Bookbuilding IPO | ₹596 Cr | Listed at BSE, NSE | Wed, Mar 3, 2021 - Fri, Mar 5, 2021
MTAR Technologies IPO is a book build issue of ₹596.41 crores. The issue is a combination of fresh issue of 0.21 crore shares aggregating to ₹123.52 crores and offer for sale of 0.82 crore shares aggregating to ₹472.90 crores.
MTAR Technologies IPO bidding started from Mar 3, 2021 and ended on Mar 5, 2021. The allotment for MTAR Technologies IPO was finalized on Mar 10, 2021. The shares got listed on BSE, NSE on Mar 15, 2021.
MTAR Technologies IPO price band is set at ₹575 per share. The lot size for an application is 26. The minimum amount of investment required by an retail is ₹14,950 (26 shares) (based on upper price). The lot size investment for sNII is 14 lots (364 shares), amounting to ₹2,09,300, and for bNII, it is 67 lots (1,742 shares), amounting to ₹10,01,650.
IIFL Capital Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to MTAR Technologies IPO RHP for detailed Information.
IPO Open
Wed, Mar 3, 2021
IPO Close
Fri, Mar 5, 2021
Issue Price
₹575 per share
Market Cap (Pre-IPO)
₹1,768.68 Cr
| IPO Date | 3 to 5 Mar, 2021 |
| Listed on | Mon, Mar 15, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹574 to ₹575 |
| Issue Price | ₹575 per share |
| Lot Size | 26 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,03,72,419 shares (agg. up to ₹596 Cr) |
| Fresh Issue | 21,48,149 shares (agg. up to ₹124 Cr) |
| Offer for Sale | 82,24,270 shares of ₹10 (agg. up to ₹473 Cr) |
| Share Holding Pre Issue | 2,86,11,442 shares |
| Share Holding Post Issue | 3,07,59,591 shares |
| BSE Script Code / NSE Symbol | 543270 / MTARTECH |
| ISIN | INE864I01014 |
MTAR Technologies IPO comprises a total issue size of 1,03,72,419 shares. Out of which, 51,86,209 (50.00%) are allocated to QIB, 15,55,863 (15.00%) allocated to NII 36,30,347 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 51,86,209 | 50.00% | NA |
| − Anchor Investor Shares Offered | 31,11,725 | 30.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 20,74,484 | 20.00% | NA |
| NII (HNI) Shares Offered | 15,55,863 | 15.00% | NA |
| Retail Shares Offered | 36,30,347 | 35.00% | 1,39,628 |
| Total Shares Offered | 1,03,72,419 | 100.00% |
Investors can bid for a minimum of 26 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 26 | ₹14,950 |
| Retail (Max) | 13 | 338 | ₹1,94,350 |
| S-HNI (Min) | 14 | 364 | ₹2,09,300 |
| S-HNI (Max) | 66 | 1,716 | ₹9,86,700 |
| B-HNI (Min) | 67 | 1,742 | ₹10,01,650 |
MTAR Technologies IPO raises ₹178.92 crore from anchor investors. MTAR Technologies IPO Anchor bid date is March 2, 2021.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Mar 2, 2021 |
| Shares Offered | 31,11,725 |
| Anchor Portion (₹ Cr.) | 178.92 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Apr 9, 2021 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Jun 8, 2021 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment or prepayment in full or part of borrowings availed by our Company | 63.00 |
| 2 | Funding working capital requirements | 95.00 |
| 3 | General corporate purposes | 54.92 |
The MTAR Technologies IPO is subscribed 200.79 times on March 5, 2021 5:00:00 AM (Day 3). The public issue subscribed 28.4 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 164.99 | 20,74,484 | 34,22,73,022 |
| NII | 650.79 | 15,55,863 | 1,01,25,36,018 |
| Retail | 28.4 | 36,30,347 | 10,30,94,082 |
| Total | 200.79 | 72,60,694 | 1,45,79,03,122 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs and commissions (including underwriting commission, brokerage and selling commission) | 16.88 |
| 2 | Selling commission amd uploding charges payable to SCSBs and processing fees payable to SCSBs procured by the syndicate members, Registered Brokers, CRTAs or CDPs and submitted to SCSBs for blocking, Bankers, fees payable to the Sponsor Bank for Bids by RIBs, Processing fees payable to the Sponsor Bank | 6.83 |
| 3 | Fees payable to Registrar to the Offer | 0.02 |
| 4 | Printing and stationery expenses | 2.33 |
| 5 | Advertising and marketing expenses | 2.07 |
| 6 | Listing fees, SEBI fees, BSE and NSE processing fees, Book-building software fees, Other regulatory expenses, Fees payable to legal counsel; and Miscellaneous | 7.70 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹575.00 | ₹575.00 |
| Open | ₹1,063.90 | ₹1,050.00 |
| Low | ₹1,035.70 | ₹1,040.00 |
| High | ₹1,154.00 | ₹1,154.90 |
| Last Trade | ₹1,082.25 | ₹1,082.50 |
Lead Manager Reports
MTAR Technologies IPO is a main-board IPO of 1,03,72,419 equity shares of the face value of ₹10 aggregating up to ₹596 Crores. The issue is priced at ₹575 per share. The minimum order quantity is 26.
The IPO opens on Wed, Mar 3, 2021, and closes on Fri, Mar 5, 2021.
Kfin Technologies Ltd. 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 Wed, Mar 3, 2021 and closes on Fri, Mar 5, 2021.
MTAR Technologies IPO lot size is 26, and the minimum amount required for application is ₹14,950.
You can apply in MTAR Technologies IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Mon, Mar 15, 2021. Check the MTAR Technologies IPO allotment status.
The MTAR Technologies IPO listing date is on Mon, Mar 15, 2021.
