Quadrant Future Tek IPO day 3: GMP, subscription status to review. Apply or not?

Quadrant Future Tek IPO: Bidding for the initial public offering began on 7 January 2025 and closed on 9 January 2025. Meanwhile, after two days of bidding, the grey market remains bullish on Quadrant Future Tek shares following strong Quadrant Future Tek IPO subscription status. According to stock market observers, Quadrant Future Tek IPO GMP today is ₹210, 72 per cent higher than the upper price band of the public issue. Quadrant Future Tek IPO subscription status By the end of day 3 of bidding, the book build issue had been subscribed 185.81 times; the retail portion of the public issue had been booked 243.07 times, and the NII portion of the initial offer had been filled 254.16 times. Quadrant Future Tek IPO review Giving a 'subscribe' tag to the book build issue, the Marwadi Shares and Finance said, "Considering the FY24 Sales of ₹152 Cr, the company is going to list at an MCap/Sales of 7.64x with a market cap of ₹1,160.11 Cr, whereas its peers Kernex Micro Systems Limited, HBL Power Systems Limited, Apar Industries Limited and Polycab India Limited Ltd are trading at MCap/Sales ratio of approximately ~27.5x, ~7.72x, ~2.47x and ~5.55x respectively.