MTAR Technologies, a Hyderabad-based company, opened a Rs 597-crore initial public offering (IPO) on 3 March, for which it received an overwhelming response from investors.
The IPO has been subscribed 200.79 times. As per the data available on the exchanges, it has received bids for 145.79 crore equity shares against an offer size of 72.6 lakh equity stocks. In the retail category, the issue was subscribed 28.40 times followed by 164.99 times in QIB, and 650.79 times in the NII category.
The shares were issued with a price band of Rs 574-575 each. Also, the company had undertaken a pre-IPO placement, on 16 February, of 1.85 million equity shares at Rs 540 each, which aggregated to Rs 1,000 million.
The public offering comprises fresh issuance of up to 21,48,149 equity shares worth Rs 123.52 crore and an offer for sale of up to 82,24,270 equity shares worth up to Rs 473 crore by selling shareholders.
MTAR Technologies' shares were trading at a premium of Rs 450 per share in the grey market which means that the listing price can be Rs 1,025 compared to the issue price of Rs 575 per share.
On 10 March, the share allotment is likely to be finalised while the listing may take place on 16 March. Those who have bid for the issue can check the subscription status at the official website of KFintech Private which is the registrar to the IPO and at BSE.
To check the status on KFintech Private you can follow the below-mentioned steps:
Step 1: Investors will have to check the allotment status under the ‘IPO Status’ section on KFin Technologies website after the declaration of the result.
Step 2: They will have to select the IPO and enter either their application number or DPID/Client ID or PAN details. They need to note that if they have selected the application number box then they will have to choose the application type and then enter the application number. While they will have to select the depository from the drop-down menu and enter DPIP, Client ID, if they have opted for the DPID/Client ID box. And for the PAN option box they will have to enter the permanent account number.
Step 3: Enter the given captcha and then click the submit button.
Steps to check the status on BSE:
Step 1: Investors will have to visit the BSE website.
Step 2: From there they will have to select the equity option, and then from the drop-down list select the issue name.
Step 3: Enter the application number and PAN number.
Step 4: Click on the search tab to view the status details.
from Firstpost India Latest News https://ift.tt/3sXtHnh
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