Quote on MTAR Technologies IPO By Jyoti Roy, Angel Broking
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Below are Quote on MTAR Technologies IPO By Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd
The Rs. 596 cr. MTAR Technologies IPO has received an overwhelming response with the IPO getting subscribed by almost 201 times. The retail portion was subscribed by 28.4x while the QIB and the NIB categories were subscribed by 165x and 650.8x respectively. The MTAR stock is expected to be listed on the exchanges on the 16th of March and if grey market premiums are anything to go by then it is going to be nothing short of a bumper listing. One of the reasons for the expected bumper listing is that it is one of a kind company with no comparable peers. The company caters to marquee clients like ISRO, DRDO, NPCIL, Bloom Energy and Rafaeland is uniquely positioned to benefit from the Government’s focus on the defence sector and make in India initiative. We are positive on the long-term prospects of the Company and have recommended a "SUBSCRIBE" rating to the IPO.
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