MTAR Technologies IPO subscribed over 200 times on final day of bidding

The Rs 597-crore initial public offering of MTAR Technologies was subscribed more than 200 times on Friday, the final day of the bidding process on overwhelming support from investors.

The IPO has received bids for 145.79 crore equity shares against an offer size of 72.6 lakh equity stocks, translating into a subscription of 200.79 times, data available on the exchanges showed.

The portion reserved for retail investors was subscribed 28.4 times, qualified institutional buyers category was subscribed 165 times and non-institutional category received 650.79 times subscription.

MTAR Technologies, a precision engineering solutions company, on Tuesday raised Rs 179 crore from anchor investors.