MTAR Tech raises $24m from 15 anchor investors ahead of Indian IPO
IPO
March 3, 2021
Hyderabad-based MTAR Technologies raised ₹179 crore from 15 anchor investors a day prior to its issue opening for public bidding. The company informed the bourses that it has allocated 3.11 million shares at Rs. 575 per share on 2 March, to the anchor investors.
The issue will open on Wednesday and closed on 5 March. The company plans to raise ₹597 crore via IPO. It has fixed a price band of ₹574-575 per share.
Nomura Funds Ireland, Jupiter South Asia Investment, White Oak Capital and Goldman Sachs India, four foreign investors who invested in the anchor, allotted 0.17 million shares each for approximately ₹10 crore.
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.
Shares of RailTel Corporation of India surged for the third straight day on Tuesday to hit a fresh 52-week high on the BSE amid strong investor interest on the counter. The shares of the firm which got listed on Friday, have zoomed nearly 85 per cent over its issue price of Rs 94.
The scrip jumped 19 per cent over its previous close to hit an intra-day high, also its 52-week high, of Rs 173.50 on the BSE. At 11.40 am, the stock was trading 16 per cent up at Rs 168.60 while the BSE barometer Sensex was up 0.41 per cent at 50,054 around the same time.
The trading volume on the counter was high with a combined 34 million shares having changed hands on the NSE and BSE so far.
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