MTAR Technologies has priced its IPO between Rs 574-575 per share. The IPO will open on March 3 and close on March 5. The IPO comprises a fresh issue of Rs 123 crore and an offer for sale of Rs 472 crore. The company plans to use the fresh issue’s net proceeds to repay its debts and the company’s working capital needs. Investors can bid a lot of 26 shares and multiples of 26 shares thereof.
MTAR is an engineering solutions company engaged in the manufacture of precision components. The company primarily caters to the clean energy, nuclear and space and defence sectors.
According to its red herring prospectus (RHP), the company has developed import substitutes used in the industries it caters. The company offers various components such as liquid propulsion engines and assemblies for cryogenic engines.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Thu, February 25 2021. 17:39 IST