Stocks

MTAR Tech raises ₹179 cr ahead of IPO

Our Bureau Chennai | Updated on March 02, 2021

MTAR Technologies has raised ₹178.92 crore from 15 anchor investors. The company has allocated 31.11 lakh shares at ₹575 a share to the anchor investors, who include four FPIs - Nomura Funds Ireland, Jupiter South Asia Investment, White Oak Capital and Goldman Sachs India. The IPO is a fresh issuance of up to 21.48 lakh shares, aggregating up to ₹124 crore and an OFS of up to 82,24,270 shares aggregating up to ₹473 crore. The issue will open for subscription on Wednesday and close on Friday at a price band of ₹574-575. The Hyderabad based company is engaged in the manufacturing and development of mission critical precision components and assemblies catering to clean energy, nuclear and space and defence sectors.

Published on March 02, 2021

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