MTAR Technologies IPO Details: Open Date, Price, GMP, Allotment

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MTAR Technologies IPO: MTAR Technologies Limited is coming out with a fresh public issue to raise ₹ 596.41 crores from the market.

MTAR Technologies IPO Details:
MTAR Technologies IPO Details:

Here are some more details regarding the issue:

  • Issue opens – Mar 3 (Wednesday)
  • Issue closes – Mar 5 (Friday)
  • Issue size – ₹ 596.41 crores
  • Price band – ₹ 574 – 575 per equity share
  • Bid lot – 26 shares and in multiples thereof
Company Details:MTAR Technologies Limited is a leading precision engineering solutions company engaged in the manufacture of mission-critical precision components with close tolerances (5-10 microns), and in critical assemblies, to serve projects of high national importance, through its precision machining, assembly, testing, quality control, and specialized fabrication competencies, some of which have been indigenously developed and manufactured (Source: company-commissioned CRISIL Report).

The company primarily serves customers in the clean energy, nuclear and space and defence sectors. The company contributes to the Indian civilian nuclear power programme, Indian space programme, Indian defence and aerospace sector, as well as to the global clean energy sector and the global defence and aerospace sector.

The company focuses on clean energy as one of its key customer sectors and is accordingly involved in the manufacture of power units, specifically hot boxes, and in the development and manufacture of hydrogen boxes and electrolyzers, to serve Bloom Energy Inc., United States, with which the company has been associated for over nine years.

The company has been serving customers in the nuclear sector for over 35 years and has established relationships with the Nuclear Power Corporation of India Limited (NPCIL), having served them for over 16 years.

The company has been a key supplier of mission-critical assemblies and components to customers within the space and defence sectors for their programs of national importance. Through its long-standing relationships of over three decades and four decades with customers such as the Indian Space Research Organisation (ISRO) and the Defence Research and Development Organisation (DRDO), the company has been able to supply specialized products to the Indian space programme and the Indian missile programme, respectively.

The company is the recipient of various awards such as the Best Quality Supplier Award, Defence Technology Absorption Award, INS Industrial Excellence Award and the Award for Excellence in Aerospace Indigenization.
Issue Size:₹ 596.41 crores
Issue Break-up:QIB – 50% of the offer – ₹ 298.21 crores
NIB – 15% of the offer – ₹ 89.46 crores
RET – 35% of the offer – ₹ 208.74 crores
Listing:NSE and BSE
Registrar:KFin Technologies Private Limited
UPI:All retail applications through brokers are compulsorily in UPI mode

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