Quadrant Future Tek IPO: Bidding for the initial public offering (IPO) began on 7 January 2025 and will remain open until 5:00 PM on 9 January 2025. This means there will be just one day to apply for the book build issue, which aims to raise ₹290 crore by issuing fresh shares. The company has declared Quadrant Future Tek’s IPO price band to be ₹275 to ₹290 per equity share. Meanwhile, after two days of bidding, the grey market continues to remain bullish on Quadrant Future Tek shares following strong Quadrant Future Tek IPO subscription status. According to stock market observers, Quadrant Future Tek IPO GMP (Grey Market Premium) today is ₹210, 72 per cent higher than the upper price band of the public issue.
Quadrant Future Tek IPO GMP today
As mentioned, Quadrant Future Tek’s IPO GMP today is ₹210, ₹29 higher than Quadrant Future Tek’s IPO GMP of ₹181 on day one of bidding. So, in two days, Quadrant Future Tek IPO GMP has surged from 181 to ₹210, which can be attributed to two significant reasons: the Indian stock market bouncing back from the recent lows (23,500) and strong Quadrant Future Tek IPO subscription status. They said that the grey market mood may further improve if the public issue continues to draw the attention of the primary market investors on day three of bidding.
Quadrant Future Tek IPO subscription status
By 10:45 AM on day 3 of bidding, the book build issue has been subscribed 158.66 times, the retail portion of the public issue has been booked 158.66 times, and the NII portion of the initial offer has been filled 114.85 times. The QIB portion of the mainboard IPO has been subscribed to 49 per cent.
Quadrant Future Tek IPO review
Giving a ‘subscribe’ tag to the book build issue, the Marwadi Shares and Finance said, “Considering the FY24 Sales of ₹152 Cr, the company is going to list at an MCap/Sales of 7.64x with a market cap of ₹1,160.11 Cr, whereas its peers Kernex Micro Systems Limited, HBL Power Systems Limited, Apar Industries Limited and Polycab India Limited Ltd are trading at MCap/Sales ratio of approximately ~27.5x, ~7.72x, ~2.47x and ~5.55x respectively. We assign a “Subscribe” rating to this IPO as the company has domain expertise in Signalling and Train controls. Also, it is available at a reasonable valuation compared to its peer.”
Nirmal Bang has also assigned a ‘buy’ tag to the public issue, saying, “Based on peer comparison, Quadrant Future Tek Limited stands out with a healthy 24% EBITDA margin and impressive returns, including a 21% ROCE and 33% ROE, which highlight its profitability and operational efficiency. The company’s EV/order book ratio is reasonable at 1.3x. Considering these factors and its advanced technology, expanding order book, and long-term growth prospects, we assign a Subscribe rating to this IPO.”
In addition, BP Equities, Canara Bank Securities, INDSEC Securities, KR Choksey Securities, Master Capital Services, SBI Capital Securities, SMIF Securities, and Ventura Securities have also assigned a ‘Subscribe’ tag to the book build issue.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
