MTAR TECHNOLOGIES IPO to open on March 3, know whether to subscribe or not

The IPO of MTAR TECHNOLOGIES will open from 3 to 5 March. The price band for this IPO is Rs 574-575. Its face value is Rs 10 per equity share. The IPO lot size is 26 shares. The company plans to raise Rs 596 crore from this IPO. Under this, there will be a fresh issue of 123.52 crore and an offer for sale of Rs 472.90 crore. This stock will be listed on both BSE and NSE.

Under the IPO, 10,372,419 shares of face value of Rs 10 will be floated with a total value of Rs 596.41 crore. With this IPO, there will be a fresh issue of 2,148,149 shares and 8,224,270 offers for sale.

Let us tell you that MTAR Technologies currently operates 7 manufacturing units in the country. The company has been serving in the fields of defense, aerospace and energy sector for the last 40 years. Its subscriber list includes ISRO, NPCIL, DRDO, Bloom Energy, Rafael, Elbit. Let us tell you that MTAR Tech recently raised Rs 100 crore from SBI Mutual Funds and Axis Mutual Funds at a price of Rs 540 per share through pre-IPO placement. This has led to the company’s valuation of Rs 1660 crore.

Aastha Jain of Hem Securities is advised to subscribe to this IPO. Aastha Jain says that in this IPO, it is advisable to invest money from both listing gain and long-term perspective. Aastha says that the company client list is very strong. It caters to both domestic and foreign customers. Its order book is also very strong. The debt on the company is also very low. The company caters to the defense sector. There is a lot of potential in this sector, which will benefit the company.