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MTAR is a leading precision engineering solutions company engaged in the manufacture of mission critical precision components with close tolerances and in critical assemblies. Since its inception, MTAR Technologies has significantly expanded its product portfolio including critical assemblies and manufactures a wide range of complex product portfolios to meet the varied requirements of the Indian nuclear, Defence, and Space sector. MTAR Technologies is uniquely positioned given that it is one of a kind company catering to marquee clients like ISRO, DRDO, NPCIL, Bloom Energy and Rafael. At the higher end of the price band the company is offering the shares at P/E multiple of 49.1xFY20 EPS. We believe that the company 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 recommend "SUBSCRIBE" to the MTAR Technologies IPO for long term as well as for listing gains.