Quadrant Future Tech IPO: Today is the last day to subscribe to the IPO of Quadrant Future Tech, a company that develops train control and signaling systems for Indian Railways. This IPO, which opened on Tuesday, January 7, will close today. The company’s IPO has received an excellent response from investors so far. According to NSE data, till 10.50 am on Thursday, January 9, this IPO has received 61 times subscription. The special thing is that the subscription of this IPO is increasing very fast and it can go up a lot by the time it closes.
Company is working on ‘Kavach’ project for Indian Railways
This company, which is working on ‘Kavach’ project for Indian Railways, wants to raise a total of Rs 290.00 crore from its IPO. Under its IPO, the company has fixed the price band of Rs 275 to Rs 290 for each share. Let us tell you that this is a mainboard IPO, which will be listed on both the major exchanges of the Indian stock market, BSE and NSE. A total of 1,00,00,000 fresh shares with a face value of Rs 10 will be issued under the IPO of Quadrant Future Tech. There will be no share of OFS in this.
The company will be listed in the stock market on January 14.
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.
No change in GMP since 4 days
The company’s IPO is getting strong support from investors. Therefore, there is tremendous stir in the shares of the company even in the gray market. On Thursday, January 9, the company’s shares are trading with a GMP of Rs 210 (72.41%) in the gray market. However, for the last several days its GMP has remained at Rs 210 only. The GMP price of Quadrant Future Tech shares had reached Rs 210 on Monday, January 6 itself. 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.
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