Quadrant Future Tek IPO: Share Allotment Likely Today, GMP Hints Strong Listing; How To Check Status?

Quadrant Future Tek Limited, the Punjab-based company specializing in next-generation Train Control and Signalling Systems, is set to finalize the allotment of its Rs 290-crore Initial Public Offering (IPO) on Friday, January 10, 2025. Following the allotment, the company's shares are scheduled to make their debut on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on January 14.

The IPO, which was open for subscription from January 7 to 9, has seen strong demand, with the subscription reaching an impressive 186.66 times on the final day. The price band for the issue was set at Rs 275-290 per share.

Subscription Details

The IPO attracted an enthusiastic response from all segments of investors. The Qualified Institutional Buyers (QIBs) portion was subscribed 132.54 times, and Non-Institutional Investors (NIIs) showed even greater interest, with a subscription of 254.71 times. Retail investors also displayed healthy participation, with their portion being oversubscribed 247 times.

This stellar demand reflects the market's optimism about the company's prospects, especially given its specialized offerings in critical industries such as railways, defence, and the growing solar and electric vehicle (EV) sectors.

How to Check the Allotment Status?

Investors who applied for the Quadrant Future Tek IPO can now check their allotment status online. The allotment process will be finalized on January 10, and successful applicants will have their shares credited to their demat accounts on January 13. Meanwhile, unsuccessful applicants will receive their refunds on the same day.

There are two ways to check the allotment status:

Via the BSE Website:
Visit the IPO allotment page on the BSE website.
Select 'Equity' under the issue type.
Choose 'Quadrant Future Tek' from the dropdown menu.
Enter your application number or PAN.
Click 'Search' to view the status.

Via Link Intime India Website:

Go to the IPO section on the Link Intime website.
Select 'Quadrant Future Tek' from the dropdown menu.
Enter your PAN, application number, or DP/Client ID.
Click 'Submit' to check the status.

IPO Details

The Rs 290-crore IPO is a fresh equity issue of 1 crore shares at the upper price band. The company intends to use the proceeds for multiple growth initiatives, including enhancing its working capital for the specialty cable division, supporting capital expenditures for the development of an electronic interlocking system, repaying working capital term loans, and other corporate purposes.

On January 6, 2025, Quadrant Future Tek raised Rs 130.5 crore from 15 institutional investors, further boosting the company's financial position as it prepares for its public listing.

Company Overview

Quadrant Future Tek is at the forefront of providing state-of-the-art solutions in the railway signalling and control systems industry. The company specializes in the development of next-generation Train Control and Signalling Systems, particularly under the Indian Railways' KAVACH project.

Additionally, the company operates a specialized cable manufacturing facility that produces cables for railway rolling stock and the defence (naval) industry. The facility also manufactures solar and electric vehicle (EV) cables.