MTAR Technologies shares will be listed on NSE< BSE today
The share of MTAR Technologies will be listed on BSE and National Stock Exchange (NSE) on Monday. The share will make debut at 10 am. Investors are expecting a bumper listing gain with grey market of the scrip commanding a premium of around 85 per cent over the issue price of Rs 575.
The GMP is currently stable at Rs 485-490 in unofficial market over the IPO price of Rs 575 apiece. This shows that MTRA Technologies share will trade in the range of 1060-1070 when listed. Retail investors who have subscribed for listing gains will look to book profit.
The Rs 597-crore initial public offering of MTAR Technologies was subscribed more than 200 times. The IPO has received bids for 145.79 crore equity shares against an offer size of 72.6 lakh equity stocks.
The portion reserved for retail investors was subscribed 28.4 times, qualified institutional buyers category was subscribed 165 times and non-institutional category received 650.79 times subscription.
MTAR Technologies, a precision engineering solutions company, raised Rs 179 crore from anchor investors.
The IPO comprised of a fresh issuance of upto 21,48,149 equity shares aggregating Rs 123.52 crore and an offer for sale of up to 82,24,270 equity shares worth up to Rs 473 crore by selling shareholders.
MTAR Technologies is a Hyderabad-based company. It has precision engineering capabilities to build nuclear and pressurised water reactors, aerospace engines, missile systems, aircraft components and many such other critical components and assemblies.
MTAR currently operates out of seven manufacturing facilities, including an export-oriented unit located in Hyderabad, Telangana, and has been servicing the defense, aerospace and energy sectors for more than four decades. The company works with clients like Indian Space Research Organization, Defence Research and Development Organization, Nuclear Power Corporation of India Ltd and US-based Bloom Energy Corp, besides catering to other well-known establishments like Bharat Dynamics and Hindustan Aeronautics.
