Quadrant Future Tek IPO: Public Issue Subscribed 8x Within 3 Hours, GMP Hints Stellar Listing; Key Details

The initial public offering (IPO) of Quadrant Future Tek Limited has officially opened today, January 7, 2025, to positive investor sentiment and strong demand in the primary market. The IPO, which is entirely a fresh issue, aims to raise Rs 290 crore. The bidding for the Quadrant Future Tek IPO will remain open until 5:00 pm on January 9, 2025, with the price band set between Rs 275 and Rs 290 per equity share.

Ahead of the subscription opening, Quadrant Future Tek has garnered significant interest from anchor investors, securing Rs 130.50 crore in investments.

Grey Market Sentiment

In addition to the strong anchor investor response, the grey market has been buzzing with positive sentiments. According to stock market observers, shares of Quadrant Future Tek are currently commanding a premium of Rs 181 in the grey market.

Subscription Status

As of 1 pm on the first day of bidding, the IPO has already received an overwhelming response. The book-built issue has been subscribed 8.15 times, with the retail portion seeing a massive subscription of 30.77 times. Meanwhile, the Non-Institutional Investor (NII) segment has been filled 9.35 times.

Key Details

Price Band: The price band for the Quadrant Future Tek IPO has been set between Rs 275 and Rs 290 per equity share.
IPO Size: The company is looking to raise Rs 290 crore through the entirely fresh book-built issue.
Lot Size: A minimum of 50 shares must be bid for in one lot.
GMP (Grey Market Premium): Shares are currently trading at a premium of Rs 181 in the grey market, further adding to investor optimism.
Subscription Dates: The IPO opens today and will remain open until 9 January 2025.
Allotment Date: The allotment of shares is expected to occur on Friday, January 10, 2025.
Registrar: Link Intime India Private Limited has been appointed as the registrar for the IPO.
Lead Manager: Sundae Capital Advisors is managing the IPO as the lead manager.
Listing Date: The listing of Quadrant Future Tek shares is anticipated to take place on Tuesday, January 14, 2025.

About Company

Quadrant Future Tek Limited is a company that specializes in providing technology solutions and services across multiple industries. The company has positioned itself in the technology space, leveraging its expertise to deliver innovative products and services that cater to a wide range of business needs.