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NEW DELHI: A rush of IPOs from businesses good and not so good, and aggressive pricing of such issues are considered important signs of an ageing bull market. Dalal Street has currently been seeing strong subscriptions to all kinds of IPOs, many of which have been deemed aggressively priced. Worse, most of the IPOs with lofty valuations are also commanding strong premia in debut trade. This, some market watchers say, suggests a bubble is building up in the IPO mart. “It’s a no-brainer! Investors are chasing listing gains and are unfazed by valuations. That calls for caution,” say analysts. ....
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. ....
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. ....
NEW DELHI: MTAR Technologies, a precision engineering company, is set to hit Dalal Street with its IPO on Wednesday. The company manufactures critical and differentiated engineered products in the nuclear, space and defence, and clean energy segments, and owns seven manufacturing facilities in Hyderabad, including an export-oriented unit. MTAR, whose client list includes ISRO, DRDO, Rafael, NPCIL and Bloom Energy, is looking to sell 1.037 crore shares, a mix of fresh issue and an offer for sale, in the price band of Rs 574-575. In this price band, the issue would be available at a P/E of 47.3 times FY21 EPS of Rs 12.20 on an annualised basis. ....