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The MTAR Tech IPO is open for subscription between March 3 and 5. the IPO price band is Rs 574-575 and the market lot is 26 shares.

March 15: Listing Day

  • The shares of MTAR Technologies listed at Rs Rs 1,050 per share on the National Stock Exchange (NSE). This is an 82.6% premium over its issue price of Rs 575 per share.
  • On the BSE, the shares listed at Rs 1,082.25 per share, an 88.2% premium over its issue price.
  • The share price ended 88.26% higher at Rs 1,082.5 per share.

Day 3: March 5

As of 6.00 p.m.

The MTAR IPO issue has been subscribed 200.79 times so far on day 3.
The IPO received bids for 145.79 crore shares against the offered size of 72.60 lakh shares.

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Subscription Status

  • Retail investors: 28.4 times of the reserved portion
  • Non-institutional investors: 650.79 times of the reserved portion
  • Qualified institutional buyers: 164.99 times of the reserved portion

As of 3.00 p.m.

The MTAR IPO issue has been subscribed 145.45 times so far on day 3.

Subscription Status

  • Retail investors: 26.64 times of the reserved portion
  • Non-institutional investors: 468.53 times of the reserved portion
  • Qualified institutional buyers: 125.04 times of the reserved portion

Day 2: March 4

As of 6.00 p.m.

The MTAR IPO issue has been subscribed 10.26 times so far on day 2.
The IPO received bids for 7.45 crore shares against the offered size of 72.60 lakh shares.

Subscription Status

  • Retail investors: 16.54 times of the reserved portion
  • Non-institutional investors: 8.04 times of the reserved portion
  • Qualified institutional buyers: 96% of the reserved portion

As of 1.10 p.m.

The MTAR IPO issue has been subscribed 6.36 times so far on day 2.
The IPO received bids for 4.61 crore shares against the offered size of 72.60 lakh shares.

Subscription Status

  • Retail investors: 11.73 times of the reserved portion
  • Non-institutional investors: 2.31 times of the reserved portion
  • Qualified institutional buyers: Have not bid yet

Day 1: March 3

As of 6.00 p.m.

The MTAR IPO issue has been subscribed 3.68 times so far on day 1.
The IPO received bids for 2.67 crore shares against the offered size of 72.60 lakh shares.

Subscription Status

  • Retail investors: 6.93 times of the reserved portion
  • Non-institutional investors: 1.02 times of the reserved portion
  • Qualified institutional buyers: Have not bid yet

As of 3.43 p.m.

The MTAR IPO issue has been subscribed 2.99 times so far on day 1.
The IPO received bids for 2.17 crore shares against the offered size of 72.60 lakh shares.

Subscription Status

  • Retail investors: 5.66 times of the reserved portion
  • Non-institutional investors: 76% of the reserved portion
  • Qualified institutional buyers: Have not bid yet

As of 12.45 p.m.

MTAR IPO fully subscribed so far on day 1.

The IPO was subscribed almost 70% within an hour of the IPO going live for subscriptions.

March 2: Funds Raised from Anchor Investors

The IPO raised around Rs 180 crores from 15 anchor investors. The company has allocated 31.11 lakh shares at Rs 575 per share. The IPO’s anchor book received bids from 35 anchor investors worth Rs 3,500 crores as against a book size of Rs 180 crores.

The IPO witnessed participation from the following anchor investors:

  • White Oak Capital
  • Jupiter South Asia Investment
  • Nomura Funds Ireland
  • Goldman Sachs Asset Management

Domestic Mutual Funds:

  • SBI Mutual Fund
  • Axis Mutual Fund
  • ICICI Mutual Fund
  • HDFC Mutual Fund
  • Aditya Birla Sunlife Mutual Fund
  • Kotak Mahindra Mutual Fund
  • Nippon India Mutual Fund
  • Franklin Templeton Mutual Fund
  • Sundaram Mutual Fund
  • Invesco Mutual Fund

Axis Mutual Fund and SBI Mutual Fund ended bagging the highest allocations. Both AMCs have picked up 13.67% allocation for Rs 24.5 crores each across various schemes.

MTAR Technologies Ltd. is a precision engineering solutions company that is into manufacturing precision components and catered to projects of national importance.

Read More on Groww: MTAR IPO 

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