The issue from MTAR Technologies Limited which had tapped the capital markets, received excellent response and was subscribed over 200 times. MTAR had tapped the capital markets with its fresh issue of 21.48 lac shares and an offer for sale of 82.24 lac shares in a price band of Rs 574-575. It had earlier completed allocation to anchor investors. The company allotted 31,11,725 equity shares to 15 anchor investors comprising of 44 entities. The investors included 4 FPI’s, 10 mutual funds and 1 insurance company.

The company allotted a uniform 1,73,914 shares or 5.59% of the anchor allocation to 13 anchor investors. The remaining two, Axis Mutual Fund and SBI mutual Fund who had invested in the pre-ipo placement were allotted higher number of shares. They were allotted 4,25,412 shares or 13.67% of the anchor portion.

The issue saw the QIB portion subscribed 164.99 times, HNI portion subscribed 650.71 times, Retail portion subscribed 28.40 times. There were 29.17 lac applications in all. The issue was subscribed 200.79 times. The cost for the leveraged HNI would be as much as the issue price in terms of interest. This effectively means that the listing price should be double or Rs 1,150 for the HNI to break even. The response from HNI’ saw a fund garnering of Rs 58,200 crs.