 "MTAR Technologies IPO subscribed nearly 10 times on penultimate day")
Hyderabad-based precision engineering firm MTAR Technologies had recorded nearly 10x subscription to its IPO, as on the penultimate day.
The 7.3-million-share offering has seen bids for close to 69 million shares. Most of the bids so far have come from retail investors.
MTAR’s Rs 596-crore listing comprises a fresh fundraise of Rs 123 crore, and secondary share sale worth Rs 473 crore.
At the upper end of the IPO price band of Rs 574-575 a share, MTAR will have a market cap of Rs 1,770 crore on a post-issue basis.
The 7.3-million-share offering has seen bids for close to 69 million shares. Most of the bids so far have come from retail investors.
MTAR’s Rs 596-crore listing comprises a fresh fundraise of Rs 123 crore, and secondary share sale worth Rs 473 crore.
Also Read
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%