IPO: Quadrant Future Tech Limited has established a price range of Rs 275-290 per share for its initial public offering (IPO) valued at Rs 290 crore. In a statement released on Friday, the company announced that the IPO will commence on January 7 and conclude on January 9, with large (anchor) investors permitted to place their bids on January 6.
New shares amounting to Rs 290 crore
As outlined in the IPO documentation, this offering consists solely of new shares amounting to Rs 290 crore, with no portion allocated for an offer for sale (OFS). The company submitted its IPO application to the Securities and Exchange Board of India (SEBI) on December 27.
Company’s long-term working capital
The net proceeds from the IPO, totaling Rs 149.72 crore, are intended to support the company’s long-term working capital requirements. Specifically, Rs 24.37 crore will be allocated for the electronic interlocking system, Rs 23.62 crore will be directed towards debt repayment, and the remaining funds will be utilized for various corporate purposes.
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— IPO India (@india_ipo) January 5, 2025
What is the company about and why it can attract attention?
Quadrant is engaged in research and development of advanced train controllers and signaling systems as part of the ‘KAVACH’ initiative for Indian Railways. Additionally, the company operates a specialized manufacturing facility that includes an electron beam irradiation center. The cables produced by this Mohali-based firm are utilized in railway rolling stock and the naval defense sector. As of September 30, 2024, the specialty cable division had an installed capacity of 1,887.60 metric tonnes.
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