Quadrant Future Tek Ltd. will open its initial public offering for subscription on Jan. 07. The train control and signalling systems developer's maiden public offer includes a fresh issue of shares amounting up to Rs 290 crore.
The proceeds raised from the fresh issue of shares will be utilised towards funding long-term working capital requirements of the company, capital expenditure for development for electronic interlocking system, repayment or pre-payment of borrowings, and general corporate purposes, as per their red herring prospectus.
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Sundae Capital Advisors Pvt. Ltd. is the book-running lead manager of the Quadrant Future Tek IPO, while Link Intime India Pvt. Ltd. is the registrar for the issue. The anchor book for the IPO will be launched on Jan. 06.
Post the offer, shares of the company will be listed on both the National Stock Exchange and the Bombay Stock Exchange. The issue will close on Jan. 9.
Quadrant Future Tek Business
Quadrant specialises in advanced solutions, including specialty cables and train control systems, with a focus on innovative technologies like Kavach Ver. 4.0 for railway networks.
The company underwent several transformations, including a name change to Quadrant Future Tek Private Limited in 2021 and its conversion to a public limited entity later that year. With its registered office in Village Basma, Mohali, and corporate operations located on Airport Road in the same region, the company has established a strong local presence.
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