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