InvestorQ : What has been the response to the MTAR IPO as of the end of Thursday 04 March?
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What has been the response to the MTAR IPO as of the end of Thursday 04 March?

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Aditi Sharma answered.
5 months ago
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After a string tremendous responses to IPOs in the last few weeks, the appetite has not fully been whetted as the extent of oversubscription almost appears to continue. That trend has also continued for the Rs.597-crore IPO of MTAR Technologies, precision engineering solutions company based out of Hyderabad. As of the end of the second day of subscription on 04 March, the IPO was subscribed 10.27 times.

The IPO which opened on 03 March and closes on Friday, 05 March has already seen huge retail subscriptions. MTAR received valid bids for 7.45 crore shares against the total IPO offer size of 72.6 lakh shares. This is as of the exchange data at the end of the second day of the IPO subscription. While retail was subscribed 16.55 times, HNI got subscribed 8.04 times and QIB just 0.96 times. However, QIB applications typically come in on the last day only.

It may be recollected that MTAR had already raised a sum of Rs.179 crore from anchor investors ahead of the IPO. As I mentioned earlier, MTAR is based out of Hyderabad and operates as a precision engineering company. It essentially caters to the precision solution needs of the nuclear, aerospace and missile segment in India. Its client roster include some of the marquee names like ISRO, DRDO, NPCIL, HAL and Bharat Dynamics.

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