Quadrant Future Tek, a company improving security systems for Indian Railways, had a successful debut on the stock exchange.
The company’s initial public offering (IPO) was priced at ₹290 per share.
Upon listing, the shares opened at ₹374, showing a 30.71% increase. Investors who received shares in the IPO made a profit of ₹84 per share.
Share Performance on Stock Exchanges
1) On the Bombay Stock Exchange (BSE), Quadrant Future Tek’s shares opened at ₹374, reached ₹390, and are now trading at ₹381.90, reflecting a 2.11% rise.
2) On the National Stock Exchange (NSE), the shares opened at ₹370, reached ₹389.90, and are currently trading at ₹382.70, showing a 3.42% increase.
IPO Details and Investor Response
Quadrant Future Tek’s IPO was available for investment from January 7 to January 9, raising ₹290 crore by issuing new shares.
The price band for the IPO was ₹275 to ₹290 per share, with a face value of ₹10 per share.
The IPO received an overwhelming response, with subscriptions 196 times the total offering.
Retail investors’ quota was subscribed 256 times, while institutional and non-institutional quotas were subscribed 139.77 times
and 268 times, respectively. In total, ₹31,256 crore worth of applications were received for the ₹290 crore IPO.
About Quadrant Future Tek
Founded in September 2015, Quadrant Future Tek focuses on developing advanced train control and signaling systems as part of the Indian Railways’ Kavach project.
The company’s goal is to improve rail safety. Additionally, Quadrant operates a specialized cable manufacturing facility and an Electron Beam Irradiation Centre.
