As per the cumulative data on NSE, the maiden received bids of whopping 1,45,79,03,122 equity shares against the offered size of 72,60,694 points - oversubscribing by 200.79 times.
High net worth investors were major bidders of the IPO with the portion reserved for this category oversubscribing by 650.79 times. Meanwhile, the institutional investors' portion recorded a subscription of 164.99 times. The retail individual investors (RII) portion got subscribed by 28.40 times.
The IPO consisted of Rs124cr fresh issue and offers for sale amounting to Rs473cr by promoters and investors. The company had fixed a price band of Rs574 to Rs575 per equity share on the issue.
MTAR Technologies is a leading national player in the precision engineering industry engaged in the manufacture of mission-critical precision components with close tolerances (5-10 microns), and in critical assemblies, to serve projects of high national importance, through our precision machining, assembly, testing, quality control, and specialized fabrication competencies, some of which have been indigenously developed and manufactured.
MTAR would be the ninth IPO of this year followed by Indigo Paints, Home First Finance Company, Nureca, Stove Kraft, Brookfield India REIT, Indian Railway Finance Corporation, RailTel Corporation of India and Heranba Industries.
MTAR would also be the largest subscribed IPO to date in 2021. At present, Indigo Paints is the second to MTAR, with an oversubscription of 117.02 times. Heranba which made its market debut on Friday would be the third top IPO with 83.29 times subscription.