Quadrant Future Tek IPO Day 1: 15.81x subscribed, retail portion 53.50x. GMP update

The Quadrant Future Tek IPO is off to a strong start, with the issue already subscribed 15.81 times by the end of Day 1. Retail investors are showing particularly strong interest, with their portion subscribed 54.84 times. Non-institutional investors have subscribed 21.51 times, and the qualified institutional buyers (QIB) portion is at 5%.

The IPO consists of a new issue worth ₹290 crore, priced between ₹275 and ₹290 per share. The funds will primarily be used for working capital, capital expenditures for the development of electronic interlocking systems, and debt repayment. The company is focused on advancing railway safety with its work on the KAVACH project, and it also manufactures cables for the railway, defense, and electric vehicle sectors.

Quadrant Future Tek has experienced significant revenue growth, reporting a 44.85% compound annual growth rate (CAGR) over the past three years. The IPO is backed by strong industry demand for automated railway safety systems and cables for renewable energy and defense applications. With its robust financial performance and innovative solutions, the company appears well-positioned for sustained growth.

The retail portion has already been fully subscribed, signaling strong public interest in the offering. The IPO closes on January 9.