MTAR Technologies ovesubscribed 10.27 times on Day 2

Our Bureau Hyderabad | Updated on March 04, 2021

MTAR Technologies, a Hyderabad based precision engineering solutions company, has received bids of 7,45,58,536 shares against the offered 72,60,694 equity shares, as per the 5:00 pm data available on the bourses.

The portion reserved for Retail category was subscribed 16.55 times. While the Qualified Institutional Buyer category was subscribed 0.96 times, the Non-Institutional Investor category was subscribed at 8.04 times.

The total size of the offer is ₹597 cr at the upper price band of ₹575 per share

The offer consists of a fresh issuance of equity shares aggregating up to 124 cr and an Offer for sale of equity shares aggregating up to ₹473 cr; of face value of ₹10 each. The minimum bid lot is of 26 equity shares, thereafter in multiples. The price band has been fixed at ₹574 – ₹575 per Equity Share. Prior to the IPO opening the company raised ₹100 cr via a pre IPO placement to SBI MF and Axis Mutual Fund.

Published on March 04, 2021

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