The Listing and allotment date for MTAR Technology IPO.

IPO Updates 15 May 2021 1:40:PM

MTAR-Technologies-IPO-Allotment-and-Listing-Dates MTAR-Technologies-IPO-Allotment-and-Listing-Dates

The IPO of MTAR technologies consists of fresh issuance of up to 21,48,149 equity shares worth up to Rs 123.52 crore and a selling shareholder offer to sell up to 82,24,270 equity shares worth up to Rs 473 crore. For the initial share-sale, the price band was set at Rs 574-575 per equity share.

On Wednesday, MTAR Technologies IPO is expected to finalize the basis of share allotment for its recently completed IPO. The premium for the IPO, which received a massive 201 times bids last week, has risen to Rs 530 per share in the grey market from Rs 430 a few days ago. This comes after the issue earned 651 times the HNI quota subscription, 165 times eligible institutional buyer (QIB) bids, and 28 times demand from retail investors.

The portion reserved for retail investors was subscribed 28.4 times, the portion reserved for eligible institutional buyers was subscribed 165 times, and the portion reserved for non-institutional buyers was subscribed 650.79 times.

The Hyderabad-based precision engineering firm produces vital and differentiated engineered products for nuclear, space and defense, and renewable energy, and operates seven manufacturing facilities in the city, one of which is geared toward export. MTAR has gained strong experience in the renewable energy sector over the years, according to analysts, and the emerging opportunities from this segment are expected to benefit the company greatly. They believe that, considering the company's poor asset turnover ratio and longer working capital period, earnings growth of 25-30% cannot be ruled out in the coming years, which could help premium valuations. 

Finally, the company is constructing a new manufacturing facility in Adibatla, Hyderabad, that will enable it to take on sheet metal jobs for Bloom Energy, Isro, and other customers. 

FAQs for MTAR Technologies IPO:- 

What is the Allotment Listing date of MTAR Technologies IPO:- 

MTAR Technologies' shares are currently trading at a premium of Rs 450 per share on the grey market. In comparison to the issue price of Rs 575 per share, this suggests a listing price of Rs 1,025 per share. MTAR Technologies' share allotment is expected to be completed on March 10, with the company's initial public offering (IPO) scheduled for March 16.

If you want to apply for the upcoming IPOs in 2021 then please visit our IPO portal. and If you are looking for the DEMAT account then visit here. 

Source:- Economictimes 

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