IPOs are on the market these days. The new calendar year has just begun for the third month and the stock markets are witnessing a number of IPOs. Are thrown out. The new name in this link is MTAR Technologies. It is a Hyderabad based company. Its initial public offering (IPO) will open for subscription on March 3. It can be subscribed till March 5. This is the ninth public offer of the year. Earlier, public offers came from IRFC, Indigo Paints, Home First Finance Company, Stove Craft, Brookfield India REIT, Nureka, Sheranba Industries and Railtel Corporation of India.
Price band and lot size of MTAR technology
The company has set a price band of Rs 574-575 per share for the IPO. Under this IPO 26 shares have been placed in lots. This means you have to buy at least 3 shares. If calculated from the lower price band, you will need at least Rs 14,924 to apply for this IPO. Retail investors can invest for a maximum of 15 lots.
MTAR Tech’s IPO has a 35 per cent quota for retail investors. There is a 50% quota for QIB.
How long will the allotment of shares last
According to brokerage firms, the allotment of the company’s shares could be completed by March 10. The listing is expected to take place on March 15.
Talking about the managers of this initial public offering, JM Financial and IIL Securities are its chief book managers.
The strong side of this company is its engineering capabilities. The company is active in areas such as clean energy, space, nuclear energy and defense. According to MTAR, this is the first company of its kind to open an IPO for subscriptions this week.