MTAR Tech raises 179 Cr from 15 Anchor Investors
Posted On: 2021-03-02 08:02:18 (Time Zone: Arizona, USA)
MTAR Technologies Limited ( MTAR ), a Hyderabad based precision engineering solutions company engaged in the manufacturing and development of mission critical precision components and critical assemblies catering to clean energy, nuclear and space and defense sectors, has raised Rs. 178.92 crore from 15 anchor investors a day prior to its Issue Opening. The company informed the bourses that it has allocated 3,111,725 shares at Rs. 575 per share on March 2, to the anchor investors.
Four Foreign Portfolio Investors who participated in the anchor were Nomura Funds Ireland, Jupiter South Asia Investment, White Oak Capital and Goldman Sachs India. Each of these investors were allocated 173,914 shares for approximately Rs 10 crs.
To comply with the new definition, existing multicap schemed would have had to undergo large-scale churn. “Renaming the fund as Kotak Flexicap Fund, gives an additional flexibility for us to choose between various market capitalisation buckets,” said Harsha Upadhyaya, President & CIO – Equity, Kotak MF Mahindra Asset Management Company, who also manages the fund. The fund house said the scheme “will continue to follow the top-down sectoral approach supplemented by bottom-up stock picks. The fund will also continue to take concentrated sector allocation diversified at a stock level.” Kotak MF has also filed the offer document with Sebi to launch a new multicap scheme.