MTAR Technologies, a Hyderabad-based and engineering solutions company, all going to release the Initial Public Offering (IPO) for appendage on March 3, 2021. The MTAR technologies also shared a fixed price of Rs. 574-575 per-share value of each Rs. 10. It is looking that the company wants to lift Rs. 596.41 crore, at the upper side. It is to be noted that the subscription will end on 5th March 2021. The new issue of 21.48 lakh valuation shares by the MTAR and OFS of 82.24 lakh valuation shares will be shared by supporters and lenders.
MTAR Technologies IPO Review
On Thursday the market of Grey, MTAR Technologies handled the grey market premium of Rs. 245 which is the IPO price at the upper end. MTAR Technologies shares were dealing at Rs. 820 in the Morning which was suggested a grey market premium of 42.60 percent. The promoters of the company, P Leelavathi will start selling of 4.5 lakh valuation shares via offer for sale. While more promoters will sell their shares.
- Parvat Srinivas Reddy – 3 Lakh Shares
- Kalpana Reddy – 1.49 Lakh Shares
- Saranya Loka Reddy – 3 Lakh Shares
- C Usha Reddy – 2 Lakh Shares
- G Kavitha Reddy – 3 Lakh Shares
- D Anitha Reddy – 1.25 Lakh Shares
- K Shalini – 2.25 Lakh Shares
- A Manogna – 3 Lakh Shares
The Qualified Institutional Buyers (QIB) will get up to 50 percent of the funding of Rs. 14,951 per lot. The company has booked less than 35 percent of the issue for the retail investors and the rest 15 percent will be available for the who are Non-Institutional category. The lead managers of the issue are JM Financial and IIFL Securities. Both are running as lead managers. On the other side, the registrar selected for this is KFin Technologies Private Ltd.
This is a Hyderabad company, which has accurate engineering capabilities to creates nuclear and pressurized reactors, missiles, aircraft components, aerospace engines, and many more components and assemblies.
In 2021, MTAR Technologies will be chosen as the ninth public issue after many more companies like Indian Railway Finance Corporation (IRFC), Indigo Paints, Home First Finance Company India, Stove Kraft, Brookfield India REIT, Nureca, RailTel Corporation, and Heranba Industries. Also, the current Government is planning to make as Make In India and becoming a sender in the defence portion as well. Also, rising to make administration for defense and trying to provide such a great project to the companies.
