MTAR Technologies IPO Over Subscribed on first day

Mtar Tecno IPO issue

Hyderabad based Manufacturing Engineering solution provider MTAR Technologies Initial public offer is over subscribed 3.0 times on first day itself. This IPO has floated to raise funds of 596.41 crore with a face value of 10/- each share and offer price is at premium of 574-575 Rupees.

MTAR IPO issue open from today and ends on March 5, 2021 with a objective of issueing 72 lacs of equity shares with a lot size of 26 shares. Around 36 lacs shares are available for Retail investors whereas remaining reserved for QIB and NII investors.

Allotment of MTAR IPO shares will be on March 10, 2021 and listing in BSE and NSE on March 16 2021.

MTAR company has the machining, assembly, specialized fabrication, painting and special processes facilities available in India. MTAR clients are ISRO, NPCIL, DRDO, Bloom Energy, Rafael, Elbit, among others

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