MTAR Tech files IPO papers to raise Rs 600-650 cr
New Delhi, Dec 19: MTAR Technologies, a precision engineering solutions company, has filed preliminary papers with capital markets regulator Sebi to raise an estimated Rs 600-650 crore through an initial share-sale.
The IPO comprises fresh issuance of up to 40 lakh shares and an offer for sale of up to 82,24,270 shares from promoter and other existing shareholders, according to draft herring prospectus.
Proceeds from the fresh issue will be used to repay debt, fund long-term working capital requirements besides attending to general corporate purpose.
According to market sources, the IPO is estimated to fetch Rs 600-650 crore.
MTAR Technologies files draft prospectus for IPO, aims to raise Rs 600-650 crore
MTAR is a key partner to Indian Space Research Organization, Defense Research and Development Organization, Nuclear Power Corporation of India and US-based Bloom Energy Inc. December 19, 2020 / 01:17 PM IST
Hyderabad-based precision engineering solutions company MTAR Technologies has filed draft red herring prospectus with the capital market regulator Sebi for its initial public offering.
The IPO consists of a fresh issuance of 40 lakh shares and an offer for sale of 82,24,270 equity shares by promoter and existing shareholders.
MTAR is likely to raise approximately Rs 600-650 crore through its IPO, according to market sources.
Godrej Aerospace partnered ISRO for satellite
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Godrej Aerospace, a part of Godrej & Boyce Mfg Co. Ltd., the flagship company of the Godrej Group on Friday announced that it had partnered with the Indian Space Research Organization (ISRO) for the successful launch of the CMS-01 communications satellite using the PSLV-C50.
The 52nd mission of PSLV on Friday launched CMS-01 from Satish Dhawan Space Centre (SDSC) SHAR, Sriharikota.
CMS-01 is the 42 Communication Satellite of India and replaces the GSAT 12R which was launched in 2011.
The CMS-01 is a communication satellite designed for providing services in the Extended-C Band of the frequency spectrum. The Extended-C Band coverage will include Indian mainland, Andaman-Nicobar & Lakshadweep Islands.
Discovery Kids is all set to end the year on an exciting note, with the launch of new movies and episodes of popular shows Little Singham and Fukrey Boyzzz. Kids across the country will get to hang out with their favourite characters - superhero cop Little Singham and the naughty bunch Choocha, Laali, Hunny and Bholi - as they go on some cool new adventures this December. ........... Read More.
With over 530 million people connected to the world wide web and counting, India has the second-largest internet user base in the world today. Out of these, around 71 per cent come from lower-tier cities, according to a Statista report.............. Read More.
Today is historic day for South Asia, a day without precedence, says PM Modi on South Asian satellite launch | Top quotes
Today is historic day for South Asia, a day without precedence, says PM Modi on South Asian satellite launch | Top quotes
Prime Minister Narendra Modi On Friday Described The Launch Of The South Asian Satellite By India As A âhistoric Moment And Said It Opens Up New Horizons Of Engagement Among The Countries Of The Region.
News Nation Bureau | Edited By : Ashish Ranjan | Updated on: 05 May 2017, 06:54:38 PM
New Delhi:
Prime Minister Narendra Modi on Friday described the launch of the South Asian Satellite by India as a “historic moment” and said it opens up new horizons of engagement among the countries of the region.