After opening for subscriptions on Tuesday, January 7, Quadrant Future Tek’s IPO was completely subscribed to within minutes.
There were 4.12 subscriptions to the issue up until 03.24 a.m. In contrast to the 57,99,999 shares that were up for grabs, 2,38,85,900 equity shares were bid on, according to the NSE’s consolidated bid data.
Subscription across all categories
The retail portion of the IPO was booked 20.91 times with bids for over 2.09 crore shares, while 10 lakh shares were reserved for retail individual investors (RIIs).
In the company’s initial public offering (IPO), 6.02 times as many shares were reserved by non-institutional investors (NIIs). The NIIs applied for more than 90.32 lakh shares out of the 15 lakh shares that were set aside for them.
Although 30 lakh shares were allotted to the Qualified Institutional Buyers (QIBs) category, only 25,700 shares amounting 0.01 per cent of the issue were put up for bid.
GMP (grey market price)
The shares of Quadrant Future Tek are currently trading at their issue price of Rs 290.00 with a 72.41 per cent premium, according to the grey market premium (GMP) of Rs 210. suggesting that each share would be listed for Rs 500.00.
Offer size and subscription
The Quadrant Future Tek IPO is a Rs 290.00 crore book-built offering. This is a brand-new issue of one crore shares.
In the Quadrant Future Tek IPO, in total 1,00,00,000 shares are available to bid. QIB received 30,00,000 (30 per cent), NII received 15,00,000 (15 per cent), RII received 10,00,000 (10 per cent), and Anchor investors received 45,00,000 (45 per cent).
Price band and minimum bid
The price range for Quadrant Future Tek’s IPO is Rs 275 to Rs 290 per share. Applications must have a minimum lot size of 50. Retail investors are required to invest a minimum of Rs 14,500.
sNII requires a minimum lot size investment of 14 lots comprising of 700 shares, totalling up to Rs 2,03,000, and bNII requires a minimum investment of 69 lots comprising of 3,450 shares, amounting to Rs 10,500.
Subscription and listing dates
The subscription period for the Quadrant Future Tek initial public offering (IPO) began on January 7, 2025, and it will end on January 9, 2025. On Friday, January 10, 2025, the allocation for the Quadrant Future Tek IPO is anticipated to be finalised.
The tentative listing date for the Quadrant Future Tek IPO is set for Tuesday, January 14, 2025, and it will be listed on the BSE and NSE.
Company financials
For the six months ended on September 30, 2024, Quadrant Future Tek reported a net loss of Rs 12.11 crore with a revenue of Rs 65.14 crore. The company’s net profit came in at Rs 14.71 crore with a revenue of Rs 151.82 crore for the financial year 2023-24. The company will command a total market capitalization of Rs 1,160 crore.
