MTAR Technologies IPO: Last chance to invest money today, subscribed 10.27 times on second day

 

HIGHLIGHTS: MTAR Technologies has been serving in the field of Defense, Aerospace and Energy sector since last 4 decades. The client list includes names like ISRO, NPCIL, DRDO, Bloom Energy, Rafael.

Today is the last opportunity to invest in MTAR Technologies IPO. The IPO, which opened on March 3, will close on March 5 today. MTAR Technologies' IPO worth Rs 597 crore got 10.27 times subscription on second day on Thursday. The IPO received 3.68 times the subscription on the first day. It is getting huge support from retail investors. According to the stock market information, the company has received bids for 7.45 crore shares so far against the offer of 72.6 shares. This is 10.27 times the offer.

179 crores raised from anchor investors on Tuesday

The bids received for retail investors are 16.55 times in the reserved portion and 8.04 times in the non-institutional category. At the same time, applications for 96 percent shares have also been received in the eligible institutional buyers segment. Engineering diagnostics company MTAR Technologies on Tuesday raised Rs 179 crore from anchor investors.

Price band and face value

The price band for the IPO of MTAR Technology is priced at Rs 574-575 and the face value is Rs 10 per equity share. The IPO's lot size is 26 shares, that is, it is necessary to invest at least Rs 14950. Retail investors can bid for a maximum of 13 lots.

Quota for Retail Investors

The quota for retail investors in the IPO is fixed at 35 per cent of the net offer. The QIB quota is fixed at 50 per cent and the NII quota at 15 per cent. There is a fresh issue of 123.52 crore under the IPO and an offer for sale of Rs 472.90 crore.

Source: Web