Quadrant Future Tek IPO Soars with Overwhelming Subscription

Quadrant Future Tek Ltd's IPO witnessed record demand, reaching 185.82 times its subscription on the final day. The IPO, fully subscribed within minutes, is a fresh issue aiming to fund capital requirements and development projects. It highlights the company's role in rail safety technology in India.

The initial public offering (IPO) of Quadrant Future Tek Ltd enjoyed astounding demand, achieving a 185.82 times subscription rate on its final day. This remarkable investor participation underscores the strong market interest.

According to NSE data, bids for 107.77 million shares were received against the 5.8 million shares available. Different investor brackets showed varied enthusiasm, with non-institutional investors subscribing 254.16 times, retail individual investors 243.12 times, and qualified institutional buyers accounting for 132.54 times.

The IPO, fully subscribed shortly after opening, is a fresh issuance without any sale offer portion. It aims to raise up to Rs 290 crore for long-term capital needs, including technology development under India's KAVACH project and debt repayment. With shares slated to list on BSE and NSE, this marks a significant step for Quadrant Future Tek, a Mohali-based pioneer in train control systems and cable manufacturing.

(With inputs from agencies.)