The IPO of MTAR Technologies has opened today. The company wants to raise Rs 560 crore through a public issue. Its main business is manufacturing defense weapons. The money raised from the issue will be used to pay the debt. This is the 9th IPO to be launched in 2021.
21.48 lakh fresh shares to be floated in IPO
According to the draft Red Herring Prospects (DRHP), the company will issue 21.48 lakh fresh shares in the IPO, while 82.24 crore shares will be issued through Offer for Sale (OFS). The price band of the IPO has been fixed at Rs 574-575 per share. The issue will close on 5 March. Its listing will be on the BSE and NSE on 16 March. Hyderabad-based company MTAR Technologies has already raised Rs 179 crore from 15 anchor investors. For this, the company issued 31.11 lakh shares at a price of Rs 575 per share.
Easy Trip Planner IPO to open from March 8
Easy Trip Planner, a company in the Tour and Travels sector, is set to launch an IPO. The company plans to raise Rs 510 crore. The price band has been fixed at Rs 186-187 per share for initial public offering. The IPO will be open from March 8 to March 10. Its lead managers will be Axis Capital and JM Financial.
SEBI approves IPO of Anupam Chemicals
IPO of specialty chemical company Anupam Chemicals is also coming soon. Market regulator SEBI has approved the company’s application. The company plans to raise Rs 760 crore through an IPO. In December last year, the company filed for an IPO. Promoters hold 76.8% and 23.2% public shares in the company.
The money will be used for debt payments and general corporate functions
50% of the public issue will be reserved for qualified institutional buyers (QIB). The reserve will be 15% for non-institutional investors (NII) and 35% for retail investors. Apart from this, some portion may be reserved for the employees of the company. The proceeds from the IPO will be used to pay the debt, which is about Rs 556 crore. Others will be used for general corporate functions.
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