Tag: issueprice

MTAR Technologies made a solid market debut on Monday, as the scrip got rose to Rs 1,150 on BSE. It opened at Rs 1,050, an 83 per cent premium over the issue price of Rs.575.The ₹597-crore initial public offering (IPO) of MTAR Technologies, which was open between March 3 and March 5, was subscribed more than 200 times. The price band was fixed at ₹574- 575 per equity share. The IPO received bids for 145.79 crore equity shares against an offer size of 72.6 lakh equity stocks, translating into a subscription of 200.79 times.MTAR Technologies has announced that the proceeds from the fresh issue will be used to repay debt, fund long-term working c MTAR Technologies is engaged in the manufacture of mission-critical precision components with close tolerances, and in critical assemblies. It has seven manufacturing facilities, including an export-oriented unit located in Hyderabad, Telangana, and has been servicing the defence, aerospace and energy sectors for more than four decades. Read more

Shares of Burger King India (BKIL) the Indian subsidiary of the US-based made a strong debut on Monday gaining 131 per cent premium of Rs. 138 against its issue price of Rs 60 on the BSE. Burger King’s initial public offering was massively oversubscribed by investors across categories earlier this month. Overall, the issue was subscribed 156 times, making it the second most subscribed IPO of 2020. Quick service restaurant (QSR) offers good long-term opportunity, suggested by the management’s growth plan and the FY21 performance so far. The company intends to utilise the fresh proceeds to finance the roll-out of new company-owned Burger King Restaurants and to meet the general corporate purposes. The QSR chain owned by QSR Asia continued to report losses in previous financial years but there has been strong growth in revenue and stable gross margin performance. Analysts say investors can book profits of half of the investment amount in short term and hold the rest for the long term.