One of India’s leading engineering companies, MTAR Technologies Ltd, has come up with an upcoming IPO. The company has filed its final Red Herring Prospectus with the SEBI and is looking to issue its shares to the public in the month of March, 2021. Here are some of the most important MTAR Technologies Ltd IPO details. 

About the company

Ever since the company’s incorporation in the year 1999, MTAR Technologies Ltd has always been in the business of precision engineering and manufacturing of sensitive precision components. In addition to manufacturing, the company is also involved in assembly, fabrication, precision machining, testing, and quality control.

Most of the company’s products and services are delivered to institutions that require mission-critical components to function. These institutions are placed in nuclear, defence, and space sectors and include ISRO, DRDO, Rafael, and NPCIL, among others.

MTAR Technologies Ltd’s product portfolio is manufactured through 7 sophisticated manufacturing facilities that are spread out through the city of Hyderabad. The company has been enjoying consistent net profits over the past two years of around Rs. 31 to Rs. 39 crores.

MTAR Technologies Ltd IPO details    

Let’s now move on to the more interesting part of the latest IPO. Here are some of the key details including the MTAR Technologies Ltd IPO date and the MTAR Technologies Ltd IPO share price.

MTAR Technologies Ltd IPO date

The date of opening of the new IPO from MTAR Technologies Ltd has been notified as March 03, 2021. After staying open for 2 days, the issue would come to a close on March 05, 2021.

MTAR Technologies Ltd IPO issue size

The total issue size of the upcoming IPO is around 10,372,419 equity shares, aggregating around Rs. 596.41 crores. The issue consists of both a fresh issue of shares as well as an Offer for Sale (OFS) from the promoters as well.

The company is likely to issue around 2,148,149 equity shares worth Rs. 123.52 crores through this IPO. Whereas, the remaining Rs. 472.90 crores would be generated from the OFS from the promoters. Around 8,224,270 equity shares are expected to be sold through this OFS route.

MTAR Technologies Ltd IPO share price

Since it is a traditional book-building issue, the price band has been set at Rs. 574 to Rs. 575 per equity share. The company would collect around Rs. 564 to Rs. 565 per share are premium through the sale of its shares.

MTAR Technologies Ltd IPO listing

The shares of MTAR Technologies Ltd would be listed on both the stock exchanges of the country - the Bombay Stock Exchange and the National Stock Exchange.

MTAR Technologies Ltd IPO objectives

The company is looking to use the net proceeds from this new IPO issue towards part or full repayment of its borrowings, financing its working capital requirements, and for meeting other corporate purposes.

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