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MTAR Technologies IPO is a book built issue of Rs 596.41 crores. The issue is a combination of fresh issue of 0.21 crore shares aggregating to Rs 123.52 crores and offer for sale of 0.82 crore shares aggregating to Rs 472.90 crores.
MTAR Technologies IPO bidding started from March 3, 2021 and ended on March 5, 2021. The allotment for MTAR Technologies IPO was finalized on Wednesday, March 10, 2021. The shares got listed on BSE, NSE on March 15, 2021.
MTAR Technologies IPO price band is set at ₹574 to ₹575 per share. The minimum lot size for an application is 26 Shares. The minimum amount of investment required by retail investors is ₹14,950.
Iifl Securities Ltd and Jm Financial Limited are the book running lead managers of the MTAR Technologies IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to MTAR Technologies IPO RHP for detailed information.
| IPO Date | March 3, 2021 to March 5, 2021 |
| Listing Date | March 15, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹574 to ₹575 per share |
| Lot Size | 26 Shares |
| Total Issue Size | 10,372,419 shares (aggregating up to ₹596.41 Cr) |
| Fresh Issue | 2,148,149 shares (aggregating up to ₹123.52 Cr) |
| Offer for Sale | 8,224,270 shares of ₹10 (aggregating up to ₹472.90 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 28,611,442 |
| Share holding post issue | 30,759,591 |
MTAR Technologies IPO offers 7,260,694 shares. 2,074,484 (28.57%) to QIB, 1,555,863 (21.43%) to NII, 3,630,347 (50.00%) to RII. 139,628 RIIs will receive minimum 26 shares and (sNII) and (bNII) will receive minimum 364 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 2,074,484 (28.57%) | NA |
| NII (HNI) Shares Offered | 1,555,863 (21.43%) | |
| Retail Shares Offered | 3,630,347 (50.00%) | 139,628 |
| Total Shares Offered | 7,260,694 (100%) |
MTAR Technologies IPO opens on March 3, 2021, and closes on March 5, 2021.
| IPO Open Date | Wednesday, March 3, 2021 |
| IPO Close Date | Friday, March 5, 2021 |
| Basis of Allotment | Wednesday, March 10, 2021 |
| Initiation of Refunds | Friday, March 12, 2021 |
| Credit of Shares to Demat | Monday, March 15, 2021 |
| Listing Date | Monday, March 15, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 5, 2021 |
Investors can bid for a minimum of 26 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 26 | ₹14,950 |
| Retail (Max) | 13 | 338 | ₹194,350 |
| Lot Size Calculator | |||
Parvat Srinivas Reddy, P. Leelavathi, K. Shalini, D. Anitha Reddy, C. Usha Reddy, G. Kavitha Reddy, Anushman Reddy, P. Kalpana Reddy, Saranya Loka Reddy, A. Manogna, and M. Madhavi are the company promoters.
| Share Holding Pre Issue | 62.24% |
| Share Holding Post Issue | 50.25% |
Incorporated in 1999, MTAR Technologies is a leading national player in the precision engineering industry. The company is primarily engaged in the manufacturing of mission-critical precision components with close tolerance and in critical assemblies through its precision machining, assembly, specialized fabrication, testing, and quality control processes.
Since its inception, MTAR Technologies has significantly expanded its product portfolio including critical assemblies i.e. Liquid propulsion engines to GSLV Mark III, Base Shroud Assembly & Airframes for Agni Programs, Actuators for LCA, power units for fuel cells, Fuel machining head, Bridge & Column, Drive Mechanisms, Thimble Package, etc. A wide range of complex product portfolios meets the varied requirements of the Indian nuclear, Defence, and Space sector. ISRO, NPCIL, DRDO, Bloom Energy, Rafael, Elbit, etc. are some of the esteem clients.
Currently, the firm has 7 state-of-the-art manufacturing facilities in Hyderabad, Telangana that undertake precision machining, assembly, specialized fabrication, brazing and heat treatment, testing and quality control, and other specialized processes.
Competitive strengths
| Particulars | For the year/period ended (₹ in million) | ||||
|---|---|---|---|---|---|
| 31-Dec-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 3,819.14 | 3,462.71 | 3,051.58 | 2,810.32 | |
| Total Revenue | 1,779.91 | 2,181.42 | 1,859.10 | 1,605.45 | |
| Profit After Tax | 280.69 | 313.18 | 391.99 | 54.23 | |
[Dilip Davda] On the prima facie, the issue is aggressively priced, but considering its last two fiscals earnings, orders on hands worth Rs. 336.2 cr. and its plan for more critical and high margin products with its niche play for space, security and defence segment, investors may consider parking their fund with a long term perspective. As a niche player with a virtual monopoly, the counter will gain fancy post listing, being the first mover in the segment. Read detail review...
The MTAR Technologies IPO is subscribed 200.79 times on March 5, 2021 5:00:00 AM. The public issue subscribed 28.40 times in the retail category, 164.99 times in the QIB category, and 650.79 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 164.99 |
| NII | 650.79 |
| Retail | 28.40 |
| Total | 200.79 |
| Listing Date | March 15, 2021 |
| BSE Script Code | 543270 |
| NSE Symbol | MTARTECH |
| ISIN | INE864I01014 |
| Final Issue Price | ₹575 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹575.00 |
| ₹1,063.90 |
| ₹1,035.70 |
| ₹1,154.00 |
| ₹1,082.25 |
| NSE |
|---|
| ₹575.00 |
| ₹1,050.00 |
| ₹1,040.00 |
| ₹1,154.90 |
| ₹1,082.50 |
MTAR Technologies Limited
18, Technocrats Industrial Estate
Balanagar, Hyderabad 500 037
Phone: +91 40 4455 3333
Email: shubham.bagadia@mtar.in
Website: https://mtar.in/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: mtar.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
MTAR Technologies IPO is a main-board IPO of 10,372,419 equity shares of the face value of ₹10 aggregating up to ₹596.41 Crores. The issue is priced at ₹574 to ₹575 per share. The minimum order quantity is 26 Shares.
The IPO opens on March 3, 2021, and closes on March 5, 2021.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in MTAR Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in MTAR Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in MTAR Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The MTAR Technologies IPO opens on March 3, 2021 and closes on March 5, 2021.
MTAR Technologies IPO lot size is 26 Shares, and the minimum amount required is ₹14,950.
You can apply in MTAR Technologies IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for MTAR Technologies IPO will be done on Wednesday, March 10, 2021, and the allotted shares will be credited to your demat account by Monday, March 15, 2021. Check the MTAR Technologies IPO allotment status.
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