Beware the quantum computers
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
MTAR Technologies has set a price band of Rs. 574–Rs. 575 per equity share for its initial public offering of equity shares.
The IPO of the Hyderabad-based precision engineering solutions company, engaged in the manufacture and development of mission critical precision components and critical assemblies catering to clean energy, nuclear and space and defence sectors, will open on March 3.
The company and the selling shareholders may, in consultation with the book-running lead managers, undertake a Pre-IPO Placement of 1,851,851 equity shares, aggregating to Rs. 100 crore, with the Axis and SBI mutual funds.
The IPO is a fresh issuance of up to 21,48,149 equity shares of Rs 10 face value, aggregating up to Rs 124 crore and an offer-for-sale of up to 8,224,270 equity shares aggregating to Rs 473 crore, 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.
MTAR key portfolio comprises the clean energy sector, 14 kinds of products in the nuclear sector and six kinds of products in the space and defence sectors. IT’s customers include Nuclear Power Corporation of India Ltd, Indian Space Research Organisation, the Defence Research and Development Organisation and Bloom Energy (USA).
The offer puts the valuation at Rs 1,600 crore. It is being made through the Book Building Process.
Parvat Srinivas Reddy, Promoter and Managing Director, MTAR Technologies, said, “the company has seven manufacturing units, including an export-oriented unit in Hyderabad. It is in the process of establishing an additional manufacturing facility at Adibatla in Hyderabad, which is expected to become operational in fiscal 2022.”
MTAR’s contribution was integral to the Chandrayaan 2 and Mangalyaan missions. JM Financial and IIFL Securities have been appointed as BRLMs to the issue.
Today’s encryption technology will be putty in the hands of those running the post-quantum world. How equipped ...
Rocketship’s Anand Rajaraman on getting pitches from places like Rameswaram and Patna
Bengaluru-based Archeron group plans to open five banks that are run entirely by AI and quantum technologies
Ably skippered by N Srinivasan, India Cements is upping its post-Covid-19 game by expanding capacity
Three-in-one: Passive debt funds come at a low cost and have high-quality portfolios. Some offer return ...
Trend in the rupee movement and Q4 earnings can give direction to the market
There is room for improvement in fund transfer options
Silver looks positive but lacks the higher volumes required to substantiate bullishness
Murder is a theme that is unlikely to darken and yellow with time, the writer Truman Capote had once said.
In her novel based on the life of Rani Jindan Kaur, author Chitra Banerjee Divakaruni crafts a hero for the ...
A domineering father, three resentful sons and a vile plan — director Dileesh Pothan, screenwriter Syam ...
Actor Adil Hussain on theatre, communal amity and citizenship in a new book about Assam and its many ...
Marketers are padded up, sponsorship deals have been struck, and campaigns are rolling out. Now let the games ...
And what marketers can possibly do to bring it back in our lives
The agency has changed form over the years but its lustre has not dimmed
Media Factory has purchased the majority stake held by Sam and Lara Balsara of Madison World in Madison Media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor