InvestorQ : What is your view on the MTAR IPO that will be launched shortly?
Angel dcosta made post

What is your view on the MTAR IPO that will be launched shortly?

Juvina Maggie answered.
6 months ago

With a slew of public issues already up and running, the latest to join the bandwagon is the IPO of MTAR Technologies, a company based out of Hyderabad and catering to a host of defence and research organizations in India. The IPO of MTAR Technologies will open for subscription on March 03 and close on March 05 with both the days being inclusive.

MTAR is a Hyderabad-based precision engineering solutions company. It counts many of India’s top research institutions and defence related establishments among its clients. The price band for the IPO has been set at Rs.574-575 per share. In the GMP market, the stock has already started trading at a premium of 43% to its issue price band upper limit.

The total size of the MTAR public issue will be for an amount of Rs.597 crore which will include a fresh issue of an amount of Rs.124 crore and an offer for sale or OFS to the tune of Rs.473 crore. MTAR has already done a pre-IPO placement of Rs.100 crore with two of India’s leading domestic institutional investors viz. Axis Mutual Fund and SBI Mutual Fund.