Quadrant Future Tech IPO Gets High Subscription : Investors have given huge appreciation to the IPO of Quadrant Future Tech Limited. This IPO has been subscribed 194 times till 4 pm on its third and last day. So far, bids have been received for 106 crore shares instead of 55 lakh in the IPO. At the same time, its gray market premium is indicating its high listing gains. In such a situation, investors will have to wait for share allotment on January 10, 2025. The company’s stock will be listed on BSE and NSE on January 14.
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Subscription Status : 193 times subscribed
The IPO of Quadrant Future Tech Limited is getting excellent response from investors. This IPO has been subscribed about 194 times till 4 pm on its last day. About 75 percent of this is reserved for Qualified Institutional Buyers (QIB) and it has been filled 138.45 times so far. In this, about 10 percent share is reserved for retail investors and till now it has been filled 245.82 times. While the remaining 15 percent is reserved for Non-Institutional Investors (NII) and till now it has been filled 266.8 times.
Quadrant Future Tech: GMP
There is a lot of craze in the gray market regarding the IPO of Quadrant Future Tech Limited. The unlisted stock of the company is trading at a premium of Rs 210 in the gray market. This upper price band is 72 percent premium in terms of Rs 290. If we look at the current GMP indications, this stock may be listed at Rs 500 as compared to the IPO price of Rs 290.
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How is the company’s outlook?
Brokerage house SBI Securities says the industry forecast indicates strong growth for the Indian specialty cable and train control systems market, which is projected to expand at a CAGR of 9.8% and 12.7% over the CY24E-CY30E period. Additionally, the strategic MoU with RailTel Corp to provide KAVACH and the recent order winning of Rs 978.6 crore from Chittaranjan Locomotive Works (CLW), strengthens the company’s position as a leading OEM.
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Brokerage house Canara Bank Securities says Quadrant Future Tech (QFTL) has brought diversification into specialized cable manufacturing and integrated backward segments while increasing cost efficiency and market adaptability. The cables used in railways, defense and electric vehicle (EV) sectors exhibit superior durability and lightweight properties, contributing to Ebit margins of 16-24 per cent in the cable division.
Brokerage house Ventura Securities says growing demand for automated railway safety systems under the ‘Make in India’ initiative and growing applications of e-beam cables in renewable energy and EV sectors provide significant growth opportunities. With its innovative solutions, strong financial performance and focus on quality, Quadrant is well positioned for continued growth.
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What does the company do?
Quadrant Future Tech Limited develops next generation train control and signaling systems for the Kavach project of Indian Railways, enhancing passenger safety and reliability. The company also has a special cable manufacturing facility with electron beam irradiation centre. The company has a facility at Village Basma (Tehsil Banur, District Mohali) for manufacturing, testing and development of special cables and hardware for Train Control and Signaling Division. The company is technology driven, with products meeting ISO, IRIS and TS standards and adhering to a strict quality management system for specialty cables.
(Disclaimer: The advice to invest in stocks has been given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)
