by Suman Gupta
Quadrant Future Tek Limited, a research-oriented company engaged in developing new-generation Train Control and Signalling Systems, has raised Rs 48 crore from Ashish Kacholia, Capri Global, and other prominent individual investors.
As per a public announcement made by the company on October 26, 2024, the company, in consultation with the lead bankers, had issued 20,00,000 equity shares to individuals and institutional investors at an issue price of Rs 240 per equity share (including a premium of Rs 230 per equity share) aggregating to Rs 48 crore. The transaction is Sale of Equity shares by the Promoters of company to the Investors i.e. Secondary Sale. It is not a Fresh issuance or Primary sale. The original IPO size of Rs. 275 crores is still intact.
Several prominent investors participated in the recent investment round, with Suryavanshi Commotrade Private Limited (Ashish Kacholia) were transferred 7.65 lakh equity shares, Capri Global Holdings Private Limited were transferred 4.25 lakh equity shares, Plantify Capital Limited were transferred 1.25 lakh equity shares, Other investors included Sangeeta Singh, R P Singh, Manish Purushottam Maheshwari, Hitesh Sukhlal Jain, Aditi Gupta, Devansh Ajit Vajani (Samedh Trinity Partners), Palash Shivshankar Kawale, Anupam Agarwal, Dhara Ramesh Gandhi, Neeru Gambhir, Pooja Ankit Gandhi, Seema Rajkumar Jha, Amar Amarbhadhur Maurya, and Bhavini Hemang Shah(Mayvenn Partners).
According to the DRHP filed in June 2024, the public issue with a face value of Rs 10 per equity share is entirely a fresh issue of up to Rs 275 crore with no offer for sale component. In the month of September 2024 the company received Sebi’s final observation for the IPO.
Incorporated in 2015, Quadrant Future Tek offers the highest level of safety and reliability to rail passengers and also possess an irradiated / E-beam cable manufacturing facility with an Electron Beam Irradiation Centre.
The company offers speciality cables for Railway rolling stock and the naval (Defence) industry. Its manufacturing facility also possesses end-to-end infrastructure capabilities for producing Solar and EV Cables. The company’s manufacturing operations are based in Basma, Mohali, and the Railway Signalling & Embedded System Design Centre is in Bengaluru, Karnataka, Hyderabad, and Telangana.
The company’s primary customers are in the railways and defence business segment. As of December 31, 2023, the company derived 74.05% of its revenue from Wires and Cables (Railways) and 25.08% from Wires and Cables (Defence).
To enhance train safety across India and internationally, RailTel Corporation of India Limited had entered into a Memorandum of Understanding (MoU) with technology firm Quadrant FutureTek Limited, formerly Quadrant Cables Private Ltd. This strategic partnership aims to explore and implement the indigenous automatic train protection system, KAVACH, within India and in various global markets.
Sundae Capital Advisors Private Limited is the sole book-running lead manager, and Link Intime India Private Limited is the registrar of the issue.
