by Suman Gupta
Mumbai, January 6, 2025: Quadrant Future Tek Limited has garnered Rs. 130.50 crores from anchor investors ahead of its initial public offering that opens for public subscription on Tuesday, January 7, 2025. The company informed the bourses that it allocated 45,00,000 equity shares at Rs. 290 per share on Monday, January 6, 2025, to anchor investors
Foreign and Domestic Institutions who participated in the anchor included Citigroup Global Markets Mauritius Private Limited, Capri Global Capital Limited, Shubhkam Ventures, Whiteaok Mutual Fund, Whiteaok, LIC Mutual Fund, Kotak Mutual Fund, Bank of India Mutual Fund, Bengal Finance and Investment Private Limited, PGIM India, Sundram Alternative and besides other.
Out of the total allocation of 45,00,000 equity shares to the anchor investors, 15,00,000 equity shares (i.e. one third of the total allocation to Anchor Investors) were allocated to 4 domestic mutual funds through a total of 11 schemes.
Sundae Capital Advisors Private Limited is the sole book-running lead manager, and Link Intime India Private Limited is the registrar of the issue.
IPO Details
The IPO is entirely a fresh issue of up to Rs 290 crore with no offer of sale component.
The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Tuesday, January 7, 2025, and closes on Thursday, January 9, 2025. The price band for the Offer has been determined at Rs 275 – Rs 290 per equity share.
The IPO will fetch Rs 290 crore at the upper end of the price band.
Investors can bid for a minimum of 50 equity shares and in multiples of 50 equity shares thereafter.
The Issue is being made through the book-building process, wherein not less than 75% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the offer shall be available for allocation to non-institutional investors, and not more than 10% of the offer shall be available for allocation to retail individual bidders.
