Quadrant Future Tek IPO Day 3 Live Updates: Issue subscribed 48.99x so far; check GMP, review, subscription status
₹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.Stay tuned for more updates Quadrant Future Tek is a research-oriented company, engaged in developing newgeneration Train Control and Signalling Systems under the KAVACH project of the Indian Railways that offers the highest level of safety and reliability to rail passengers.Quadrant Future Tek IPO GMP today is +210.
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