Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

MTAR Technologies Ltd. Public Offering of Equity Shares opening on March 3, 2021

Posted On: 2021-02-25 04:09:35 (Time Zone: Arizona, USA)


MTAR Technologies, a Hyderabad based precision engineering solutions company engaged in the manufacturing and development of mission critical precision components and critical assemblies catering to clean energy, nuclear and space and defense sectors, will open the Bid/Offer period in relation to its initial public offering of Equity Shares (the "Offer"/ "IPO") on Wednesday, March 3, 2021 and close on Friday, March 5, 2021. The price band for the Offer has been decided at Rs. 574 - Rs. 575 per Equity Share. The Company and the Selling Shareholders may, in consultation with the book running lead managers (the "BRLMs"), consider participation by Anchor Investors which shall be one Working Day prior to the Bid/Offer Opening Date, i.e. Tuesday, March 2, 2021. MTAR has, in consultation with the Book Running Lead Managers, undertaken a Pre-IPO Placement of 1,851,851 Equity Shares, aggregating to Rs. 100 Cr with Axis and SBI mutual funds.

Key Highlights of IPO

- Price Band of Rs. 574 - Rs. 575 per equity share of face value of Rs. 10 each ("Equity Share")

- Bid/Offer Opening Date - Wednesday, March 3, 2021 and Bid/Offer Closing Date - Friday, March 5, 2021

- Minimum Bid Lot is 26 Equity Shares and in multiples of 26 Equity Shares thereafter

- The Floor Price is 57.40 times the Face Value of the Equity Shares and the Cap Price is 57.50 times the Face Value of the Equity Shares.

The IPO is a fresh issuance of upto 21,48,149 equity shares, of Rs 10 face value, aggregating up to 124 Cr and an Offer for sale of up to 8,224,270 equity shares aggregating up to Rs 473 cr, of face value of Rs 10 each, by Selling Shareholders. The Company proposes to utilise the Net Proceeds from the Fresh Issue towards repayments of borrowings by the Company, funding working capital requirements and for general corporate purposes.

The Company's key strength lies in its engineering capabilities which has enabled it to consistently offer quality complex precision manufactured assemblies and components to its customers in highly-valued strategic and key sectors like clean energy, nuclear, and space and defense segments. MTAR Technologies' key portfolio comprises of three kinds of products in the clean energy sector, 14 kinds of products in the nuclear sector and six kinds of products in the space and defence sectors. Delivery of complex products with stringent quality requirements within stipulated timelines in majority of cases has earned MTAR a long-standing relationship with its customers such as Nuclear Power Corporation of India Limited ("NPCIL"), the Indian Space Research Organisation ("ISRO"), the Defence Research and Development Organisation ("DRDO"), and Bloom Energy (USA).

JM Financial and IIFL Securities are appointed as the BRLMs to the Issue.

The Offer is being made through the Book Building Process and in compliance with Regulation 6(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations wherein not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Portion"). Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations subject to valid Bids being received from them at or above the Offer Price.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

India Pesticides Limited Issue subscribed 1.29 times, Retail portion booked 2.51 times on day 1

India Pesticides Limited raises 240 Cr from 12 Anchor Investors

GR Infraprojects Limited gets SEBI approval to float IPO

India Pesticides Limited IPO to open on Wednesday, June 23, 2021 and close on Friday, June 25, 2021

Sona Comstar IPO subscribed 2.33 times, QIB portion booked 3.54 times

Shyam Metalics IPO subscribed 121.42 times, NII portion booked 339.98 times

Dodla Dairy Limited raises Rs. 156.05 crore from 18 anchor investors

Top 10 Things To Know about Krishna Institute of Medical Sciences Ltd

Top 10 Things To Know about Dodla Dairy IPO

Sona Comstar Retail book fully subscribed on Day 2

Shyam Metalics subscribed 3.63 times, Retail portion booked 5.80 times on Day 2

Shyam Metalics subscribed 1.22 times, Retail portion booked 2.19 times on Day 1

Paras Defence And Space Technologies Limited gets SEBI approval to float IPO

Sona Comstar subscribed 11%, Retail portion booked 52% on Day 1

Sona Comstar raises INR 2,498 Crores, 45% of the total IPO size, in India's 3rd largest ever IPO anchor book

Shyam Metalics raises Rs. 270 Cr from 21 Anchor Investors

Dodla Dairy Limited IPO to hit markets on June 16, 2021

Krishna Institute of Medical Sciences Limited's IPO opens for subscription on Wednesday, June 16, 2021

Utkarsh Small Finance Bank gets SEBI approval to float IPO

Global Automotive Supplier Sona Comstar IPO to open on June 14, 2021, closes on June 16, 2021

Shyam Metalics & Energy Limited's IPO to open on June 14, 2021

Kolkata Steel Major, Shyam Metalics & Energy receives SEBI Nod for Rs. 1107 cr IPO

Car Trade Tech files for Rs. 2000 Crores IPO

Retail focused HFC, Aptus Value Housing files for Rs. 3000 Cr IPO

Leading QSR Player, Devyani International files for Rs. 1400 Cr IPO

South Cement Major, Penna files for Rs 1550 Crore IPO

GoAir files DRHP with SEBI for Rs. 3,600 crore IPO

Sona Comstar receives SEBI Nod for Rs. 6000 crore IPO

Nirma Group backed, Nuvoco Vistas files for 5k cr IPO

POWERGRID Infrastructure Investment Trust to open IPO of its Units on April 29, 2021 and close on May 3, 2021

Udaipur based GR Infraprojects Ltd files for IPO

Macrotech Developers IPO final day: Issue subscribed 1.37 times, QIB portion booked 3.06 times

Macrotech Developers Limited subscribed 35% on Day 2

Macrotech Developers Limited subscribed 27%, QIB portion booked 59% on Day 1

Vadodara based Tatva Chintan Pharma Chem Limited plans for IPO files DRHP with SEBI

Macrotech Developers Limited IPO to open on April 7, 2021, closes on April 9, 2021

Haridwar based, V-Marc India subscribed 1.54 times on issue closing

SME IPO V-Marc India subscribed 63% on Second Day

Grilled to Perfection: Barbeque Nation subscribed 5.98 times overall

Barbeque Nation overall subscribed 1.98 times on Day 2

Barbeque-Nation raises Rs. 202 Cr from 15 Anchor Investors

V-Marc India Limited Initial Public Offering of Equity Shares opens

Gujarat based, Exxaro Tiles files for Rs. 160 cr IPO

Paras Defense And Space Technologies Ltd. files for IPO

Craftsman Automation Limited IPO to open on March 15, 2021, Price band fixed at ₹1,488 to ₹1,490 per Equity Share

Laxmi Organic Industries Limited IPO to open on Monday, March 15, 2021

Anupam Rasayan India Limited IPO of Equity Shares to open on Friday, March 12, 2021

MTAR Technologies sky-rockets with record 200.79 times overall subscription on Day 3

Utkarsh Small Finance Bank files for Rs. 1350 cr IPO

MTAR Technologies overall subscribed 10.27 times on Day 2


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020