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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 ₹575.00 per share . The lot size for an application is 26. The minimum amount of investment required by an retail is ₹14,924 (26 shares). 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 Date | March 3, 2021 to March 5, 2021 |
| Listing Date | March 15, 2021 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹574 to ₹575 per share |
| Issue Price Final | ₹575 per share |
| Lot Size | 26 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,03,72,419 shares (aggregating up to ₹596.41 Cr) |
| Fresh Issue | 21,48,149 shares (aggregating up to ₹123.52 Cr) |
| Offer for Sale | 82,24,270 shares of ₹10 (aggregating up to ₹472.90 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,86,11,442 shares |
| Share Holding Post Issue | 3,07,59,591 shares |
MTAR Technologies IPO offers total 1,03,72,419 shares. Out of which 51,86,209 (50.00%) allocated to QIB, 20,74,484 (20.00%) allocated to QIB, 15,55,863 (15.00%) allocated to NII, 36,30,347 (35.00%) allocated to RII and 31,11,725 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum 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%) |
MTAR Technologies IPO opens on March 3, 2021, and closes on March 5, 2021.
| IPO Open Date | Wed, Mar 3, 2021 |
| IPO Close Date | Fri, Mar 5, 2021 |
| Tentative Allotment | Wed, Mar 10, 2021 |
| Initiation of Refunds | Fri, Mar 12, 2021 |
| Credit of Shares to Demat | Mon, Mar 15, 2021 |
| Tentative Listing Date | Mon, Mar 15, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Mar 5, 2021 |
Investors can bid for a minimum of 26 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | |
The Company MTAR Technologies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 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 |
[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...
| Listing Date | March 15, 2021 |
| BSE Script Code | 543270 |
| NSE Symbol | MTARTECH |
| ISIN | INE864I01014 |
| Final Issue Price | ₹575 per share |
| BSE Listing Group | B |
MTAR Technologies Ltd.
18, Technocrats Industrial Estate
Balanagar, Hyderabad 500 037
Hyderabad, Telangana
Phone: +91 40 4455 3333
Email: shubham.bagadia@mtar.in
Website: https://mtar.in/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: mtar.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
MTAR Technologies IPO is a main-board IPO of 1,03,72,419 equity shares of the face value of ₹10 aggregating up to ₹596.41 Crores. The issue is priced at ₹575 per share. The minimum order quantity is 26.
The IPO opens on March 3, 2021, and closes on March 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 March 3, 2021 and closes on March 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 Monday, March 15, 2021. Check the MTAR Technologies IPO allotment status.
The MTAR Technologies IPO listing date is on Monday, March 15, 2021.
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