MTAR Technologies makes stellar market debut, lists at 85% premium

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Shares of MTAR Technologies made a stellar market debut on March 15. The stock opened for trading at Rs 1,050 on the National Stock Exchange, compared to the issue price of Rs 575, marking a premium of 82.61%. On the BSE, MTAR Technologies opened at Rs 1,063.90, at a premium of 85.03%.

The Rs 597 crore-public issue received bids for 145.79 crore shares as against 72.60 lakh shares on offer, according to the stock exchange data. The issue was subscribed 200.79 times. The portion reserved for retail investors was subscribed 28.4 times, the qualified institutional buyers category was subscribed 165 times and the non-institutional category received 650.79 times subscription.

MTAR Technologies (MTAR) is a leading precision engineering solutions company engaged in the manufacture of mission-critical precision components with close tolerances (5-10 microns), and in critical assemblies, to serve projects of high national importance, through their precision machining, assembly, testing, quality control, and specialized fabrication competencies, some of which have been indigenously developed and manufactured. The company primarily serve customers in the nuclear, space & defence, and clean energy sectors.

The company works with clients like the Indian Space Research Organization, Defence Research and Development Organization, Nuclear Power Corporation of India Ltd and US-based Bloom Energy Corp, besides catering to other well-known establishments like Bharat Dynamics and Hindustan Aeronautics.