MTAR Technologies garners Rs 179 crore from anchor investors old to IPO

The marquee names amongst international portfolio investors, who participated within the anchor guide, were Goldman Sachs India, Jupiter South Asia Investment and Nomura Funds Ireland.

March 02, 2021 / 08: 40 PM IST

MTAR Technologies, a Hyderabad-essentially essentially essentially based precision engineering solutions company, has raised Rs 178.92 crore from anchor investors on March 2, old to its initial public providing (IPO), slated to launch on March 3.

The corporate urged exchanges that it has finalised allocation of 31,11,725 fairness shares at Rs 575 per portion to anchor investors including four international portfolio investors and 10 mutual funds.

The marquee names amongst international portfolio investors, who participated within the anchor guide, were Goldman Sachs India, Jupiter South Asia Investment and Nomura Funds Ireland. These investors bought 1,73,914 fairness shares for Rs 10 crore every.

Among the home investors, SBI Mutual Fund, Axis Mutual Fund, Nippon Lifestyles India Trustee, Franklin India, Sundaram Mutual Fund, ITPL, Aditya Birla Sun Lifestyles, HDFC Trustee, ICICI Prudential and Kotak MF bought shares value Rs 128.9 crore within the anchor guide. SBI MF and Axis MF additionally invested Rs 70 crore and Rs 30 crore, respectively in a pre-IPO spherical that concluded final month, the clicking bid mentioned.

MTAR Technologies IPO: 10 issues it's fundamental to know sooner than the distress opens

The Rs 597-crore public distress comprises a new distress of 21,48,149 fairness shares and a proposal accessible on the market (OFS) of 82,24,270 fairness shares by promoters and investors. The distress will shut on March 5.

The value band of the distress has been fastened at Rs 574- Rs 575 per portion. The corporate will utilise new distress proceeds for debt compensation and dealing capital requirements.

JM Monetary and IIFL Securities are the guide running lead managers of the provide.

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