look news india
Mumbai/New Delhi, 28 October (Hindustan Reporter). Quadrant Future Tech Ltd, a research-oriented new generation company developing train control and signaling systems, has raised Rs 48 crore from Ashish Kacholia, Capri Global and other leading individual investors.
Quadrant Future Tech Ltd on Monday said the company has raised Rs 48 crore in its pre-IPO round from Ashish Kacholia, Capri Global Holdings and other notable individual investors. According to the company, this transaction is a sale of equity shares by the promoters of the company to investors i.e. secondary sale. This is not a new issue or primary sale. The company said that the original IPO size of Rs 275 crore is still intact.
The company, in a public announcement made on October 26, 2024, said that in consultation with its lead bankers, it has issued 2,000,000 equity shares to individual and institutional investors at an issue price of Rs 240 per share (including a premium of Rs 230), Whose total amount is Rs 48 crore. Major participants in this investment round include Suryavanshi Comotrade Pvt Ltd (Ashish Kacholia), which has acquired 765,000 equity shares, while Plantify Capital Ltd has acquired 125,000 shares.
It is noteworthy that Quadrant Future Tech, established in 2015, specializes in manufacturing advanced train control and signaling systems designed to ensure the highest level of safety and reliability for rail passengers. The company also operates an electron beam irradiation center and a manufacturing facility for manufacturing irradiated e-beam cables.