Quadrant Future Tek Limited has informed the Exchange regarding Notice of Postal Ballot
QUADFUTURE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Quadrant Future Tek Limited has issued a Postal Ballot notice seeking shareholder approval to withdraw INR 8.57 crore from its IPO Monitoring Account to reimburse issue-related expenses the company paid from its own funds before receiving IPO proceeds. The company had raised INR 290 crore in January 2025 through a fresh issue of 1 crore equity shares at INR 290 per share, with net proceeds of INR 260.78 crore earmarked for four objects: working capital for the Speciality Cable Division (INR 149.72 crore), Electronic Interlocking System capex (INR 24.38 crore), repayment of working capital term loans (INR 23.62 crore), and general corporate purposes (INR 63.06 crore). The INR 8.57 crore covers BRLM fees (INR 1.39 crore), listing and regulatory fees (INR 4.75 crore), brokerage and commission (INR 0.70 crore), and other IPO costs, all already disclosed in the IPO Prospectus. The company clarifies this does not change the stated Objects of the Issue. E-voting runs from January 15, 2026 to February 13, 2026, with results expected by February 17, 2026.
This is a routine administrative reimbursement from IPO funds the company had already fronted; it does not change the use of IPO proceeds or the business plans disclosed at the time of listing. For shareholders, the resolution is a procedural formality with no direct impact on earnings or business strategy, though approval is required to complete the intended IPO fund utilisation.