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MTAR Technologies Ltd. has announced public offering of 10372420 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 565.00 per share. The gross proceeds of the issue are expected to be Rs 59,641.42 lakhs.
The company's initial public offer (IPO) will open on 03 March 2021 and is expected to close on 05 March 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 574.00-575.00 per share.
The IPO includes a fresh Issue of 10372420 Equity Shares of the Company at an price of Rs 575.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 26 shares with bids in multiples of 26.
MTAR Technologies Ltd. anticipates using the proceeds of the issue for Repayment / prepayment in full or in part, of borrowings availed by our Company Funding working capital requirements; and General corporate purposes.
as lead manager & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.
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