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IPO Alert: Quadrant Future Tek Filed DRHP with SEBI

18 June 20243 mins read by Angel One
Quadrant Future Tek submitted a draft red herring prospectus (DRHP) to raise ₹275 crore to finance long-term working capital requirements and other purposes.
IPO Alert: Quadrant Future Tek Filed DRHP with SEBI
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Quadrant Future Tek, a provider of Train Control and Signalling Systems, has recently filed a draft red herring prospectus (DRHP) with the market regulatory Securities and Exchange Board of India (SEBI) to float an Initial Public Offering (IPO) to raise up to ₹275 crore via fresh issue. After a successful process, Quadrant Future Tek IPO will be listed on BSE and NSE.

Quadrant Future Tek has appointed Sundae Capital Advisors Private Limited as book runner lead manager and Link Intime India Private Limited as registrar to issue.

Objective of Quadrant Future Tek IPO

The company proposes to utilise the net proceeds from the Issue towards the following objects:

  • Funding long-term working capital requirements.
  • Capital expenditure for the development of an Electronic Interlocking System.
  • Prepayment or repayment of all or a portion of the company’s outstanding working capital term loans.
  • General corporate purposes.

About Quadrant Future Tek Limited

Incorporated in 2015, Quadrant Future Tek is a research-oriented company engaged in developing new-generation Train Control and Signalling Systems that offer 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).

The domestic market for speciality cables was valued at USD 542 million in CY23 and is expected to reach USD 599 million in CY24. For the projected period CY24-CY30, the market is forecasted to register a CAGR of 9.8%. Speciality cables have applications in areas where safety concerns are imperative, critical circuits are required, and special capabilities are needed in engineering and configuration.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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