The Rs 597 crore IPO of MTAR Technologies has received excellent response from investors. The company subscribed more than 200 times on Friday, the last day of issue bidding. Earlier, the IPO of Mrs. Bectors was 197.95 times on the last day. It was the first IPO to have had the most fillings in the last three years and record subscription this year.
MATR Tech shares are trading up 85% in the gray market
In the gray market, the price of MATR Tech shares is going up by 85%, which means investors will earn good on the day of listing. Talking about the recent IPOs, Heramba and Rail Tail have also won investors. But Mrs Bacteria has not been able to give much higher returns than the issue price.
650.79 times subscribed non-institutional investors quota
MTAR is selling 72.6 lakh shares while it has got applications for 145.79 crore shares. The company received 28.4 times subscription from retail investor and 165 times from qualified institutional buyers. Non-institutional investors applied for 650.79 times their shares against the reserve quota. The company raised Rs 179 crore from anchor investors on Tuesday.
MTAR Technologies issue subscribed on day one
Company Fresh from 2,148,149 to Rs 123.52 crore in the IPO shares have been offered. In this, its shareholders are also selling 82,24,270 equity shares worth Rs 473 crore. The company has fixed a price band of Rs 574- 575 for the issue. The company will spend the proceeds from the sale of fresh shares to repay debt and meet the need for working capital in the long term. The MTAR issue was subscribed on the first day itself.
Salasar Tech’s IPO names record most filling, 273 times subscription
The highest filling record is of the 2017 IPO of Salasar Tech, which was 273 times full. After this is the number of Apollo Micro, whose IPO in 2018 was 248 times full, while in 2017, the IPO of Astron paper was 241 times. In 2017 itself, the IPO of Capasit Infra was 183 times, and in the same year, the IPO of BSE subsidiary CDSL was 170 times.
This year, 3 IPOs have come up, which are more than 150 times full.
The IPO of Ujjivan Small Finance in 2019 and Amber Enterprises in 2018 was 165 times full. Religare’s IPO, which came in 2007, was 160 times full. This year, 3 IPOs have come up, which are more than 150 times filled. Happiest Mind was 150 times full, Mazgaon Dock 157 times and Burger King 156 times.