Shares of MAR Technologies on Monday almost doubled on listing on the stock exchanges. The shares were listed at ₹1,063.90 on the BSE, an 85 per cent premium over the issue price of ₹575. On the NSE, the stock debuted at ₹1,050, a premium of 82.6 per cent.
Currently, the stock is ruling at ₹1,094.65, up 90.37 per cent, on the BSE. Earlier, the stock reached a high of ₹1,154.
The IPO of MTAR Technologies had received an overwhelming response from the all categories of investors. The IPO was subscribed 200.79 times, receiving total bids for 145.79 crore shares as against 72.60 lakh shares on offer.
The portion reserved for retail was subscribed 28.4 times. While the qualified institutional buyer category was subscribed 164.99 times and the non-institutional investor category at 650.79 times.
Ahead of the IPO, the Hyderabad-based company had raised ₹179 crore from 15 anchor investors which included Nomura Funds, Ireland Public Limited Company, Jupiter South Asia Investment Company, White Oak Capital and Goldman Sachs.