Quadrant Future Tek
Book Building issueMainboardNSE₹290 Cr issue
+28.97%
Listing gain over issue price
Issue size
₹290 Cr
1 lot at cut-off
₹14,500
Lot size
50shares
Open
07 Jan 2025
Close
09 Jan 2025
Allotment
10 Jan 2025
Listing
14 Jan 2025
Listing performance
Issue price
₹290
Listed at
₹374
Listing-day close
₹448.75
Latest price
₹403.80
Close on 23 Oct 2026
Listing gain
+28.97%
Return since issue
+39.24%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 07 Jan 2025 – 09 Jan 2025
- Listing date
- 14 Jan 2025
- Face value
- ₹10 per share
- Issue price
- ₹290 per share
- Lot size
- 50 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹290 Cr
- Market cap at offer price
- ₹1,160 Cr
- Promoter holding
- 93.33% → 70.00% pre-issue → post-issue
- ISIN
- INE0LRY01011
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Sundae Capital Advisors Pvt.Ltd.
- Registered office
- Village Basma, Tehsil, Banur, Punjab
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 45,00,000 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 50 shares per lot, in multiples, at ₹290
| 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 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
45,00,000
Anchor portion
₹131 Cr
at ₹290 per share
Valuation and performance
Valuation at offer price
₹290 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.90 | −6.05 |
| P/E (×) | 59.18 | — |
| Price to book (×) | 19.73 | — |
| Market cap | — | ₹1,160 Cr |
No price-to-earnings multiple is shown: the company reported a loss, and an earnings multiple struck on negative earnings would read as a cheap valuation while meaning the opposite.
Key performance indicators
Latest reported period
- Return on net worth
- 33.41%
- ROCE
- 26.12%
- Debt / equity
- 1.86
- PAT margin
- 9.68%
- NAV per share
- ₹14.70
- Price to book
- 19.73
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Quadrant Future Tek
Quadrant Future Tek Limited, incorporated in 2015, operates in two main divisions: (1) Speciality Cables Division, which manufactures electron beam irradiated cables used in railways rolling stock and naval defence industries, with end-to-end infrastructure for solar and EV cables; and (2) Train Control & Signalling Division, which develops new generation KAVACH (Automatic Train Protection/Operations) systems for Indian Railways. The company operates from a single integrated manufacturing facility in Basma, Mohali, Punjab equipped with advanced equipment including an Electron Beam Irradiation Centre and automated PCB assembly line. It received a purchase order on December 12, 2024 from Chittaranjan Locomotive Works for supply of On-board Kavach equipment in 1,200 locomotives valued at ₹9,786.06 million.
Company Analysis
from RHPQuadrant Future Tek Limited is a research-oriented company engaged in developing Train Control and Signalling Systems (KAVACH) for Indian Railways and manufacturing specialty cables for railway, naval defence, solar, and electric vehicle applications.
Quadrant Future Tek Limited, incorporated in 2015, operates in two main divisions: (1) Speciality Cables Division, which manufactures electron beam irradiated cables used in railways rolling stock and naval defence industries, with end-to-end infrastructure for solar and EV cables; and (2) Train Control & Signalling Division, which develops new generation KAVACH (Automatic Train Protection/Operations) systems for Indian Railways. The company operates from a single integrated manufacturing facility in Basma, Mohali, Punjab equipped with advanced equipment including an Electron Beam Irradiation Centre and automated PCB assembly line. It received a purchase order on December 12, 2024 from Chittaranjan Locomotive Works for supply of On-board Kavach equipment in 1,200 locomotives valued at ₹9,786.06 million.
Train Control and Signalling SystemsSpecialty Cables ManufacturingRailwaysNaval DefenceSolar PowerElectric Vehicles
Objects of the Issue
- Funding long-term working capital requirements of our Company (Specialty Cable Division) ₹1,497.22 million p.27
- Capital expenditure for development for Electronic Interlocking System ₹243.75 million p.27
- Prepayment or repayment of all or a portion of outstanding working capital term loan availed by our Company ₹236.19 million p.27
- General Corporate Purpose ₹630.60 million p.27
- Funding capital expenditure for expansion of manufacturing facility and product development activities p.122
- Repayment of term loans ₹ 236.19 million p.71
- General corporate purposes p.122
- Funding long-term working capital requirements of our Company (Specialty Cable Division) ₹ 1,497.22 million p.125
- Capital expenditure for development for Electronic Interlocking System ₹ 243.75 million p.125
- Prepayment or repayment of all or a portion of outstanding working capital term loan availed by our Company ₹ 236.19 million p.125
- General corporate purposes ₹ 630.60 million p.125
- Not specified in this part of the document
- Repayment of borrowings
- Funding capex for Electronic Interlocking System development p.427
- General corporate purposes
Issue Structure
- Total Issue
- ₹2,900.00 million
- Fresh Issue
- Up to 1,00,00,000 Equity Shares of face value ₹10 each aggregating up to ₹2,900.00 million
- Offer for Sale
- Not applicable
- Price Band
- Floor Price ₹275 per Equity Share; Cap Price ₹290 per Equity Share
- Lot Size
- 50 Equity Shares and in multiples of 50 Equity Shares thereafter
- Face Value
- ₹10 each
Business Model
The company earns revenue primarily from manufacturing and supply of speciality cables to railways (both Indian Railways and private sector), naval defence public sector undertakings, and from Train Control Systems division serving Indian Railways. Revenue is generated through direct sales contracts and orders.
Business Segments
Manufactures electron beam irradiated cables used in railways rolling stock and naval defence industries, with infrastructure for solar and EV cables
Develops new generation Automatic Train Protection (ATP) and Automatic Train Operations (ATO) systems including KAVACH for Indian Railways
Manufacturing and supply of speciality electron beam irradiated cables for use in railway applications through Indian Railways (Zonal railways / divisions / production units)
Supply of power and control cables used in Naval ships to public sector undertakings in the Naval (Defence) Industry; manufacture of cables requiring braiding process for protection from Electromagnetic Interference and Electromagnetic Compatibility shielding
Development and supply of Train Collision Avoidance System (KAVACH equipment) and related train control and signalling systems; includes development of Automatic Train Protection System using radio frequency identification to detect and stop possible train collisions
Manufacture of speciality cables for rolling stock sector and defence industry. The Company offers speciality cables for industrial usage and applications where fire and safety, light weight and long term performance are of utmost importance. Product portfolio includes railways rolling stock cables, naval defence cables, marine cables, solar PV cables and automotive cables for EVs.
Development and deployment of Train Control and Signalling Systems under the KAVACH (Automatic Train Protection) system for Indian Railways. The division focuses on development of Electronic Interlocking Systems and other railway safety measures to be implemented by Ministry of Railways.
Manufactures specialty cables for railway rolling stock including single core/multi-core control & power cables and signalling cables for Railway Coaches, Locomotives & EMU's using electron beam irradiation technology
Manufactures specialty cables for naval ships including single core/multi-core, screened/un-screened cables approved by DGQA and Indian Register of Shipping
Designs, develops and manufactures Train Collision Avoidance System (Kavach) equipment including on-board and trackside components; provides design, development, supply, installation, testing and commissioning services
Other operational income
Manufacturing of specialty cables including single core cables, twin and three core cables, multi core cables for railways, ships, submarines, aircraft, defence, renewable energy, electric vehicles and electrical connectors, wiring harness and related accessories.
Designing, research and development, manufacture, installation, maintenance, servicing of embedded systems for railway signalling, train control and management applications and other related train protection system including related software and hardware, including KAVACH (Train Collision Avoidance System) and Electronic Interlocking System.
Manufacturing and sale of specialized cables for Indian Railways and private sector railways applications
Manufacturing and sale of specialized cables for defence PSUs
Development and sale of Train Collision Avoidance System (TCAS) and KAVACH equipment for train control and signalling
Manufacture and sale of specialty cables to Indian Railways through Zonal railways, divisions, and production units; also supplies to private sector companies and private sector group companies serving railways
Manufacture and sale of power and communication cables to Naval (Defence) manufacturing units and public sector undertakings
Development and supply of Train Collision Avoidance System (TCAS) and KAVACH equipment including hardware and software for Indian Railways; includes research, design, and development of train control products
Scrap sales, samples sent on returnable basis for KAVACH equipment, job work charges and other operating income
SWOT Analysis
Strengths
- • Research-oriented company with proprietary Train Control and Signalling Systems (KAVACH) technology(p.26)
- • Specialty cable manufacturing capability with Electron Beam Irradiation Centre and end-to-end infrastructure(p.26)
- • Major purchase order from Chittaranjan Locomotive Works for On-board Kavach equipment(p.26)
- • Collaborative ownership structure with four independent business groups providing balanced decision-making(p.26)
- • Significant recent railway locomotive order(p.56)
- • Long-term revenue stream from locomotive order(p.56)
- • Technical clearance and field trial approval for KAVACH system from RDSO(p.136)
- • Major purchase order from CLW for KAVACH equipment supply(p.149)
- • In-house design and product development capabilities for rail signalling products(p.134)
- • Exclusive MOU with RailTel for KAVACH delivery opportunities(p.142)
- • Unique technology for specialty cable manufacturing meeting stringent multi-sector requirements(p.142)
- • Advanced manufacturing facilities with diverse power and control cable range(p.142)
- • Approved vendor status with Indian Railways for specialty cables(p.223)
- • Developmental vendor status for KAVACH systems with technical clearance(p.223)
- • Certified vendor to Ministry of Defence for specialty cables(p.223)
- • First deployment order for KAVACH system at South Central Railways(p.233)
- • Recent large locomotive order from CLW for KAVACH equipment(p.233)
- • Established electron beam irradiation facility for specialty cable manufacturing(p.233)
- • Specialized cable manufacturing for railways and defense sectors(p.283)
- • Significant revenue concentration from Indian Railways and PSUs providing stable demand(p.351)
- • Developed Train Collision Avoidance Software (TCAS) with RDSO approval for type testing(p.287)
- • Established manufacturing infrastructure with freehold land and building assets(p.326)
- • Technology-driven company with indigenously developed Train Collision Avoidance System (TCAS) and Kavach equipment(p.411)
- • Vertically integrated manufacturing with end-to-end infrastructure for specialty cables and Train Control systems(p.411)
- • Specialized Electron Beam Irradiation Centre for cable manufacturing with proprietary capabilities(p.411)
- • Significant order from Chittaranjan Locomotive Works (CLW) for 1,200 locomotives with 11-year maintenance contract(p.433)
Weaknesses
- • Single manufacturing facility dependency with risks of equipment breakdown(p.40)
- • History of inter-promoter disputes and litigation regarding competing activities(p.39)
- • Recent loss and significant profit volatility with negative returns in recent period(p.45)
- • Multiple regulatory non-compliances and penalties levied by authorities(p.49)
- • High employee attrition rate of 47.64% in Fiscal 2024(p.53)
- • Criminal litigation involving Promoter and Non-Executive Director Aikjot Singh(p.54)
- • Promoter litigation risk(p.54)
- • Heavy concentration of revenue from limited suppliers(p.55)
- • Extreme concentration of revenue from limited customers(p.56)
- • Heavy dependence on related parties for both supplies and revenue(p.56)
- • Low capacity utilization in specialty cable division(p.57)
- • Zero capacity utilization for KAVACH equipment(p.58)
- • Negative operating cash flow(p.59)
- • Statutory dues defaults and delays(p.59)
- • Qualified audit opinion on financial statements(p.60)
- • Significant related party transactions with conflicts of interest(p.54)
- • Long-outstanding trade payables(p.75)
- • Material contingent liabilities from bank guarantees(p.73)
- • Substantial intangible asset impairment risk(p.67)
- • Unsecured promoter loans repayable on demand(p.74)
- • Qualified auditor opinion from predecessor auditor(p.60)
- • Significant operating loss in H1 FY25 with negative EBITDA margin(p.145)
- • High debt-to-equity ratio of 3.05 as of September 30, 2024(p.145)
- • Low current ratio indicating liquidity strain(p.145)
- • Deteriorated debt service coverage ratio of 0.10 in H1 FY25(p.136)
- • Dependence on few major customers in railways and defence sectors(p.127)
- • Concentrated bank guarantee and retention money requirements creating working capital pressure(p.127)
- • Historical dispute among promoter groups over competing ventures(p.234)
- • Promoter group companies engaged in competing railway industry businesses(p.261)
- • Provisional approval status for KAVACH systems pending ISA Certification(p.223)
- • Recent operating loss in interim period(p.277)
- • High debt-to-equity ratio of 3.05 as at September 2024, indicating significant financial leverage(p.354)
- • Negative earnings in H1 FY2024-25 with loss of Rs 120.50 million, reflecting operational challenges(p.345)
- • Heavy dependence on a few major customers, primarily Indian Railways(p.351)
- • Significant intangible asset concentration of Rs 463.14 million related to TCAS software development, subject to commercialization risk(p.798)
- • Extreme dependence on single customer - Indian Railways represented 41.23% of revenue for September 30, 2024 period(p.413)
- • Train Control and Signalling Division generating substantial losses despite high capital deployment(p.420)
- • High leverage with debt-to-equity ratio of 2.87 pre-IPO(p.435)
- • Significant concentration of procurement with top 5 suppliers representing 87.30% of material purchases(p.413)
- • History of non-compliance under Section 42 of Companies Act with penalty of ₹15.80 million(p.438)
- • Pending litigation relating to unreported share transfer by promoter with SEBI for settlement(p.437)
- • Outstanding criminal proceeding against promoter Aikjot Singh for 2008 road accident resulting in deaths, pending since 2011(p.439)
Opportunities
- • Expanding into renewable energy and electric vehicle sectors with specialty cable capabilities(p.26)
- • Growing Indian Railways modernization and safety system adoption(p.26)
- • Expansion of KAVACH deployment across Indian Railways(p.57)
- • Further railway tender participation(p.57)
- • Defence sector expansion opportunity(p.62)
- • Growth in speciality cable business to new sectors(p.69)
- • Expanding specialty cables market for solar and renewable energy applications(p.127)
- • Growing electric vehicle market demand for specialty automotive cables(p.127)
- • Massive Indian Railways network expansion and modernization plans(p.165)
- • National Rail Plan targets to increase freight traffic significantly by 2030(p.165)
- • Specialty cables market projected to grow at 9.8% CAGR through CY30(p.164)
- • Government emphasis on Make in India and indigenous development of railway infrastructure(p.133)
- • Government policy to position India as global hub for electronics manufacturing(p.224)
- • Development of solar cables for electric vehicle charging infrastructure(p.233)
- • Development of cables for electric vehicle transition(p.233)
- • Indian Railways' focus on indigenous TCAS development for train safety(p.223)
- • Expansion into Train Control Systems division with KAVACH equipment commercialization(p.287)
- • Growing railway modernization and signaling infrastructure investment by Indian Railways(p.364)
- • Potential to increase defense sector revenues beyond current PSU sales(p.364)
- • Opportunity to expand private sector customer base for railway cables(p.364)
- • Significant Indian Railways modernization under Kavach project with expansion beyond current deployments(p.432)
- • Strategic partnership with RailTel Corporation for KAVACH implementation in Indian Railways and international markets(p.432)
- • Market expansion into Solar and Electric Vehicle cable segments(p.428)
- • Production of Electronic Interlocking System planned as future development initiative(p.427)
- • Potential for long-term recurring revenue through maintenance contracts post Kavach deployment(p.433)
Threats
- • Dependence on limited number of customers without long-term contracts(p.24)
- • No long-term supplier agreements expose company to input cost and availability risks(p.24)
- • Highly competitive industry with potential for reduced market share(p.24)
- • Evolving and uncertain adoption of new Train Control technologies by Indian Railways(p.24)
- • No prior experience in Train Control Systems segment exposes to execution risk(p.42)
- • Regulatory approval dependency for Kavach equipment supply to Indian Railways(p.43)
- • Dependence on supplier performance for key materials(p.55)
- • Raw material price volatility(p.55)
- • Loss of major customer would materially impact revenue(p.58)
- • No long-term customer contracts(p.57)
- • Indian Railways policy changes(p.60)
- • Government procurement delays and payment issues(p.61)
- • Complex KAVACH technology requires regulatory approval(p.57)
- • KAVACH technology compatibility with future networks(p.64)
- • High competition in cable manufacturing(p.77)
- • Commodity price volatility affects raw materials(p.69)
- • Power supply disruptions risk(p.78)
- • Environmental and regulatory compliance requirements(p.76)
- • Radiation safety compliance requirements(p.77)
- • Government policy changes on labour(p.85)
- • Economic slowdown impact on demand(p.85)
- • Inflation in India affecting costs(p.86)
- • Funding requirements and deployment of Net Proceeds not appraised by bank or financial institution(p.126)
- • Contingency of EI System development on RDSO approval and Indian Railways implementation(p.135)
- • Regulatory and technical specification changes from RDSO for Electronic Interlocking Systems(p.133)
- • Exposure to geopolitical risks and volatile import prices for semiconductors and components(p.128)
- • Risk of delays and cost overruns in capital expenditure for Electronic Interlocking System development(p.135)
- • Dependence on sustained government policy support for railway modernization and Make in India initiatives(p.133)
- • Dependence on Indian Railways and Ministry of Defence as major customers(p.223)
- • Regulatory requirements for RDSO compliance and vendor approvals(p.223)
- • Stringent environmental and labour compliance requirements(p.228)
- • Requirement for radiation safety licensing and compliance(p.224)
- • Need for hazardous waste management and environmental compliance(p.229)
- • Exposure to foreign exchange risk from imports of services and materials from Italy, USA, and other countries(p.352)
- • Commodity price volatility risk for copper and PVC compounds linked to LME and crude oil prices(p.353)
- • Interest rate fluctuation risk on variable rate borrowings of Rs 832.11 million(p.352)
- • Government regulatory and approval risk for new KAVACH equipment commercialization(p.287)
- • Heavy regulatory and approvals dependence with product development subject to RDSO final approval(p.433)
- • Commodity price volatility in copper and PVC compounds impacting cost of goods sold(p.431)
- • Significant foreign currency exposure from import of services for TCAS and Kavach development, particularly in Euro(p.429)
- • Limited long-term customer contracts with discretionary procurement decisions by government entities(p.433)
- • High working capital requirements due to extended trade receivable collection periods and inventory buildup(p.428)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mohit Vohra | Promoter/Managing Director | 11.67% | 8.75% |
| Amit Dhawan | Promoter/Whole Time Director | 11.67% | 8.75% |
| Amrit Singh Randhawa | Promoter/Whole Time Director | 13.12% | 9.84% |
| Rupinder Singh | Promoter/Whole Time Director | 18.00% | 13.50% |
| Vishesh Abrol | Promoter/Whole Time Director | 7.23% | 5.43% |
| Vivek Abrol | Promoter/Whole Time Director | 8.48% | 6.36% |
| Aikjot Singh | Promoter/Non-Executive Director | 5.00% | 3.75% |
| Rajbir Singh Randhawa | Promoter/Non-Executive Director | 5.47% | 4.10% |
| Rupinder Singh | Promoter / Whole Time Director | — | — |
| Aikjot Singh | Promoter / Non Executive Director | — | — |
| Mohit Vohra | Promoter / Managing Director | — | — |
| Amit Dhawan | Promoter / Whole Time Director | — | — |
| Amrit Singh Randhawa | Promoter / Whole Time Director | — | — |
| Rajbir Singh Randhawa | Promoter / Non Executive Director | — | — |
| Vivek Abrol | Promoter / Whole Time Director | — | — |
| Vishesh Abrol | Promoter / Whole Time Director | — | — |
| Rupinder Singh | Promoter | 18.00% | 13.50% |
| Amrit Singh Randhawa | Promoter | 13.12% | 9.84% |
| Mohit Vohra | Promoter | 11.67% | 8.75% |
| Amit Dhawan | Promoter | 11.67% | 8.75% |
| Vivek Abrol | Promoter | 8.48% | 6.36% |
| Vishesh Abrol | Promoter | 7.23% | 5.43% |
| Rajbir Singh Randhawa | Promoter | 5.47% | 4.10% |
| Aikjot Singh | Promoter | 5.00% | 3.75% |
| Mohan Krishan Abrol | Promoter Group | 6.69% | 5.02% |
| Swinder Kaur | Promoter Group | 2.97% | 2.23% |
| Navneet Kaur | Promoter Group | 1.78% | 1.34% |
| Vipin Abrol | Promoter Group | 0.93% | 0.70% |
| Parminder Kaur | Promoter Group | 0.33% | 0.25% |
| MV Group (Mohit Vohra and Amit Dhawan) | Promoter Group | 23.33% | — |
| NEC Group (Rupinder Singh, Aikjot Singh and Parminder Kaur) | Promoter Group | 23.33% | — |
| ISG Group (Amrit Singh Randhawa, Rajbir Singh Randhawa, Swinder Kaur and Navneet Kaur) | Promoter Group | 23.33% | — |
| Abrol Group (Mohan Krishan Abrol, Vivek Abrol, Vishesh Abrol and Vipin Abrol) | Promoter Group | 23.33% | — |
| Mohit Vohra | Promoter | 11.67% | 8.75% |
| Amit Dhawan | Promoter | 11.67% | 8.75% |
| Amrit Singh Randhawa | Promoter | 13.12% | 9.84% |
| Rupinder Singh | Promoter | 18.00% | 13.50% |
| Vishesh Abrol | Promoter | 7.23% | 5.43% |
| Vivek Abrol | Promoter | 8.48% | 6.36% |
| Aikjot Singh | Promoter | 5.00% | 3.75% |
| Rajbir Singh Randhawa | Promoter | 5.47% | 4.10% |
| Rupinder Singh | Promoter | 19.00% | — |
| Amrit Singh Randhawa | Promoter | 13.50% | — |
| Rajbir Singh Randhawa | Promoter | 6.00% | — |
| Vivek Abrol | Promoter | 9.08% | — |
| Vishesh Abrol | Promoter | 7.75% | — |
| Amit Dhawan | Promoter | 12.50% | — |
| Mohit Vohra | Promoter | 12.50% | — |
| Aikjot Singh | Promoter | 5.00% | — |
| Mohan Krishan Abrol | Promoter | — | — |
| Vivek Abrol | Promoter | — | — |
| Vishesh Abrol | Promoter | — | — |
| Aikjot Singh | Promoter | — | — |
| Rupinder Singh | Promoter | — | — |
| Amrit Singh Randhawa | Promoter | — | — |
| Rajbir Singh Randhawa | Promoter | — | — |
| Mohit Vohra | Promoter | — | — |
Leadership
Satish Gupta · Chairman
Mohit Vohra · Managing Director
Amit Kumar Jain · Chief Financial Officer
Pankaj · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Quadrant Future Tek IPO FAQs
What is the lot size of Quadrant Future Tek IPO?
The minimum lot size of Quadrant Future Tek IPO is 50 shares. One lot costs ₹14,500 at the cut-off price.
When does Quadrant Future Tek IPO open and close?
Quadrant Future Tek IPO opened for subscription on 07 Jan 2025 and closed on 09 Jan 2025.
What is the listing date of Quadrant Future Tek IPO?
Quadrant Future Tek IPO listed on 14 Jan 2025.