times.
The price band of the IPO was fixed at Rs 275 to Rs 290 apiece.
As the IPO allotment has already been finalised, investors can also check the IPO allotment status on the websites of BSE and NSE, as well as on registrar Link Intime India’s portal.
Quadrant Future Tek IPO GMP Today
According to market observers, unlisted shares of Quadrant Future Tek Ltd are currently trading at Rs 430 per share in the grey market, which is Rs 140 or 48.28 per cent higher than the IPO issue price of Rs 290. It indicates a strong listing on January 14.
Though the 48.28 GMP is lower than the 65.5 per cent premium recorded on the last day of bidding, it still signals a robust listing on the stock exchanges.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Quadrant Future Tek IPO: How To Check Allotment Status Online?
The IPO allotment status can be checked online by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Quadrant Future Tek Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime India’s portal — and check the Quadrant Future Tek IPO allotment status.
Quadrant Future Tek IPO: More Details
The Rs 290-crore Initial Public Offering (IPO) is entirely a fresh issue of up to Rs 290 crore with no offer of sale component.
The net proceeds from its fresh issuance will be used to fund the long-term working capital requirements.
Quadrant Future Tek on Monday raised over Rs 130 crore from anchor investors.
IPO proceeds will also be used towards capital expenditures on the development of the electronic interlocking system, debt repayment and the balance for general corporate purposes.
Quadrant is a research-oriented company, engaged in developing new-generation train control and signalling systems under the KAVACH project of the Indian Railways that offers the highest level of safety and reliability to rail passengers.
It also possesses a speciality cable manufacturing facility with an electron beam irradiation centre. The cables manufactured by the Mohali-based firm are used in railways rolling stock and Naval (defence) industry.
For the speciality cable division, the company had an installed capacity of 1,887.60 metric tonnes as of September 30, 2024.
Sundae Capital Advisors is the sole book-running lead manager to the issue.
