MTAR Technologies Limited IPO

Incorporated in 1999, MTAR Technologies is a leading precision engineering solutions company that is engaged in the manufacturing of mission-critical precision components that have close tolerance of 5-10 microns and in critical assemblies which serves the projects of high national importance through assembly, testing, quality control, precision machining and specialized fabrication competencies. The company primarily serves customers in the nuclear, clean energy, and space & defense sectors.

MTAR Technologies has a diversified product portfolio which includes critical assemblies like Liquid propulsion engines to GSLV Mark III, Actuators for LCA, power units for fuel cells, Base Shroud Assembly & Airframes for Agni Programs, Fuel machining head, Drive Mechanisms, Bridge & Column, Thimble Package, etc. to meet the varied requirements through a wide range of complex products in the Defence, Indian Nuclear, and Space sectors.

Some of the esteemed clients of MTAR Technologies are ISRO, DRDO, NPCIL, Bloom Energy, Elbit, Rafael, etc.

In Hyderabad (Telangana), it has its 7 state-of-the-art manufacturing facilities which undertake precision machining, specialized fabrication, assembly, testing and quality control, brazing & heat treatment, and other specialized processes.

The promoters of the company are Parvat Srinivas Reddy, P. Leelavathi, K. Shalini, D. Anitha Reddy, C. Usha Reddy, G. Kavitha Reddy, Anushman Reddy, P. Kalpana Reddy, Saranya Loka Reddy, A. Manogna, and M. Madhavi.

Strengths of the Company:

The company has precision engineering expertise with the capability of complex product manufacturing.
It has a diversified portfolio which leads to long-standing relationships with its customers.
The company has modern technology at its state-of-the-art manufacturing facilities.
It has a strong & diversified supplier base for the sourcing of raw materials.
The company has a strong track record of growth in financial performance.
MTAR Technologies has a qualified and experienced management team.

Purpose of the IPO:

To repay or prepay the borrowings of the company.
For funding the working capital requirements of company
To meet the general corporate purposes

Financial Performance of the company:

	For the nine-month period ended 31st December 2020	FY 2020	FY 2019	FY 2018
Total Revenue	177.99	218.14	185.91	160.54
Total Expenses	138.39	172.60	145.64	143.39
Profit after tax	28.06	31.31	39.19	5.42
Total Assets	381.91	346.27	305.15	281.03

*All the values are in crores and as per DRHP.

Valuation of the company:

	For the nine-month period ended 31st December 2020	FY 2020	FY 2019	FY 2018
Basic Earnings per Share (EPS)	10.48	11.11	13.89	1.92
Diluted Earnings per Share (EPS)	10.48	11.11	13.89	1.92
Return on Net Worth (%)	11.42%	13.91%	16.68%	2.64%
Net assets value per Equity share	91.79	84.11	83.29	72.84

*as per DRHP.

MTAR Technologies Limited DRHP

MTAR Technologies Limited RHP

IPO details:

Face Value	₹10 per equity share
Market Lot	26 Shares
Minimum Order Quantity	26 Shares
Price Band	₹574 - ₹575 per equity share
Issue type	Book Built Issue IPO
Issue Size	₹596.41 Crores
Fresh Issue	₹123.52 Crores
Offer for Sale	₹472.90 Crores
Listing	NSE, BSE

Important IPO dates:

Open Date	03rd March 2021
Close Date	05th March 2021
Basis of Allotment Date	10th March 2021
Initiation of Refunds	12th March 2021
The credit of shares to Demat Account	15th March 2021
Listing Date	15th March 2021

Allocation Quota:

Category	Portion
Qualified Institutional Buyers (QIBs)	Not more than 50%
Non- Institutional Buyers (NIIs)	Not less than 15%
Retail Investors	Not less than 35%

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