Another new smashing debut today. As against the IPO price of Rs.290, Quadrant Future got listed on the BSE at Rs.374 and rose further to an intraday high at Rs.390 and is now trading at Rs.372 levels.

The IPO was overall subscribed 186.64 times, wherein HNI portion was subscribed 254.7 times, QIBs at 132.54x and Retail Investors at 246.86x.

Quadrant Future Tek is a Punjab based manufacturer of (i) speciality cable for railway (rolling stock) and naval (defence) use and (ii) train control and signalling systems for Indian Railways. It has developed Train Collision Avoidance System (under KAVACH project) and received technical clearance by Research Design and Standards Organization (RDSO, Indian Railways) for field trial and implementation of order worth Rs. 17 cr for 5 stations and 10 locomotives.

In our IPO Analysis, we had concluded - Given huge future potential, we recommend ‘applying’ in the IPO of Quadrant Future Tek.