MTAR Technologies manufactures gear for aerospace, defence and nuclear power sectors
MTAR Technologies made a blockbuster debut on the bourses this morning. The shares listed at listed at Rs 1,063.90 on BSE, a 85.03 per cent premium over its concern value of Rs 575. On the NSE, the inventory debuted at Rs 1,050, a premium of 82.6 per cent.
MTAR Technologies’ preliminary public providing (IPO) had acquired an awesome response from the traders. The IPO was subscribed 200.79 occasions, receiving complete bids for 145.79 crore shares as towards 72.60 lakh shares on provide.
Ahead of the MTAR Technologies IPO the corporate had raised Rs 179 crore from 15 anchor traders which included marquee overseas traders akin to Nomura Funds, Ireland Public Limited Company, Jupiter South Asia Investment Company, White Oak Capital and Goldman Sachs.
The firm will use the IPO proceeds for repayments of borrowings, funding working capital necessities and for basic company functions.
MTAR Technologies was integrated in Hyderabad within the yr 1999. It manufactures gear for the aerospace, defence and nuclear power sectors and is a number one participant within the precision engineering business.
