Quadrant Future Tek IPO Day 3 Live Updates: The initial public offering of Quadrant Future Tek Ltd saw a subscription rate of 48.99 times by the second day of the share sale on Wednesday. The segment for Retail Individual Investors (RIIs) attracted a subscription rate of 137.21 times, while the non-institutional investors’ quota was subscribed 87.22 times.
The Qualified Institutional Buyers (QIBs) portion experienced a 46 percent subscription rate. The Initial Public Offering (IPO) of Quadrant Future Tek Ltd was fully subscribed within moments of its opening for share sale on Tuesday, finishing the day with a subscription rate of 15.84 times.
Quadrant Future Tek Ltd launched its public subscription on Tuesday, January 7. The company has established a price range between ₹275 and ₹290 per equity share for its ₹290-crore initial public offering (IPO), which will be open until Thursday, January 9. On Monday, Quadrant Future Tek revealed that it had raised over ₹130 crore from anchor investors just a day before the public share sale commenced. The total ₹290-crore initial public offering consists entirely of a new issue, with no portion allocated for an offer for sale.
The funds generated from this issuance will be allocated to meet long-term working capital requirements. The proceeds from the IPO will also be used for capital expenditures associated with the development of the electronic interlocking system, debt repayment, and the remaining funds will be applied to general corporate purposes.
Quadrant is a research-oriented company dedicated to developing advanced train control and signaling systems as part of the Indian Railways’ KAVACH initiative, which ensures maximum safety and reliability for rail passengers. Furthermore, the company runs a specialized cable manufacturing facility that features an electron beam irradiation center, producing cables that serve both railway rolling stock and the naval defense industry.
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Quadrant Future Tek IPO Day 3 Live Updates: Here’s what GMP hints on the third 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.
Grey market activity over the past 11 sessions indicates that today’s IPO GMP is positive and anticipates a successful listing. An expert on investorgain.com claims that the lowest GMP is ₹0 and the highest is ₹210.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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