Quadrant Future Tek IPO Day 1 Live Updates: Quadrant Future Tek Ltd will begin its public subscription on Tuesday, January 7. The company has set the price range for its ₹290-crore initial public offering (IPO) between ₹275 and ₹290 per equity share, which will run until Thursday, January 9.
On Monday, Quadrant Future Tek announced that it had secured over ₹130 crore from anchor investors just a day prior to opening its initial share sale to the public. The entire ₹290-crore initial public offering consists solely of a new issue with no portion dedicated to an offer for sale.
The funds raised from this issuance will be directed towards fulfilling long-term working capital needs. The proceeds from the IPO will also contribute to capital expenditures related to the development of the electronic interlocking system, repayment of debt, and the remainder will be utilized for general corporate purposes.
Quadrant is a research-driven company focused on creating advanced train control and signaling systems as part of the Indian Railways’ KAVACH project, which provides the utmost safety and reliability for rail travelers. Additionally, the company operates a specialized cable manufacturing facility that includes an electron beam irradiation center, producing cables that are utilized in railway rolling stock and the naval defense sector.
Quadrant Future Tek IPO Day 1 Live Updates: Here’s what GMP hints on the first bidding day
Quadrant Future Tek IPO GMP today is +210. This indicates Quadrant Future Tek share price was trading at a premium of ₹210 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Quadrant Future Tek share price is indicated at ₹500 apiece, which is 72.41% higher than the IPO price of ₹290.
Analyzing the grey market activities from the past 9 sessions, the IPO’s GMP shows an upward trend today, indicating a robust listing. The minimum GMP recorded is ₹0, while the maximum GMP stands at ₹210, as per insights from investorgain.com experts.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
