Quadrant Future Tek is scheduled to finalise the basis of allotment of its shares on Friday, January 10. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by weekend or latest by Monday January 13. The speciality cable manufacturing player IPO had received a bumper response from the investors.
The IPO of Quadrant Future Tek was open for bidding between January 07 and January 09. It had offered its shares in the price band of Rs 275-290 per share with a lot size of 50 shares. The company raised a total of Rs 290 crore from its IPO, which was entirely a fresh share sale of 1,00,00,000 equity shares.
The issue was overall subscribed a stellar 186.66 times. The portion for qualified-institutional bidders (QIBs) was subscribed about 132.54 times. The portion for non-institutional investors (NIIs) was booked 254.71 times, while the allocation for retail investors was booked 246.94 times during the three-day bidding.
Grey market premium (GMP) of Quadrant Future Tek has seen some correction despite a strong bid on the back of rising volatility in the broader markets. Last heard, the company commanded a grey market premium (GMP) of Rs 190 apiece, signaling more than 65 per cent listing pop for the investors.
Incorporated in September 2015, Mohali-based Quadrant Future Tek develops next-generation train control and signaling systems for the 'KAVACH' project of Indian railways, enhancing safety and reliability for passengers. It also has a specialty cable manufacturing facility with an Electron Beam Irradiation Centre.
Sundae Capital Advisors is the book running lead manager of the Quadrant Future Tek IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE with January 14, Tuesday as the tentative date of listing.
Investors, who had bid for the issue of Quadrant Future Tek, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Quadrant Future Tek Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Link Intime Limited
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.