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MTAR Technologies Limited IPO (MTAR Technologies IPO) Detail

Mar 3, 2021 - Mar 5, 2021

Incorporated in 1999, MTAR Technologies is a leading national player in the precision engineering industry. The company is primarily engaged in the manufacturing of mission-critical precision components with close tolerance and in critical assemblies through its precision machining, assembly, specialized fabrication, testing, and quality control processes.

Since its inception, MTAR Technologies has significantly expanded its product portfolio including critical assemblies i.e. Liquid propulsion engines to GSLV Mark III, Base Shroud Assembly & Airframes for Agni Programs, Actuators for LCA, power units for fuel cells, Fuel machining head, Bridge & Column, Drive Mechanisms, Thimble Package, etc. A wide range of complex product portfolios meets the varied requirements of the Indian nuclear, Defence, and Space sector. ISRO, NPCIL, DRDO, Bloom Energy, Rafael, Elbit, etc. are some of the esteem clients.

Currently, the firm has 7 state-of-the-art manufacturing facilities in Hyderabad, Telangana that undertake precision machining, assembly, specialized fabrication, brazing and heat treatment, testing and quality control, and other specialized processes.

Competitive strengths

  • Wide range of product portfolio.
  • 7 Modern technology manufacturing units.
  • Diversified supplier base.
  • Strong financial track record.
  • Experienced and qualified management.

Company Promoters:

Parvat Srinivas Reddy, P. Leelavathi, K. Shalini, D. Anitha Reddy, C. Usha Reddy, G. Kavitha Reddy, Anushman Reddy, P. Kalpana Reddy, Saranya Loka Reddy, A. Manogna, and M. Madhavi are the company promoters.

Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in million)
31-Dec-20 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 3,819.14 3,462.71 3,051.58 2,810.32
Total Revenue 1,779.91 2,181.42 1,859.10 1,605.45
Profit After Tax 280.69 313.18 391.99 54.23

Objects of the Issue:

  • To partly or fully repay company's borrowings.
  • To finance company's working capital requirements.
  • To meet general corporate purposes.

MTAR Technologies IPO Details

IPO Opening Date Mar 3, 2021
IPO Closing Date Mar 5, 2021
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹574 to ₹575 per equity share
Market Lot 26 Shares
Min Order Quantity 26 Shares
Listing At BSE, NSE
Issue Size10,372,419 Eq Shares of ₹10
(aggregating up to ₹596.41 Cr)
Fresh Issue2,148,149 Eq Shares of ₹10
(aggregating up to ₹123.52 Cr)
Offer for Sale8,224,270 Eq Shares of ₹10
(aggregating up to ₹472.90 Cr)

MTAR Technologies IPO Tentative Timetable

The MTAR Technologies IPO open date is Mar 3, 2021, and the close date is Mar 5, 2021. The issue may list on Mar 15, 2021.

IPO Open Date Mar 3, 2021
IPO Close Date Mar 5, 2021
Basis of Allotment Date Mar 10, 2021
Initiation of Refunds Mar 12, 2021
Credit of Shares to Demat Account Mar 15, 2021
IPO Listing Date Mar 15, 2021

MTAR Technologies IPO Lot Size

The MTAR Technologies IPO market lot size is 26 shares. A retail-individual investor can apply for up to 13 lots (338 shares or ₹194,350).

Application Lots Shares Amount (Cut-off)
Minimum 1 26 ₹14,950
Maximum 13 338 ₹194,350

MTAR Technologies IPO Promoter Holding

Pre Issue Share Holding 62.24%
Post Issue Share Holding 50.25%

MTAR Technologies IPO Review

On the prima facie, the issue is aggressively priced, but considering its last two fiscals earnings, orders on hands worth Rs. 336.2 cr. and its plan for more critical and high margin products with its niche play for space, security and defence segment, investors may consider parking their fund with a long term perspective. As a niche player with a virtual monopoly, the counter will gain fancy post listing, being the first mover in the segment. Read detail review...

MTAR Technologies IPO Subscription Status (Bidding Detail)

The MTAR Technologies IPO is subscribed 200.79 times on Mar 5, 2021 5:00:00 AM. The public issue subscribed 28.40 times in the retail category, 164.99 times in the QIB category, and 650.79 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB164.99
NII650.79
Retail28.40
Total200.79

MTAR Technologies IPO Prospectus

MTAR Technologies IPO Rating

2402
4.2
Rating:Rated 4.2 stars
Vote Here ...

MTAR Technologies IPO Listing Date

Listing Date Monday, March 15, 2021
BSE Script Code 543270
NSE Symbol MTARTECH
Listing In B Group of Securities
ISIN INE864I01014
IPO Price ₹575 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹575.00
₹1,063.90
₹1,035.70
₹1,154.00
₹1,082.25
NSE
₹575.00
₹1,050.00
₹1,040.00
₹1,154.90
₹1,082.50

Company Contact Information

MTAR Technologies Limited
18, Technocrats Industrial Estate
Balanagar, Hyderabad 500 037

Phone: +91 40 4455 3333
Email: shubham.bagadia@mtar.in
Website: https://mtar.in/

MTAR Technologies IPO Registrar

KFintech Private Limited

Phone: 04067162222, 04079611000
Email: mtar.ipo@kfintech.com
Website: https://karisma.kfintech.com/

MTAR Technologies IPO FAQs

MTAR Technologies IPO is a main-board IPO of 10,372,419 equity shares of the face value of ₹10 aggregating up to ₹596.41 Crores. The issue is priced at ₹574 to ₹575 per equity share. The minimum order quantity is 26 Shares.

The IPO opens on Mar 3, 2021, and closes on Mar 5, 2021.

KFintech Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in MTAR Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in MTAR Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in MTAR Technologies IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'MTAR Technologies IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The MTAR Technologies IPO opens on Mar 3, 2021 and closes on Mar 5, 2021.

MTAR Technologies IPO lot size is 26 Shares and the minimum order quantity is 26 Shares.

You can apply in MTAR Technologies IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for MTAR Technologies IPO will be done on Mar 10, 2021, and the allotted shares will be credited to your demat account by Mar 15, 2021. Check the MTAR Technologies IPO allotment status.

The MTAR Technologies IPO listing date is on Monday, March 15, 2021.

MTAR Technologies IPO Message Board

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116 Comments

65. JUSTVIKRANT |   Link |Mar 1, 2021 11:28:15 AM
One of my friend have account in canara bank, demat in groww. Can he apply through gpay for this IPO?
64. Allued Investor |   Link |Mar 1, 2021 10:44:59 AM
Gmp 400 today
🍸🍸
SS 7000
Kostak 450
63. Srujan Chowdary |   Link |Mar 1, 2021 9:21:26 AM
Did any one try IDFC First bank ASBA option while applying any IPO?
63.1. IPO Enthu |   Link |Mar 1, 2021 10:16:19 AM
Yes
I have tried but IDFC Bank upi not matured.
62. Praful JJ |   Link |Mar 1, 2021 9:15:02 AM
hi all GM !!!

please keep updtate GMP & kostak price

MTR & Ease my trip
61. RAJU HYD |   Link |Mar 1, 2021 12:07:09 AM
GMP 400
APPLICATION RATES 450
SUBJECT TO RATES 7000
61.1. sonal patel |   Link |Mar 1, 2021 8:38:48 AM
IPO Guru IPO Guru (1300+ Posts, 5300+ Likes)
Subject to rate is 8000/ 8200
7000 rs not at any place..
60. Mr.Z |   Link |Feb 28, 2021 9:26:41 PM
5diif frnds demats account on zerodha but need to payment with one sbi card is that possible?how?
60.1. Kapil Gro |   Link |Feb 28, 2021 10:47:21 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Kar sakte ho but charges applicable hai

So try upi in zerodha for free addition of funds
59. Jp gandhinagar |   Link |Feb 28, 2021 6:36:18 PM
Do anyone have IDEA ABOUT APPLICATION ALLOW from bank to bank ASBA
(1) SBI - 5 Application
(2) AXIS - 3 Application
(3) Corporation - ?
(4) Bank of INDIA - ?
(5) HDFC BANK - ?

THANKS in Advance
59.5. IPO smart |   Link |Feb 28, 2021 9:16:46 PM
Top Contributor Top Contributor (200+ Posts)
Corporation bank is merged with union bank of India.
Whether third party applications 5 nos allowed in union bank of india?
Expert please comments those are applying 5 nos applications through union bank before merger with corporation bank.
59.6. sunil prajapat |   Link |Feb 28, 2021 10:27:38 PM
You can apply from BOB also same like SBI 5 applications in one go, all five should be different PANs. It''s doesn''t matter who''s saving account are you applying. People who are saying SEBI can rejects blaw blaw, don''t trust them. I am applying since 2014.
58. Sanjeev Kumar Pandey |   Link |Feb 28, 2021 8:22:41 PM
Lena hai
57. R D MEHTA |   Link |Feb 28, 2021 8:01:06 PM
GMP eagleye? Kostak? Subject 2?
Please guide
56. chennai tamizhan |   Link |Feb 28, 2021 1:50:36 PM
Guys can we apply in multiple accounts with same BHIM upi id ?
56.1. ganesh jaiswal |   Link |Feb 28, 2021 2:30:24 PM
IPO Mentor IPO Mentor (800+ Posts, 400+ Likes)
One UPI id can be used for one application having same PAN in Demat and Bank account. Third party application through UPI summarily rejected. Use SBI ASBA
56.2. RohitArorra |   Link |Feb 28, 2021 7:57:55 PM
UPI can only be used for 1 id. You can use 1 Asba to apply with multiple demat accounts.
55. IPO SUSPENSE |   Link |Feb 28, 2021 6:46:59 PM
Ye company hmare pese ko bhi chand tak le jyego

****2
54. IPO smart |   Link |Feb 28, 2021 5:37:26 PM
Top Contributor Top Contributor (200+ Posts)
Pround moment for India:
ISRO successfully Launched of Amazonia-1 and 18 Co-passenger satellites onboard PSLV-C51.,🗼
I will keep in portfolio forever.
53. shyamsunder |   Link |Feb 26, 2021 1:13:09 PM
what is full form of MTAR, I mean there has to be some logic behind such small MTAR???? any one ???????
53.1. Kishore S |   Link |Feb 27, 2021 1:07:40 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
May be a name ending with REDDY
53.2. jatayu |   Link |Feb 28, 2021 3:05:49 PM
MATR:- MACHINE,TOOL,AIDS & RECONDITIONING
52. IPO SUSPENSE |   Link |Feb 28, 2021 9:07:23 AM
Good ipo must apply for

Long term/listing gain

Three fold hoga 1 year me
51. ipobull |   Link |Feb 27, 2021 10:36:10 PM
IPO Mentor IPO Mentor (500+ Posts, 400+ Likes)
Since Eagleye mam has given details, this IPO will be interesting. I would watch it closely and perhaps take it from secondary market after listing.
50. BK Prajapati |   Link |Feb 27, 2021 9:12:53 PM
If anyone get alloted . One can hold this for long term?? Expert your views on mtar for long term pls....
49. NITS IPO |   Link |Feb 26, 2021 7:23:34 PM
Mtar
400 vyaj
360-370

Heranba
215-220
48. Eagleye |   Link |Feb 26, 2021 9:43:30 PM
IPO Guru IPO Guru (6300+ Posts, 20800+ Likes)
MTAR Technologies IPO – Schedule *(FINAL – Pg #457 of RHP)*

26th Feb – Announcement of Price Band
02nd Mar – Anchor Investors Allotment
03rd Mar – Offer Opens
05th Mar – Offer Closes
10th Mar – Finalisation of Basis of Allotment
12th Mar – Unblocking of ASBA Accounts
15th Mar – Credit of Equity Shares to Depository Accounts
16th Mar – Commencement of Trading


MTAR Technologies IPO – Issue Information *(FINAL)*

Issue Opens on: 03 March 2021
Issue Closes on: 05 March 2021
Issue Type: Book Built Issue IPO
Issue Size: 1,03,72,419 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.574 – Rs.575 Share
Discount: NIL
Market Lot: 26 Shares
Listing At: NSE, BSE

Equity Shares outstanding prior to the Issue = 2,86,11,442 Shares
Fresh Issue of 21,48,149 Shares @575/- = Rs.123.52Crs
Offer for Sale of 82,24,270 Shares @575/- = Rs.472.90Crs
Equity Shares outstanding after the Issue = 3,07,59,591 Shares

Category-wise Break up:
Anchor – 31,11,726 Shares = 178.92Crs
QIB – 20,74,484 Shares = 119.28Crs
NII – 15,55,863 Shares = 89.46Crs
RII – 36,30,346 Shares = 208.74Crs (Lot size: 26 = 1,39,629 Forms)
Total Issue – 1,03,72,419 Shares = 596.41Crs.

Subscription required for 1X
RII = 1,39,629 Forms
NII = 89.46 Crs


MTAR Technologies IPO – Financial Information (Basis of Valuation)

The information is collated from the following documents:
1) RHP = Red Herring Prospectus Dated February 22, 2021 (568 pages)

EPS for FY17-18 >>> Rs.01.92 (Page #109 of RHP)
EPS for FY18-19 >>> Rs.13.89 (Page #109 of RHP)
EPS for FY19-20 >>> Rs.11.11 (Page #109 of RHP)
EPS for 9M20-21 >>> Rs.10.48 (Page #109 of RHP)

RoNW for FY17-18 >>> 02.64% (Page #110 of RHP)
RoNW for FY18-19 >>> 16.68% (Page #110 of RHP)
RoNW for FY19-20 >>> 13.91% (Page #110 of RHP)
RoNW for 9M20-21 >>> 11.42% (Page #110 of RHP)

NAV as on December 31, 2020 was Rs.91.78 (Page #110 of RHP)

Listed Industry Peer Group (Page #110 of RHP): None


MTAR Technologies IPO – *Market’s Current Estimates of oversubscription*:

NII = 43K Crs. = ~480.65X
RII = 25L Forms = 17.90X Applic. wise (Avg allotment of ~1.45 shares per lot)

Interest cost *@7.00%p.a.* for 7days = *77.19paise for 1X*

Thus, for NII the costing = 480.65 X 77.19paise = Rs.371.02 per share (= GMP)

And, for RII the costing = 371.02 X 1.45 = Rs.539/- (= Kostak)


MTAR Technologies IPO – *GMP Estimated*
GMP 375 +/- 5
Kostak 545 +/- 10
Subject 2 @8,250/-
47. Eagleye |   Link |Feb 26, 2021 9:45:39 PM
IPO Guru IPO Guru (6300+ Posts, 20800+ Likes)
.


MTAR Technologies IPO – Schedule *(FINAL – Pg #457 of RHP)*

26th Feb – Announcement of Price Band
02nd Mar – Anchor Investors Allotment
03rd Mar – Offer Opens
05th Mar – Offer Closes
10th Mar – Finalisation of Basis of Allotment
12th Mar – Unblocking of ASBA Accounts
15th Mar – Credit of Equity Shares to Depository Accounts
16th Mar – Commencement of Trading


MTAR Technologies IPO – Issue Information *(FINAL)*

Issue Opens on: 03 March 2021
Issue Closes on: 05 March 2021
Issue Type: Book Built Issue IPO
Issue Size: 1,03,72,419 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.574 – Rs.575 Share
Discount: NIL
Market Lot: 26 Shares
Listing At: NSE, BSE

Equity Shares outstanding prior to the Issue = 2,86,11,442 Shares
Fresh Issue of 21,48,149 Shares @575/- = Rs.123.52Crs
Offer for Sale of 82,24,270 Shares @575/- = Rs.472.90Crs
Equity Shares outstanding after the Issue = 3,07,59,591 Shares

Category-wise Break up:
Anchor – 31,11,726 Shares = 178.92Crs
QIB – 20,74,484 Shares = 119.28Crs
NII – 15,55,863 Shares = 89.46Crs
RII – 36,30,346 Shares = 208.74Crs (Lot size: 26 = 1,39,629 Forms)
Total Issue – 1,03,72,419 Shares = 596.41Crs.

Subscription required for 1X
RII = 1,39,629 Forms
NII = 89.46 Crs


MTAR Technologies IPO – Financial Information (Basis of Valuation)

The information is collated from the following documents:
1) RHP = Red Herring Prospectus Dated February 22, 2021 (568 pages)

EPS for FY17-18 >>> Rs.01.92 (Page #109 of RHP)
EPS for FY18-19 >>> Rs.13.89 (Page #109 of RHP)
EPS for FY19-20 >>> Rs.11.11 (Page #109 of RHP)
EPS for 9M20-21 >>> Rs.10.48 (Page #109 of RHP)

RoNW for FY17-18 >>> 02.64% (Page #110 of RHP)
RoNW for FY18-19 >>> 16.68% (Page #110 of RHP)
RoNW for FY19-20 >>> 13.91% (Page #110 of RHP)
RoNW for 9M20-21 >>> 11.42% (Page #110 of RHP)

NAV as on December 31, 2020 was Rs.91.78 (Page #110 of RHP)

Listed Industry Peer Group (Page #110 of RHP): None

MTAR Technologies IPO – *Market’s Current Estimates of oversubscription*:

NII = 43K Crs. = ~480.65X
RII = 25L Forms = 17.90X Applic. wise (Avg allotment of ~1.45 shares per lot)

Interest cost *@7.00%p.a.* for 7days = *77.19paise for 1X*

Thus, for NII the costing = 480.65 X 77.19paise = Rs.371.02 per share (= GMP)

And, for RII the costing = 371.02 X 1.45 = Rs.539/- (= Kostak)


MTAR Technologies IPO – *GMP Estimated*
GMP 375 +/- 5
Kostak 545 +/- 10
Subject 2 @8,250/-
47.1. Amit Pathak |   Link |Feb 26, 2021 9:54:08 PM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
Behtareen 👍.
46. Allued Investor |   Link |Feb 27, 2021 12:22:11 AM
This will do Rossari. 2x listing.
Retail will be heavy subscription in this.

46.1. ganesh jaiswal |   Link |Feb 27, 2021 11:05:06 AM
IPO Mentor IPO Mentor (800+ Posts, 400+ Likes)
I think you are very positive on this counter. But remember secondary market is volatile and choppy.
More over a large number of IPO lined up in March 2021. But this IPO is the first one in march so it has first mover advantage of the month.
46.2. IPO SUSPENSE |   Link |Feb 27, 2021 7:26:15 PM
First day full subscribed