MTAR Technologies manufactures equipment for defence, aerospace and nuclear energy sector
MTAR Technologies, a precision engineering solutions company, will launch an initial public offering (IPO) on March 3. The IPO will be open for subscription for three days until March 5. The shares are likely to be listed on the BSE and NSE.
The initial public offering will comprise a fresh issue of 21,48,149 equity shares and an offer for sale of 82,24,270 equity shares by promoters and investors.
The company will utilise net proceeds from its fresh issue and pre-IPO placement to repay debt and for working capital requirements.
JM Financial and IIFL Securities are the book running lead managers to the public issue.
The Hyderabad-based MTAR Technologies manufactures equipment for the defence, aerospace and nuclear energy sectors.
The MTAR Technologies IPO will be the ninth public offer since the beginning of this year, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft, Brookfield India REIT, Nureca, RailTel Corporation of India and Heranba Industries.
