Investor demand for Quadrant Future Tek initial public offering (IPO) was high on Wednesday, January 8, as the public offering was booked over 51 times, with retail investors driving the majority of the bookings.
According to stock exchange data up until 5 pm, the mainboard issue was booked 51.69 times, with bids for over 28.42 crore shares against 58 lakh shares on offer.
Categories across all categories
The mainboard issue was booked 144.92 times in the retail category. The retail investors placed bids for over 14.48 crore shares, compared to the 10 lakh shares reserved for them.
The Non-Institutional Investors (NIIs) category had the second highest demand, with 92 times as many subscriptions. The NIIs applied for 13.79 crore shares, compared to the 15 lakh shares that were set aside for them.
Of the 30 lakh shares set aside for Qualified Institutional Buyers (QIBs), more than 14.53 crore shares were put up for bid. The issue received 0.48 times subscriptions within the category.
IPO size and structure
The book-built offering for Quadrant Future Tek is worth Rs 290.00 crore. One crore shares are being issued in a brand-new issue.
A total of 1,00,00,000 shares are up for bid in the Quadrant Future Tek initial public offering. Anchor investors got 45,00,000 (45 per cent), NII got 15,00,000 (15 per cent), RII got 10,00,000 (10 per cent), and QIB got 30,00,000 (30 per cent).
Price band and minimum bid
Quadrant Future Tek’s initial public offering (IPO) is priced between Rs 275 and Rs 290 per share. A minimum lot size of 50 is required for applications. A minimum of Rs 14,500 must be invested by retail investors.
A minimum lot size investment of 14 lots, each containing 700 shares, up to Rs 2,03,000 is required for sNII, and a minimum investment of 69 lots, each containing 3,450 shares, up to Rs 10,500, is required for bNII.
Subscription and listing dates
The initial public offering (IPO) subscription period for Quadrant Future Tek started on January 7, 2025, and will conclude on January 9, 2025. It is expected that the allocation for the Quadrant Future Tek IPO will be finalized on Friday, January 10, 2025.
The BSE and NSE will list Quadrant Future Tek on Tuesday, January 14, 2025, which is the tentative listing date.
Company financials
Quadrant Future Tek reported a net loss of Rs 12.11 crore for the six months that concluded on September 30, 2024, despite generating Rs 65.14 crore in revenue.
For the fiscal year 2023–2024, the company’s revenue was Rs 151.82 crore, and its net profit was Rs 14.71 crore. A total of Rs 1,160 crore will be the company’s market capitalization.
