MTAR Technologies IPO offer will hit the market on March 3, 2021. MTAR is a precision engineering company based in Hyderabad planning to float a maiden public offer containing fresh issues and OFS equity shares. Ahead of the IPO launch, let’s check out all the important details related to the offer and see if it is worth subscribing.
MTAR Technologies is a prominent player in the precision engineering segment, primarily engages in producing mission-critical components for the defence, space and aerospace sectors. The firm has seven modern units in Hyderabad and Telangana, where it undertakes precision machining and related processes for DRDO, ISRO, NPCIL, Rafael, Bloom Energy, and more. A wide and complex product range, a successful track record, and strong financials will keep MTAR ahead of its peers.
According to the red herring prospectus, the company earned revenue worth Rs 213.7 crores during the financial year closing in March 2020, and for the nine months till December, revenue volume was RS 177.28 crores. Profit After Tax or PTA was Rs 310.30 crores in FY 2019-20 and between April and December Rs 28 crore.
Ahead of the launch, the company shares are trading in the grey market at Rs 245 or 43 percent premium. Most brokers have advised investors to ‘subscribe’ to MTAR Technologies IPO considering its healthy order book, competitive advantage, and higher profitability.
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