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MTAR Technologies IPO Is Fully Subscribed Within Hours Of Opening

MTAR Technologies IPO Subscription Live Updates: MTAR Technologies IPO gets fully subscribed within hours Of Opening. MTAR Tech. shares were in huge demand among investors as total bids received of 91 lakh shares as against 72.60 lakh shares on the offer.

MTAR Technologies initial public offering (IPO) was over-subscribed within hours of opening on the stock exchanges, As per the NSE data. Nearly 70 lakh bids were received for the MTAR Technologies IPO at the cut-off price of ₹ 575. MTAR Tech. IPO was subscribed 1.25 times as of 12:30 pm, NSE data showed.

MTAR Technologies IPO Is Fully Subscribed Within Hours Of Opening As Per NSE Data

Retail investors eagerly for bidding in huge quantities for the MTAR Technologies shares in the IPO as the portion reserved for retail investors was already subscribed 1.75 times, while portion for qualified institutional buyers was yet to be subscribed.

In Addition of MTAR Technologies, the company had raised ₹ 179 crore from 15 anchor investors which included marquee foreign investors like Nomura Funds, Ireland Public Limited Company, Jupiter South Asia Investment Company, White Oak Capital and Goldman Sachs.

SBI Mutual Fund and Axis Mutual Fund had also invested ₹ 70 crore and ₹ 30 crore respectively in a pre-IPO round concluded last month

MTAR Technologies IPO Details

IPO Opening DateMar 3, 2021
IPO Closing DateMar 5, 2021
Face Value₹10 per equity share
IPO Price₹574 to ₹575 per equity share
Minimum Order Quantity26 Shares
Listing AtBSE, NSE

MTAR Technologies IPO Listing Date (Tentative Time Table)

IPO Opening DateMar 3, 2021
IPO Closing DateMar 5, 2021
Basis of Allotment DateMar 10, 2021
Initiation of RefundsMar 12, 2021
Credit of Shares to Demat AccountMar 15, 2021
IPO Listing Date16th March 2021

MTAR Technologies IPO Review By Anil Singhvi

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