Quadrant Future Tek Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹290
Per ShareLot Size
50 Shares
Minimum Investment
₹14,500
Issue Size
₹290 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
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*Real-time data subject to exchange updates
Quadrant Future Tek Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
93.33%
Promoter Holding (Post-Issue)
70%
Issue Type
Book Building
ISIN
INE0LRY01011
About the Company
Quadrant is a research oriented company, engaged in developing new generation Train Control and Signalling Systems under KAVACH project of the Indian Railways that offers the highest level of safety and reliability to rail passengers and also possess a speciality cable manufacturing facility with Electron Beam Irradiation Centre. The speciality cables manufactured by our Company is used in Railways rolling stock and Naval (Defence) industry. Our facility also possess end to end infrastructure capabilities for production of Solar & EV Cables. Further, our Company has received a purchase order on November 18, 2024 from Chittaranjan Locomotive Works for supply, installation, testing and commissioning of On-board Kavach equipment in 1,200 locomotives for an aggregate value of Rs. 9,786.06 million (including tax).
Industry Overview
Our Company caters to two different industries, namely (i) Indian Specialty Cables Industry with niche technology for manufacture of Speciality cables which has application in various industries including Railways, Naval Defence, Solar power & Electric Vehicle; and (ii) Train Control and Signalling System under Railways Industry towards Automatic Train Protection (ATP) and Automatic Train Operations (ATO) systems including KAVACH and growing demand in related technologies and development of new systems to enable safety and capacity augmentation in railways.
Company History
Our Company was incorporated as `quadrant Cables Private Limited' on September 18, 2015 at Mohali, Punjab as a private limited company under the Companies Act, 2013. Thereafter, the name of our company was changed from `quadrant Cables Private Limited' to `Quadrant Future Tek Private Limited', and a fresh certificate of incorporation dated October 08, 2021 was issued by Registrar of Companies, Punjab and Chandigarh ("RoC"). Subsequently, our Company was converted into a public limited company, the word `Private' was struck off from the name of our Company and consequently, a fresh certificate of incorporation dated October 21, 2021 was issued by the RoC, recording the change of our Company's name to `Quadrant Future Tek Limited'.
Growth Strategy
- To continue focus on new products through constant research and development.
- Make in India and focus on indigenisation.
- Expansion of business to other areas of Automatic Train Protection and railway safety.
- Continue to grow share of our business from non promoter group companies.
- Expansion of cable business in new sectors.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public issue of up to 1,00,00,000 equity shares of face value of Rs. 10/- each (Equity Shares) of Quadrant Future Tek Limited (The Company) for cash at a price of Rs. 290.00 per equity share (Including a Share Premium of Rs. 280.00 per Equity Share) (Issue Price) aggregating up to Rs. 290.00 crores (Issue). The issue shall constitute 25 % of the post-issue paid-up equity share capital of the company. The Issue Price is Rs. 290 per equity share of face value of Rs.10 each. The Issue Price is 29 times of the face value of the equity shares. Bid can be made for a minimum of 50 equity shares and in multiples of 50 equity shares thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Innovation and technological development undertaken by the Company for building Automatic Train Protection Systems.
- Entered into an exclusive Memorandum of Understanding with RailTel for delivering the specific targeted opportunities related to KAVACH in Indian Railways and other Countries Railways.
- We have in-house design and product development capabilities powering our Rail Signalling Products & Solutions.
- Unique technology for the manufacture of cables that meets the stringent requirements for multiple industries, namely Railways, Naval Defence, Renewable Energy & Electric Vehicle sectors.
- Advanced manufacturing facilities with a diverse range of power and control cables with focus on innovation and cost competitiveness.
- The Company has passed through an incidence of litigation involving dispute inter-se its Promoters, namely Mohit Vohra, Amit Dhawan, Rupinder Singh, Aikjot Singh, Vishesh Abrol and Vivek Abrol, along with Mohan Krishan Abrol, Vipin Abrol and Parminder Kaur to remove Amrit Singh Randhawa and Rajbir Singh Randhawa from the Board of the Company on charges of carrying out certain competing activities in a company controlled by them (i.e. International Switchgears Private Limited) that poses a conflict of interest to the Company. The matter was escalated to NCLT and subsequently the same was amicably settled between the Promoters and Promoter Group and a settlement agreement was executed. Its cannot assure that such instance will not occur in future, which may adversely affect its business prospects and results of operations.
- The Company, alongwith Vivek Abrol, Promoter & Director of the Company and Mohan Krishan Abrol have filed a settlement application under Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018 for delayed compliance under Regulation 54 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. Any adverse outcome in relation to such settlement application may impact its reputation.
- Its business is dependent on the company single manufacturing facility, and its subject to certain risks in its manufacturing process. Any slowdown or shutdown in the company manufacturing operations could have an adverse effect on its business, financial condition and results of operations.
- The markets in which its customers operate are characterized by sector specific to the industries which the company cater to, and their rapidly changing preferences, technologies and other related factors including lower manufacturing costs. Accordingly, its may be affected by any disruptions in the industry which can adversely impact the company business, financial condition, results of operations, cash flows and prospects.
- The company has only recently expanded its operations into Train Control Systems and it may be difficult to predict and evaluate its performance and future prospects, for which a substantial portion of the Net Proceeds of the Issue shall be deployed since the company is yet to be awarded any contracts. Its Promoters also does not have significant background or experience in the train control systems segment under the railways industry. If the company cannot scale its business or manage its businesses effectively or are unable to successfully implement its strategies, the quality of its product and services and the company results of operations could be adversely affected.