Quadrant Future Tek IPO: Securing Safe Railway Futures

Quadrant Future Tek announced it has raised over Rs 130 crore from anchor investors, ahead of its IPO. The public issue will fund long-term working capital and development projects, particularly under the Indian Railways' KAVACH project. IPO proceeds will also support capital expenditures, debt repayment, and corporate purposes.

Quadrant Future Tek announced it crossed the Rs 130 crore mark on Monday with the help of anchor investors, just before the company's initial share sale opens to the public.

Key investors include WhiteOak Capital Mutual Fund, Kotak MF, and others, as outlined in a circular issued on BSE's website. Quadrant has allocated 45 lakh equity shares at the top price band of Rs 290 per share.

The company's IPO aims to raise Rs 290 crore for working capital needs and capital expenditures. Known for its research in rail safety, the company participates in the KAVACH project and operates a cable manufacturing facility in Mohali with significant capacity.

(With inputs from agencies.)