NEW DELHI: MTAR Technologies is likely to finalise the basis of share allotment for its recently concluded IPO on Wednesday. The initial public offer (IPO), which attracted a massive 201 times bids last week, has seen its premium surge to Rs 530 apiece in the grey market from Rs 430 a few days ago.
This is after the issue received 651 times subscription to its HNI quota, 165 times bids from qualified institutional buyers (QIB category) and 28 times demand from retail investors.
The Hyderabad-based precision engineering company manufactures critical and differentiated engineered products for nuclear, space and defence and clean energy and owns seven manufacturing facilities in Hyderabad, including an export-oriented unit.
Hyderabad company MTAR Tech’s IPO subscribed 201 times
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Hyderabad company MTAR Tech’s IPO subscribed 201 times
TNN / Updated: Mar 6, 2021, 05:21 IST
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MUMBAI: The Rs 600-crore IPO for MTAR Technologies, a Hyderabad-based precision engineering solutions company, which closed on Friday, was subscribed 201 times, making it the fifth most subscribed offer since 2000. The company collected in the IPO about Rs 84,000 crore against shares worth Rs 417 crore that was on offer during the bidding process, official data showed.
The institutional part in the IPO was subscribed almost 165 times. Non-institutional investors’ portion, also called high net worth individuals, was subscribed over 650 times and the retail portion over 28 times. This was the highest ever subscription to an IPO of size of over Rs 200 crore and one of the highest ever in the manufacturing sector, merchant bankers said.