MTAR Tech allotment status: Strong listing gains likely; have you got the shares?

NEW DELHI: MTAR Technologies is all set to finalise share allotment today, and going by the grey market trends, investors who are lucky enough to get some shares could be in for some solid listing gains.

Unlisted shares of the company are still commanding strong grey market premium in the Rs 475-490 range, down a bit from the Rs 530 per share they had quoted on March 5, when the initial public offer (IPO) concluded for subscription.

“One of the reasons for the expected bumper listing is the fact that it is one-of-a-kind company with no comparable peers. MTAR caters to marquee clients like ISRO, DRDO, NPCIL, Bloom Energy and Rafaeland and is uniquely positioned to benefit from the government’s focus on indigenisation of defence sector through the ‘Make in India’ initiative. We are positive on the long-term prospects of the company,” said Jyoti Roy, DVP for Equity Strategist at Angel Broking.

The IPO quota reserved for retail investors got subscribed 28 times in the Rs 574-Rs 575 price band. This issue also received a massive 651 times subscription in the HNI category and 165 times in the qualified institutional buyer (QIB) category. The IPO was subscribed 201 times overall.

Abhay Doshi, founder at Gujarat-based at UnlistedArena.com, who also tracks grey market, said the stock was commanding Rs 485-490 premium in the grey market. “Volatility is one reason for the slight easing of grey market premium. The premiums looked stretched in all recent IPOs due to market frenzy and so they are cooling off a bit,” Doshi said.

Investors, who had bid for the issue, can check the share allotment status on the BSE website:
You can also check the share allotment status of the online portal of KFintech Private Limited, the registrar to the issue. The registrar is a Sebi-registered entity qualified to act as such, which electronically processes all applications and carries out the allotment process as per the prospectus.

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatch and upload refunds, and attend to all investor-related queries after the issue is completed.

On KFintech Private Limited's web portal:

• Select IPO in the drop box
• You will find the name of MTAR Technologies only if the allotment is finalised
• You may be required to select either one of the three modes: Application number, Client ID or PAN ID
• In Application Type, select between ASBA and non-ASBA options
• Enter the details of the mode you selected in Step 25
• For security purpose, fill in the captcha accurately
• Hit the ‘submit’ button to get the desired results