Quadrant Future Tek, a company enhancing the security systems for Indian Railways, had an impressive debut on the stock exchange.
The IPO, with an issue price of ₹290 per share, got listed at ₹374, marking a 30.71% increase. Investors who secured allotment in the IPO earned a profit of ₹84 per share.
On the Bombay Stock Exchange (BSE), Quadrant Future Tek’s shares opened at ₹374, climbed to ₹390, and are currently trading at ₹381.90, a 2.11% rise.
On the National Stock Exchange (NSE), the shares opened at ₹370, peaked at ₹389.90, and are now trading at ₹382.70, showing a 3.42% gain.
IPO Details and Investor Response
Quadrant Future Tek’s IPO was open for investment from January 7 to January 9, raising ₹290 crore entirely through the issuance of new shares.
The price band was set at ₹275-₹290 per share, with a face value of ₹10 per share.
The IPO received an overwhelming response, being subscribed 196 times. Retail investors showed significant enthusiasm, with their reserved quota subscribed 256 times.
Institutional and non-institutional investor quotas were subscribed 139.77 times and 268 times, respectively. Overall, applications worth ₹31,256 crore were received for the ₹290 crore IPO.
About Quadrant Future Tek
Established in September 2015, Quadrant Future Tek Limited develops next-generation train control and signaling systems under the Indian Railways’ Kavach project, aiming to enhance rail safety.
The company also operates a specialized cable manufacturing facility and an Electron Beam Irradiation Centre.
