Quadrant Future Tech shares: Shares of Quadrant Future Tech gave double digit returns on January 14 and hit the upper circuit. Despite the sluggish environment in the stock market, investors showed a lot of interest in the shares of this company. The company’s shares opened at Rs 370 on the National Stock Exchange (NSE), with an increase of 27.6 percent from the issue price (Rs 290) and reached Rs 444 during trading. On January 14, there was an increase of 53.10 percent in the company’s shares from morning to evening in the stock market and its volume was 1.46 crore shares.
On January 14, the company’s stock closed at Rs 448.75, up 54.74 percent, on the Bombay Stock Exchange (BSE) and the volume stood at 15.38 lakh shares. The company’s shares rose 20% from the opening price of Rs 374. The exchanges have fixed the upper and lower circuit limits for this stock at 20%, as the value of this issue is more than Rs 250 crore.
In terms of closing price, Quadrant Future Tech is valued at Rs 1,795 crore. The company develops next generation train control and signaling systems under the Kavj project of Indian Railways. The company has raised Rs 290 crore through IPO and it was a completely fresh issue. The price band for this issue was Rs 275-290 per share.
The company’s issue was open for subscription from 7-9 January 2025 and it received 186.66 times subscription. The company also has a specialty cable manufacturing facility and through the IPO it intends to meet long-term capital requirements, develop electronic interlocking systems, repay debt and meet general needs of the company.