Quadrant Future Tek IPO

Quadrant Future Tek specialises in advanced Train Control Systems and E-beam cables, focusing on safety and reliability for railways, defence, EVs, and renewable energy. Its facilities in Mohali, Bengaluru, and Hyderabad support innovation and manufacturing.

The company offers speciality cables using E-beam irradiation for enhanced mechanical, thermal, and safety properties, catering to industries with stringent performance criteria. Quadrant’s indigenously developed KAVACH system, a cost-effective Train Collision Avoidance solution, supports Indian Railways’ modernisation initiatives and is positioned for global adoption.

IPO Strengths

• Expertise in Automatic Train Protection Systems for safer operations.

• Skilled team with experience in signalling and train control.

• Proficiency in mechanical, electrical, software, and data communication.

• Compliance with global safety standards for risk reduction and efficiency

• Partnership with RailTel to deploy Kavach for Indian and global markets.

• End-to-end capabilities in the design, manufacturing, and testing of train systems.

• Expertise in E-beam cable technologies for safety and performance.

• Solutions across railways, defence, EVs, and renewable energy sectors

Key Financials (in crores)

Particulars	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	142.82	118.82	112.77
Revenue	151.82	152.95	104.29
Profit After Tax	14.71	13.9	1.94
Reserves and Surplus	34.11	19.42	5.61
Total Borrowings	81.61	74	80.68

Quadrant Future Tek Limited Upcoming IPO Details

Category	Details
Issue Type	Book Built Issue IPO
Total Issue Size	Fresh Issue: 1,00,00,000 shares (aggregating to ₹290 crores) Offer for Sale (OFS): NA
	Offer for Sale: NA
IPO Dates	Mentioned below
Price Bands	₹275 to ₹290 per share
Lot Size	50 Shares
Face Value	₹10 per share
Listing Exchange	BSE, NSE
Shareholding pre-issue	3,00,00,000 shares
Shareholding post -issue	4,00,00,000 shares

Important Dates

IPO Activity	Date
IPO Open Date	7 January 2025
IPO Close Date	9 January 2025
Basis of Allotment Date	10 January 2025
Refunds Initiation	13 January 2025
Credit of Shares to Demat	13 January 2025
IPO Listing Date	14 January 2025

IPO Lots

Application	Lots	Shares	Amount
Retail (Min)	1	50	₹14,500
Retail (Max)	13	650	₹1,88,500
S-HNI (Min)	14	700	₹2,03,000
S-HNI (Max)	68	3,400	₹9,86,000
B-HNI (Min)	69	3,450	₹10,00,500

Lead Managers

Lead Managers

Sundae Capital Advisors Limited

Quadrant Future Tek Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	4.90
Price/Earnings (P/E) Ratio	TBD
Return on Net Worth (RoNW)	33.41%
Net Asset Value (NAV)	14.70
Return on Equity	33.41%
Return on Capital Employed (ROCE)	26.12%
EBITDA Margin	24.15%
PAT Margin	9.68%
Debt to Equity Ratio	1.86

Peer Group Comparison

Name of the Company	Face Value (₹)	Revenue (₹ in million)	EPS (Basic) (₹)	P/E	RoNW (%)	NAV (₹)
Quadrant Future Tek Limited	10	1,528.04	4.90	TBA	33.41	14.70
Kernex Micro Systems Limited	10	106.85	-8.83	N/A	N/A	–
HBL Power Systems Limited	1	22,333.56	10.07	49.30	21.52%	44.03
Apar Industries Limited	10	161,529.80	212.10	37.28	21.29%	965.05
Polycab India Limited	10	180,394.44	118.93	56.69	22.02%	545.76

Objectives of the IPO Proceeds

• Funding long-term working capital requirements: ₹1,750 million

• Capital expenditure for development of Electronic Interlocking System: ₹250 million

• Prepayment or scheduled repayment of a portion of certain outstanding working capital loan: ₹250 million

• General corporate purposes