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NEW DELHI: The MTAR Technologies IPO, which received a solid 200 times subscription in its just concluded IPO, is set to deliver a whopping 1,400 per cent, or 15 times, gains to former Blackstone Senior MD, Mathew Cyriac, who through his entities Fabmohur Advisors and Solidus Advisors had bought one-third of the company in 2017. If one were to go by prevailing premium that the grey market is offering on the unlisted shares today, Cyriac s remaining post-IPO shares in the company would be enjoying a 2,744 per cent return on listing! Fabmohur Advisors LLP along with Solidus Advisors held 88,60,570 shares prior to the IPO, which were 33.11 per cent of the total MTAR shares. The shares were bought at an average cost of Rs 38.44 per share, as per the red herring prospectus. The IPO had an OFS of 5,874,300 shares by Fabmohur Advisors. These shares were sold in the price band of Rs 574-575, suggesting 15 times gains, or 1,396 per cent return.

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