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Quadrant Future Tek IPO: Quadrant Future Tek’s IPO, which is working towards strengthening the security cover of Indian Railways, has got a spectacular listing on the stock exchange. As against the issue price of Rs 290, Quadrant Future Tek shares have been listed at Rs 374 with a jump of 30.71 percent. Investors who got allotment in the IPO made a profit of Rs 84 per share.
Quadrant Future Tek’s IPO opened at Rs 374 on BSE. After this the stock reached Rs 390. But currently the share is trading at Rs 381.90 with a rise of 2.11 percent. The IPO opened at Rs 370 on the National Stock Exchange and after making a high of Rs 389.90, the stock is trading at Rs 382.70 with a rise of 3.42 percent.
Company raised Rs 290 crore
Quadrant Future Tek’s IPO was open for investment from January 7 to 9. The company has raised Rs 290 crore through IPO. The entire money in the IPO was raised by issuing completely new shares and for the shares with face value of Rs 10, the company had fixed the price band of Rs 275 – 290 per share.
IPO subscribed a total of 196 times
Quadrant Future Tek’s IPO received an excellent response from investors. This IPO closed after being subscribed a total of 196 times. Retail investors participated enthusiastically in this IPO. The reserve quota for retail investors was subscribed 256 times, the reserve quota for institutional investors was subscribed 139.77 times and the quota for non-institutional investors was subscribed a total of 268 times. A total of Rs 31,256 crore applications were received for this Rs 290 crore IPO.
what does the company do
Quadrant Future Tech Limited, formed in September 2015, is developing new generation train control and signaling systems under the Kavach project of Indian Railways to make rail travel safe. The company also has a special cable manufacturing facility along with Electron Beam Irradiation Centre.
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