Ashish Kacholia, Capri Global & others invest Rs 48 crore in Quadrant Future Tek's pre-IPO round

Quadrant Future Tek Limited has raised Rs 48 crore from Ashish Kacholia, Capri Global Holdings, and other individual investors in its pre-IPO round. On October 26, the firm said it issued 20 lakh equity shares to individual and institutional investors at Rs 240 per share (including a premium of Rs 230), totalling Rs 48 crore.

Prominent participants in the stake sale included Suryavanshi Commotrade Private Limited which bought 765,000 equity shares; Capri Global Holdings Private Limited, which received 425,000 shares; and Planify Capital Limited, which obtained 125,000 shares.

Ace investor Ashish Kacholia is a promoter in Suryavanshi Commotrade.

Sundae Capital Advisors Private Ltd will act as the sole book-running lead manager, while Link Intime India Private Limited will serve as the registrar to the issue.

As per the DRHP filed in June 2024, the public issue with a face value of Rs 10 per equity share is entirely a fresh issue of up to Rs 275 crore with no offer for sale component. In September 2024, the company received Sebi’s final observation for the IPO.

Quadrant Future Tek is a supplier of speciality cables for the defence sector and railroad rolling equipment. It boasts end-to-end infrastructure for producing solar and electric vehicle cables at its manufacturing plant. Its design centres are located in Bengaluru, Karnataka, and Hyderabad, Telangana, and its production facilities are based in Basma, Mohali.