Quadrant Future Tech IPO: The IPO of Quadrant Future Tech, a train control and signaling system developing company, opened for subscription today. The IPO of this company, which is working on the ‘Kavach’ project for Indian Railways, will close on Thursday, January 9. This is a mainboard IPO, which will be listed on both the major exchanges of the Indian stock market, BSE and NSE. Quadrant Future Tech wants to raise a total of Rs 290.00 crore from this IPO. Under its IPO, the company has fixed a price band of Rs 275 to Rs 290 for each share.
IPO subscribed 5 times in a short time
Quadrant Future Tech will issue a total of 1,00,00,000 shares with a face value of Rs 10 each for this IPO. All these 1 crore shares will be fresh and there will be no share of OFS in it. After the IPO closes on Thursday, January 9, the allotment of shares will be done on Friday, January 10. Then next week on January 13, the shares will be credited to the demat accounts of the investors. Finally, on Tuesday 14 January the company will be listed on the stock exchange. Let us tell you that till today at around 11.40 am on the very first day, the company’s IPO has received 5 times subscription.
GMP is growing at the speed of a rocket
Seeing the way the company’s IPO is getting support from investors, strong demand is being seen for the company’s shares in the gray market also. On Tuesday, January 7, the company’s shares are trading in the gray market with a GMP of Rs 210. Let us tell you that till January 3, its GMP was at 0 and on January 4, it directly reached Rs 140. After which it reached Rs 180 on January 5 and Rs 210 on January 6. However, there is still a lot of ups and downs to happen.
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