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Quadrant Future Tek IPO
Price Band
₹275.0–290.0
Issue Size
₹290.0 Cr
Lot Size
50 shares
Min Investment
₹14,500
GMP
+₹120.0 (41.38%)
Issue Price
₹290.0
Subject to Sauda
₹4600
Paid only if allotted
Quadrant Future Tek IPO AI Summary
- Quadrant Future Tek IPO is listed on BSE, NSE in the Cables - Electricals sector.
- Price band: ₹275.0–₹290.0 per share, lot size 50 shares (min. investment ₹14,500).
- Subscription window: 07 Jan–09 Jan 2025, listing on 14 Jan 2025.
- Current GMP is +₹120.0 (41.38%), an estimated listing price of ₹410 — unofficial and can change daily.
Quadrant Future Tek Limited is an emerging player in the railway signaling and specialty cable manufacturing sector. With a focus on technology and safety, the company is positioned to benefit from ongoing developments in Indian Railways. However, potential investors should carefully assess the financial performance and market dynamics before participating in the IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Quadrant Future Tek IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 09 Jan 2025 — not a current signal.
11 of 14 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Quadrant Future Tek IPO Grey Market Premium (GMP) Today
GMP
+₹120.0
GMP %
+41.38%
Est. Listing
₹410.0
Updated: 25 Jul 2026 14:15
About the Company
Quadrant Future Tek Limited, incorporated in September 2015, develops next-generation Train Control and Signaling Systems for the Indian Railways' KAVACH project, enhancing safety and reliability for passengers. The company also has a speciality cable manufacturing facility with an Electron Beam Irradiation Centre. The company has a facility in Village Basma, Tehsil Banur, Distt Mohali, for manufacturing, testing, and developing speciality cables and hardware for the Train Control & Signalling Division. The company is technology-driven, with products that meet ISO, IRIS, and TS standards and follow strict Quality Management Systems for speciality cables. The company manufactures, tests, and develops speciality cables at its Village Basma, Tehsil Banur facility, District Mohali, Punjab. As of October 31, 2024, the company had 295 employees at its manufacturing facility, Railway Signalling & Embedded System Design centre and corporate function. Competitive Strength: The Company is engaged in the innovation and technological development of Automatic Train Protection Systems. Entered an exclusive Memorandum of Understanding with RailTel to pursue KAVACH opportunities in Indian Railways and other countries' railways. In-house design and product development capabilities powering our Rail Signalling Products & Solutions. Advanced cable manufacturing technology that meets strict standards for Railways, Naval Defence, Renewable Energy, and Electric Vehicle sectors. Advanced manufacturing facilities with a diverse range of power and control cables with a focus on innovation and cost competitiveness.
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 149.66 | 142.82 | 118.82 | 112.77 |
| Total Income | 65.14 | 151.82 | 152.95 | 104.29 |
| Profit After Tax | -12.11 | 14.71 | 13.90 | 1.94 |
| NET Worth | 34.18 | 44.11 | 29.42 | 15.61 |
| Reserves and Surplus | 4.18 | 34.11 | 19.42 | 5.61 |
| Total Borrowing | 98.01 | 81.61 | 74.00 | 80.68 |
Key Ratios
EPS
₹4.90
NAV
₹14.70
ROE
33.41%
ROCE
26.12%
RoNW
33.41%
P/B Value
19.73
P/E Ratio
59.13
Market Cap
₹1160.00 Cr
PAT Margin
9.68%
Debt/Equity
1.86
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Polycab India Ltd | 544.95 | 21.9% | 64.85 | 118.93 | 118.93 |
| Apar Industries Ltd. | 965.01 | 20.8% | 49.11 | 212.1 | 212.1 |
| Hbl Power Systems Ltd. | 44.03 | 22.87% | 61.59 | 10.07 | 10.07 |
| Kernex Microsystems (india) Ltd. | 63.61 | -24.16% | — | -16.61 | -16.61 |
| Quadrant Future Tek Limited This IPO | 14.7 | 33.41% | — | 4.9 | 4.9 |
Promoters
Mohit Vohra, Amit Dhawan, Amrit Singh Randhawa, Rupinder Singh, Vishesh Abrol, Vivek Abrol, Aikjot Singh and Rajbir Singh Randhawa
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding long-term working capital requirements of the Company 149.72 2 Capital expenditure for development for Electronic Interlocking System 24.38 3 Prepayment or repayment of all or a portion of outstanding working capital term loan availed by Company 23.62 4 General Corporate Purposes 63.06 5 Issue Expenses 29.23 Total 290.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹104.29 Cr in the year ending 31 Mar 2022, increasing to ₹152.95 Cr by 31 Mar 2023, and slightly declining to ₹151.82 Cr in the year ending 31 Mar 2024. However, the most recent figure of ₹65.14 Cr as of 30 Sep 2024 is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹1.94 Cr in the year ending 31 Mar 2022, rising to ₹13.90 Cr by 31 Mar 2023, and further increasing to ₹14.71 Cr in the year ending 31 Mar 2024. The most recent figure shows a loss of ₹12.11 Cr as of 30 Sep 2024, which is also a 9-month figure and not directly comparable.
Valuation
Quadrant Future Tek's implied P/E at the issue price is approximately 59.13, compared to peers trading in a range of 49.11 to 64.85.
Key Risks
Investors should consider the company's recent financial performance, particularly the reported loss in the latest period. Additionally, the high debt-to-equity ratio may pose risks if the company faces operational challenges. Market conditions and competition in the electrical cables sector could also impact performance.
Grey Market Premium, Explained
The grey market refers to a platform where shares of an IPO are traded before they are officially listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on demand in the grey market. A positive GMP suggests strong investor interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential and market conditions. It's important to consider the company's financial health and industry position.
Who May Want to Wait
Investors who are risk-averse or unable to tolerate potential losses may want to avoid this IPO, especially given the recent financial performance and high debt levels.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on January 7, 2025, and closes on January 9, 2025. Allotment of shares will be finalized by January 10, 2025, and the shares are expected to be listed on the stock exchange on January 14, 2025.
Listing Gains — The Risk
Listing gains can be unpredictable and depend on market conditions, investor sentiment, and the company's performance post-IPO. While some IPOs may experience significant gains on listing day, others may not, and investors should be prepared for potential losses.
This evaluation is generated from Quadrant Future Tek's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Quadrant Future Tek IPO GMP today?
Quadrant Future Tek IPO GMP today is +₹120.0 (41.38%), indicating an estimated listing price of ₹410. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Quadrant Future Tek IPO?
The price band of Quadrant Future Tek IPO is ₹275.0–₹290.0 per share.
When does Quadrant Future Tek IPO open and close?
Quadrant Future Tek IPO opens on 07 January 2025 and closes on 09 January 2025.
When does Quadrant Future Tek IPO list on the stock exchange?
Quadrant Future Tek IPO listed on 14 January 2025 at ₹410.0.
What is the lot size for Quadrant Future Tek IPO?
The lot size for Quadrant Future Tek IPO is 50 shares, requiring a minimum investment of ₹14,500.
What is the price band for the IPO?
The price band for the IPO is ₹275 to ₹290.
What is the minimum investment required?
The minimum investment required is ₹14,500.
What is the lot size for this IPO?
The lot size for this IPO is 50 shares.
When is the listing date?
The listing date is expected to be January 14, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium of the IPO shares in the grey market before listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
07 Jan 2025
Close
09 Jan 2025
Allotment
10 Jan 2025
Listing
14 Jan 2025
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