Quadrant Future IPO GMP falls ahead of listing; here’s what it means | Stock Market News
Source: Live Mint
Quadrant Future initial public offering (IPO) allotment was finalised on January 10. The IPO received an overwhelming response from investors across all categories.
On the third day, the Quadrant Future Tek IPO was subscribed 186.66 times as of 7:00 PM, according to data from the BSE. The issue received 1,08,26,32,500 shares compared to the 57,99,999 shares available.
The retail investor segment saw an impressive subscription rate of 246.94 times, while the non-institutional investors’ portion was subscribed 254.71 times. Meanwhile, the qualified institutional buyers (QIB) segment reached 132.54% subscription.
Quadrant Future Tek IPO is all set to make its stock market debut on January 14. According to market experts, the IPO is expected to witness strong listing, however, GMP has taken a downward trend since the allotment.
Quadrant Future IPO GMP
Shares of Quadrant Future IPO is trading at a premium of ₹145 in the grey market, as per market observers on January 12. The GMP of Quadrant Future IPO has significantly declined from ₹190 on the allotment day.
Quadrant Future Tek IPO’s estimated listing price is ₹435, which is 50 per cent higher than the IPO price of ₹290, according to chittorgarh.
The highest GMP of Quadrant Future Tek IPO’s is ₹210, meanwhile, the lowest GMP is ₹0.
The grey market premium (GMP) is the price at which an IPO is traded in an unofficial/unregulated grey market prior to its listing.
Quadrant Future IPO details
The ₹290-crore IPO is entirely a fresh issue, with no allocation for an offer for sale. The company has set the IPO within a range of ₹275 to ₹290 per equity share, with the subscription period open until Thursday, January 9.
The proceeds from the IPO will also contribute to capital expenditures related to the development of the electronic interlocking system, repayment of debt, and the remainder will be utilized for general corporate purposes.
The company had raised more than ₹130 crore from anchor investors, just one day ahead of launching its initial public offering (IPO).
Link Intime India Private Limited has been appointed official registrar of the book build issue. Sundae Capital Advisors has been appointed the public issue lead manager.
Quadrant is a research-focused company dedicated to developing cutting-edge train control and signaling systems for the Indian Railways’ KAVACH project, ensuring maximum safety and reliability for rail passengers.
