Quadrant Future Tek IPO made a strong debut on the exchanges with its stock listing at ₹370 on NSE and ₹374 on BSE, reflecting a 29% premium over the issue price of ₹290. The ₹290 crore IPO, which garnered an overwhelming subscription of 185 times, values the company at a ₹1,160 crore market cap post-issue.
Quadrant Future Tek IPO Subscription Status
The IPO saw a strong subscription across all categories. Qualified Institutional Buyers (QIBs) bid for 132.54 times the shares allocated to them, with Foreign Institutional Investors (FIIs), Domestic Financial Institutions, and Mutual Funds contributing significantly. Non-Institutional Investors (NIIs) subscribed 254.71 times, with those bidding over ₹10 lakh accounting for 260.07 times and those bidding between ₹2 lakh to ₹10 lakh subscribing 244 times. Retail Individual Investors (RIIs) subscribed 246.94 times the available shares. The overall subscription was 186.66 times the total shares offered.
Quadrant Future Tek IPO GMP
Ahead of their listing, shares of Quadrant Future Tek were commanding a grey market premium (GMP) of ₹120, signaling an expected listing gain of over 41%. However, the stock debuted at ₹370 on the NSE, representing a 29% premium over the issue price, while on BSE, it listed at ₹374, also reflecting a 29% premium. The listing price was lower than the expected GMP, but still delivered a strong debut.
About Quadrant Future Tek IPO
The Quadrant Future Tek IPO Opened for subscription from January 7 to January 9, 2025, with a price band of ₹275 to ₹290 per share. The company is offering a total of ₹290 crore through a fresh issue of shares. The IPO is expected to debut on January 14, 2025.
Retail Investors:
- Minimum lot size: 50 shares (₹14,500)
- Investment range: ₹14,500 per lot
Non-Institutional Investors (NII):
- sNII (Small NII): Minimum lot size: 700 shares (₹2,03,000)
- bNII (Big NII): Minimum lot size: 3,450 shares (₹10,00,500)
About Quadrant Future Tek Company
Quadrant Future Tek Limited, established in 2015, specializes in specialty cables and advanced train control systems for industries such as railways, defense, aerospace, and electric vehicles. The company is known for its fire-resistant cables and the Kavach system, which enhances rail safety. It has an exclusive partnership with RailTel Corporation of India for long-term working capital and develops in-house railway signaling products.
Challenges include promoter disputes, reliance on a single facility in Punjab, dependency on Indian Railways policies, and revenue uncertainty due to reliance on tenders and purchase orders.
Financial Information
For the period ended December 2023, the company reported a revenue of ₹100.41 crores, with expenses totaling ₹79.75 crores. This resulted in a profit after tax (PAT) of ₹14.42 crores. The company’s assets at the end of December 2023 were valued at ₹132.87 crores.
In comparison, for the full year 2023, the revenue was ₹152.95 crores, with ₹133.01 crores in expenses and a PAT of ₹13.90 crores, while assets stood at ₹118.82 crores. In 2022, the company generated ₹104.29 crores in revenue, incurred ₹101.34 crores in expenses, and achieved a PAT of ₹1.94 crores, with assets amounting to ₹112.77 crores. For 2021, revenue was ₹72.89 crores, expenses were ₹67.03 crores, leading to a PAT of ₹4.81 crores, and assets were valued at ₹58.69 crores.