MTAR Technologies IPO saw a strong response from retail investors and HNIs, helping the issue get fully subscribed on day 1 (March 3) itself
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var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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The premium on MTAR Technologies shares in the grey market has seen a four-fold jump in about a week’s time. The positive sentiment in the secondary market for last 3 days could be one of the reasons.
MTAR Technologies IPO saw a strong response from retail investors and HNIs, helping the issue get fully subscribed on day 1 (March 3) itself.
MTAR shares traded with a premium of Rs 430-440 on March 3, i.e. at Rs 1,005-1,015, up 74.8-76.5 percent over issue price of Rs 574-575 per share, the data available on the IPO Watch showed.
In comparison, the shares traded at a premium of Rs 100-110 on February 23, which increased to Rs 170-180 at the end of last week.
On the first day of subscription, the public issue was subscribed 3.68 times as retail investors put in nearly 7 times higher bids against their reserved portion and HNIs’ portion was fully subscribed.
Generally, the positive sentiment in the secondary market has a rub off in the primary market as well. Indian equity benchmarks gained nearly 5 percent in first three trading sessions of the current week.
MTAR Technologies IPO opens: Should you subscribe?
MTAR Technologies, which manufactures hi-precision indigenous components, subsystems and assemblies for projects of national importance, opened its Rs 596-crore public issue for subscription on March 3. The issue consists of a fresh issue of Rs 123 crore and an offer for sale of Rs 473 crore by promoters and investors.
The company will utilise fresh issue proceeds for debt repayment, working capital requirements and general corporate purposes.
MTAR Technologies IPO: 10 things you should know before the issue opens
“We like MTAR Technologies given its complex/wide product portfolio, presence in niche space, strong client relationship and high entry barriers. The issue is valued at 47.3x FY21E P/E and 3.7x P/BV on an annualized and post issue basis. We believe the company could benefit from the government impetus on the indigenization,” said Motilal Oswal.
“We recommend subscribe for long term. Further given the current buoyant market and high interest for defence stocks, the issue could see listing gains as well. The risk is 49 percent of its revenues is derived from a single customer – Bloom Energy, US,” the brokerage added.
