Quadrant Future IPO To Open On January 7 With Price Band Of Rs 275-290 Per Share

New Delhi: Quadrant Future Tek Ltd stated it has fixed the price band at Rs 275-290 per equity share for its Rs 290-crore initial public offering (IPO) that will open for public subscription on January 7. The IPO of Quadrant Futures Tek will conclude on January 9, while the bidding for anchor investors is to open for a day on January 6, the company said in a statement. Investors can bid for a minimum of 50 equity shares and on multiples of 50 equity shares thereafter, it said on Friday.

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Quadrant IPO opens January 7, price band Rs 275-290.

According to the Red Herring Prospectus (RHP), the public issue filed on December 27, 2024, is entirely a fresh issue of up to Rs 290 crore with no offer of sale component. The company will utilize the net proceeds from its fresh issuance, which amounts to Rs 149.72 crore, to fund the long-term working capital requirements (Specialty Cable Division). The IPO proceeds worth Rs 24.37 crore will be used for capital expenditures on the development of the electronic interlocking system, Rs 23.62 crore for repayment of debt and the balance for general corporate purposes.

Quadrant: Revolutionizing Train Safety and Specialty Cable Manufacturing

Quadrant is a research-oriented company engaged in developing new-generation 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. It also possesses a speciality cable manufacturing facility with an electron beam irradiation centre. The cables manufactured by the Mohali-based firm are used in the railways rolling stock and Naval (Defence) industry.

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For the speciality cable division, the company had an installed capacity of 1,887.60 metric tonnes as of September 30, 2024. Sundae Capital Advisors is the sole book-running lead manager, and Link Intime India is the issue registrar. The shares of the company will be listed on the BSE and the National Stock Exchange (NSE).