Quadrant Future Tek, a research-oriented company engaged in developing new-generation Train Control and Signalling Systems, has raised INR 48 crore from Ashish Kacholia, Capri Global, and other prominent individual investors. Following the successful Quadrant Future Tek pre-IPO round, the company is looking forward to a successful public market listing.
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 INR 240 per equity share (including a premium of INR 230 per equity share) aggregating to INR 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 INR 275 crores is still intact.
Several prominent investors participated in Quadrant Future Tek pre-IPO 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, Planify Capital Limited were transferred 1.25 lakh equity shares. Other investors in Quadrant Future Tek pre-IPO round 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 INR 10 per equity share is entirely a fresh issue of up to INR 275 crore with no offer for sale component. In the month of September 2024 the company received Sebi’s final observation for the IPO.
Quadrant Future Tek Pre-IPO: Product Portfolio
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).
Quadrant Future Tek Pre-IPO: JV with RailTel
To enhance train safety across India and internationally, RailTel Corporation of India Limited had entered into a Memorandum of Understanding (MoU) with 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.
Quadrant Future Tek pre-IPO round’s success is certainly going to increase interest in the subsequent public offering which is expected in coming months.
