MTAR Tech raises $24m from 15 anchor investors ahead of Indian IPO
IPO
March 3, 2021
Hyderabad-based MTAR Technologies raised ₹179 crore from 15 anchor investors a day prior to its issue opening for public bidding. The company informed the bourses that it has allocated 3.11 million shares at Rs. 575 per share on 2 March, to the anchor investors.
The issue will open on Wednesday and closed on 5 March. The company plans to raise ₹597 crore via IPO. It has fixed a price band of ₹574-575 per share.
Nomura Funds Ireland, Jupiter South Asia Investment, White Oak Capital and Goldman Sachs India, four foreign investors who invested in the anchor, allotted 0.17 million shares each for approximately ₹10 crore.
Here s the breaking down of the pre-market actions:
State of Markets
Nifty futures on the Singapore Exchange traded 14 points, or 0.09 per cent, higher at 14,997 in signs that Dalal Street was headed for a positive start on Wednesday.
Tech View: Nifty hurdle at 20-DMA
Nifty50 on Tuesday climbed over 1 per cent and settled above the 14,900 mark. The index formed a bullish candle on the daily chart, with a long lower wick, suggesting that every intraday selling got bought into. Analysts said the 15,000 level will be a key hurdle for Nifty50 to watch out for.
Asian shares mixed in early trade
Asian shares were trading mostly mixed on Wednesday. Japan s Nikkei fell 0.18 per cent to 29,355.64.China s Shanghai Composite rose 0.42 per cent to 3,523.20. Hong Kong s Hang Seng climbed 1.13 per cent to 29,425. Korea s Kospi edged 0.3 per cent lower.
On Tuesday, MTAR Technologies raised Rs 178.92 crore from 15 anchor investors at Rs. 575 per share including Nomura Funds Ireland, Jupiter South Asia Investment, White Oak Capital and Goldman Sachs India.