Quadrant Future Tek IPO - Latest News Update, Information, Photos & Videos on Quadrant Future Tek IPO at Lokmat Times

Quadrant Future Tek on Monday said it has raised over Rs 130 crore from anchor investors a day before its initial share sale opening for public subscription. WhiteOak Capital Mutual Fund (MF), Kotak MF, LIC MF, Bank of India MF, Citigroup Global Markets Mauritius, Ashoka WhiteOak ICAV, Bengal Finance and Investments Shubhkam Venture (I) Pvt Ltd, and Capri Global Capital, among others, were the buyers, according to a circular uploaded on BSE's website.According to the circular, Quadrant Future Tek has allotted 45 lakh equity shares to 22 entities at Rs 290 per equity share, which is also the upper end of the price band. This took the combined transaction size to Rs 130.50 crore. The public issue, with a price band of Rs 275-290 per share for its initial share sale, will open for public subscription on Tuesday and will conclude on Thursday.Also Read | Standard Glass Lining Technology Limited's IPO to open on January 6, 2025, price band set at Rs.133-140 per Equity Share.The Rs 290-crore initial public offering (IPO) is entirely a fresh issue of up to Rs 290 crore with no offer of sale component. The net proceeds from its fresh issuance will be used to fund the long-term working capital requirements.IPO proceeds will also be used towards capital expenditures on the development of the electronic interlocking system, debt repayment and the balance for general corporate purposes. 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 railways rolling stock and Naval (Defence) industry. 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 registrar of the issue. The shares of the company will be listed on the BSE and the National Stock Exchange (NSE).

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Quadrant future tek ipo, Latest News

National :Quadrant Future Tek IPO: Punjab Based Company Collects Rs 130.5 Crore From Anchor Investors

Quadrant Future Tek on Monday said it has raised over Rs 130 crore from anchor investors a day before ... ...