Quadrant Future Tek IPO day 1: GMP, subscription status, review, other details in 10 points. Apply or not?

Quadrant Future Tek IPO: The initial public offering (IPO) of Quadrant Future Tek Limited has hit the Indian primary market today. Bidding for the Quadrant Future Tek IPO will open today at 10:00 AM and remain open until 5:00 PM on 9 January 2025. The company has declared Quadrant Future Tek’s IPO price band to be ₹275 to ₹290 per equity share. Quadrant Future Tek IPO received a rave response from anchor investors as the issue generated ₹130.50 crore ahead of the Quadrant Future Tek IPO subscription opening. The company aims to raise ₹290 crore from this public issue, which is entirely fresh.

Meanwhile, ahead of the Quadrant Future Tek IPO subscription opening, the grey market is dropping strong positive sentiments regarding Quadrant Future Tek IPO. According to stock market observers, shares of the company are available at a premium of ₹181 in the grey market today.

Quadrant Future Tek IPO subscription status

By 2.03 PM on day one of bidding, the book build issue had been subscribed 10.13 times; the retail portion had been booked 37.82 times, while the NII segment had been filled 11.93 times.

Quadrant Future Tek IPO details

1] Quadrant Future Tek IPO GMP: According to stock market observers, shares of the company are available at a premium of ₹181 in the grey market today.

2] Quadrant Future Tek IPO price: The company has declared an issue price of ₹275 to ₹290 per equity share.

3] Quadrant Future Tek IPO subscription date: The book build issue opens today and will remain open until 9 January 2025.

4] Quadrant Future Tek IPO size: The company aims to raise ₹290 crore from the entirely fresh book-build issue.

5] Quadrant Future Tek IPO lot size: A bidder can apply in lots, and one lot of the public issue comprises 50 company shares.

6] Quadrant Future Tek IPO allotment date: The most likely date for share allocation is Friday, 10 January 2025.

7] Quadrant Future Tek IPO registrar: Link Intime India Private Limited has been appointed official registrar of the book build issue.

8] Quadrant Future Tek IPO Lead Manager: Sundae Capital Advisors has been appointed the public issue lead manager.

9] Quadrant Future Tek IPO listing date: The share listing date is likely Tuesday, January 14, 2024.

Quadrant Future Tek IPO: Good or bad for investors?

10] Quadrant Future Tek IPO review: Giving a ‘subscribe’ tag to the book build issue, Abhishek Pandya, Research Analyst at StoxBox, said, “Financially, the company’s revenue from operations grew from Rs. 1,042.5 million in FY22 to Rs. 1,518.2 million in FY24, marking a CAGR of 20.6%. Its EBITDA increased from Rs. 95 million to Rs. 366.6 million during the same period. A strategic MoU with RailTel Corp. and a Rs. 78.6 crore order from Chittaranjan Locomotive Works strengthen the company’s position as a leading Original Equipment Manufacturer (OEM). The issue is valued at a price-to-earnings (P/E) ratio of 59.1x on the upper price band based on FY24 earnings, which is deemed fair compared to its peers. Considering the above compelling factors, we recommend a “SUBSCRIBE” rating for this issue.”

DR Choksey has also assigned a ‘buy’ tag to the public issue, saying, “With a PE ratio of 79x and an EV/EBITDA of 34x, Quadrant Future Tek Limited’s valuation is notably higher than some of its peers, justified by its strong market position, robust growth prospects and solid financial performance, evidenced by a robust ROE of 33%. The premium valuation is further underpinned by its large addressable market and significant project wins, specifically in KAVACH, which enhances its growth potential and ensures sustainable growth prospects. Given these factors, we assign a ‘SUBSCRIBE’ rating.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.