Liquidity Events
Safety control enabler for railways Quadrant’s Rs. 290-Cr IPO subscribed 185.82 times
The initial public offer of Mohali, Punjab-headquartered Quadrant Future Tek Ltd received 185.82 times subscription. The initial share sale received bids for 1,07,77,29,300 shares against 57,99,999 shares on offer. The IPO is entirely a fresh issue of INR 290 crore with no offer for sale component.The category for Non-Institutional Investors (NIIs) garnered 254.16 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 243.12 times. The portion for Qualified Institutional Buyers (QIBs) received 132.54 times subscription. Quadrant had earlier raised over INR 130 crore from anchor investors.The net proceeds from its fresh issuance will be used to fund the long-term working capital requirements.Quadrant develops new-generation train control and signalling systems under the KAVACH project of the Indian Railways that offers safety and reliability to rail passengers.Sundae Capital Advisors is the sole book-running lead manager to the issue.
In Oct 2024, Quadrant Future Tek had raised INR 48 crore from Ashish Kacholia, Capri Global Holdings, and other individual investors in its pre-IPO round.
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