Quadrant Future Tek IPO Day 1 Live Updates: Quadrant Future Tek Ltd begins its public subscription on Tuesday, January 7. The company has the price range ahead of it ₹290 crore initial public offering (IPO) between ₹275 and ₹290 per share, which runs until Thursday, January 9.
On Monday, Quadrant Future Tek announced that it had secured funding ₹130 crore from anchor investors just a day prior to the opening of the first share sale to the public. The whole ₹The Rs 290 crore IPO consists solely of a new issue, with no portion earmarked for an offer for sale.
The funds raised from this issue will be used to meet long-term working capital needs. Proceeds from the IPO will also contribute to capital expenditures related to the development of the electronic interlock system and debt repayment, and the remainder will be used for general corporate purposes.
Quadrant is a research-driven company focused on creating advanced train control and signaling systems as part of Indian Railways’ KAVACH project, providing utmost safety and reliability to train passengers. In addition, the company operates a specialized cable production facility with an electron beam irradiation center, producing cables used in railway rolling stock and the maritime defense sector.
Quadrant Future Tek IPO Day 1 Live Updates: View anchor details
On Monday, Quadrant Future Tek announced that it has more than secured ₹130 crore from anchor investors a day ahead of the opening of the initial public offering (IPO) for public subscription.
Investors included WhiteOak Capital Mutual Fund, Kotak Mutual Fund, LIC Mutual Fund, Bank of India Mutual Fund, Citigroup Global Markets Mauritius, Ashoka WhiteOak ICAV, Bengal Finance and Investments Shubhkam Venture (I) Pvt Ltd and Capri Global Capital. others, as stated in a circular published on BSE’s website.
The circular indicated that Quadrant Future Tek has allotted 45 lakh shares to 22 entities at a price of ₹290 per share, which represents the upper end of the price range.
Quadrant Future Tek IPO Day 1 Live Updates: Here’s what GMP indicates on the first day of bidding
Quadrant Future Tek IPO GMP today is +210. This indicates that Quadrant Future Tek’s share price is at a premium of ₹210 on the gray market, according to investorgain.com.
Taking into account the upper end of the IPO price range and the current gray market premium, the estimated listing price of Quadrant Future Tek’s share price is indicated at ₹500 each, which is 72.41% higher than the IPO price of ₹290.
Analyzing the gray market activities over the past nine sessions, the IPO GMP is showing an upward trend today, indicating a robust listing. The minimum registered GMP is ₹0, while the maximum GMP is set to ₹210, according to insights from experts at investorgain.com.
The ‘grey market premium’ indicates that investors are willing to pay more than the issue price.
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