MTAR Technologies | Business Upturn

MTAR Technologies confirms non-classification as a large corporate for FY 2025-26

Arunika Jain — Thu, 30 Apr 2026 12:33:51 +0000

MTAR Technologies has announced that it does not fall under the category of a Large Corporate (LC) as per the criteria set by the Securities and Exchange Board of India (SEBI) in its circular dated 19 October 2023. The company submitted its annual disclosure for the financial year 2025-26, confirming its non-classification as a Large Corporate.

According to the filing, MTAR Technologies reported no mandatory borrowing through debt securities for the fiscal year 2025-26. The company outlined that the mandatory borrowing requirement, which is 25% of the previous year’s borrowing, was not applicable to them. Consequently, the actual borrowing through debt securities stood at nil for the year.

The disclosure further detailed that there was no shortfall in mandatory borrowing through debt securities for the fiscal year 2025-26. This was after adjusting for any shortfall in borrowing for the fiscal year 2024-25, which could have been carried forward to the fiscal year 2025-26. As a result, no penalties were applicable for any shortfall in the borrowing requirements.

MTAR Technologies reiterated its non-classification as a Large Corporate, aligning with the SEBI circular’s applicability criteria. The confirmation was signed by Priyanka Agarwal, the Company Secretary and Compliance Officer of MTAR Technologies.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

MTAR Technologies shares rally over 8% today: Details here

Aman Shukla — Thu, 30 Apr 2026 04:36:22 +0000

Shares of MTAR Technologies surged more than 8% in today’s moring trading session, reflecting strong buying interest and bullish market sentiment. The stock touched a fresh 52-week high, signaling continued upward momentum.

MTAR Tech opened the session at ₹5,700.10, slightly above its previous close of ₹5,656.50. The stock witnessed strong intraday traction, climbing to a high of ₹6,146.00, which also marks its new 52-week high. The day’s low remained at ₹5,700.00, indicating sustained strength throughout the session.

Robust trading activity was also visible, with volumes reaching around 7.9 lakh shares, highlighting heightened investor participation.

Performance Snapshot (as of 10:05 AM)

Today’s High: ₹6,146.00
Today’s Low: ₹5,700.00
52-Week High: ₹6,146.00
52-Week Low: ₹1,358.00
Opening Price: ₹5,700.10
Previous Close: ₹5,656.50
Volume: 7,90,086 shares

Disclaimer: This article is generated for informational purposes only and does not constitute financial, investment, or trading advice. The data and analysis presented are based on publicly available market information at the time of writing. Markets are subject to risk. Please consult a qualified financial advisor before making any investment or trading decisions. Business Upturn does not accept responsibility for any losses arising from reliance on this content.

MTAR Technologies secures Rs 35.56 crore order for data centre projects

Kinjal — Wed, 01 Apr 2026 03:22:08 +0000

MTAR Technologies has announced the receipt of a significant purchase order valued at ₹35.56 crore from an international entity in the energy sector. The order, which involves the supply of various products for data centre infrastructure, is expected to be executed with staggered deliveries up to 4th December 2026.

The company has not disclosed the name of the customer due to confidentiality agreements. However, it has confirmed that the order comes from a new customer in the energy sector and that it is an international contract.

MTAR Technologies, known for its extensive manufacturing capabilities, will be supplying products specifically tailored for data centre infrastructure as part of this contract. The order does not fall under related party transactions, and the company’s promoter group has no interest in the entity awarding the contract.

Parvat Srinivas Reddy, Managing Director of MTAR Technologies, commented on the development, stating, “We are focused on expanding our footprint in the energy sector and addressing the growing demand from data centres. We expect additional orders from this customer upon successful delivery of these products.”

MTAR Technologies, headquartered in Hyderabad, operates twelve strategically located manufacturing units, including an export-oriented unit. The company serves various sectors, including Clean Energy, Civil Nuclear Power, Fuel Cells, Hydel, Space, and Defence, and has longstanding relationships with leading Indian organisations and global original equipment manufacturers (OEMs).

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Top gainers among Nifty stocks in morning trades: MTAR Technologies, Mazagon Dock, IMFA, Garden Reach and more

Aman Shukla — Fri, 09 Jan 2026 05:34:22 +0000

The Indian stock market displayed selective strength in the morning session on January 9, 2026, with the Nifty 50 hovering around the 25,850 mark. Several stocks, particularly in the defence and metals sectors, emerged as notable gainers by 11 AM IST.

Here are the top 10 gainers as of approximately 11 AM IST:

Rank	Company	Market Price (₹)	% Change	Volume
1	MTAR Technologies	2,692.00	6.93%	21,16,332
2	Mazagon Dock Shipbuilders	2,587.00	4.30%	22,25,778
3	Indian Metals & Ferro Alloys	1,267.90	4.07%	2,25,637
4	Garden Reach Shipbuilders & Engineers	2,533.30	3.00%	13,34,484
5	Petronet LNG	291.70	3.02%	39,64,433
6	National Aluminium Co	343.05	2.86%	95,02,437
7	Jamna Auto Industries	132.20	3.03%	13,05,700
8	Hindustan Zinc	607.10	2.77%	57,64,411
9	Gokaldas Exports	643.25	2.72%	5,46,192
10	Indian Bank	852.00	2.90%	N/A

Key Highlights

Defence Sector Momentum: MTAR Technologies topped the list with a strong gain, followed closely by Mazagon Dock Shipbuilders and Garden Reach Shipbuilders & Engineers.
Metals Sector Performance: Stocks like Indian Metals & Ferro Alloys, National Aluminium Co, and Hindustan Zinc continued to attract buying interest.
High Volume Activity: Notable trading volumes were observed in National Aluminium Co, Hindustan Zinc, and Petronet LNG.

Data is based on market conditions as of 11 AM IST on January 9, 2026, and is subject to real-time fluctuations. This information is for reference only and does not constitute investment advice. Always verify with official sources before making any investment decisions.

MTAR Technologies secures Rs 310 crore orders for Kaiga 5 & 6 Nuclear Reactors

Aman Shukla — Thu, 18 Dec 2025 03:54:06 +0000

MTAR Technologies Limited has secured new orders worth ₹310 crore related to the Kaiga Units 5 and 6 reactors in India’s civil nuclear power sector. With this addition, the company’s total order inflow for the Kaiga 5 & 6 reactors during the current month stands at ₹504 crore, including an earlier order of ₹194 crore.

According to the company, these orders are part of its ongoing engagement in the nuclear power segment. Commenting on the development, Managing Director Parvat Srinivas Reddy stated that MTAR expects growth in this segment, supported by its existing order book and the current industry environment.

MTAR Technologies is engaged in manufacturing precision components and assemblies for sectors such as civil nuclear power, clean energy applications, space, and defence. The company operates nine manufacturing units, including export-oriented facilities, located in Hyderabad, Telangana.

Listed on BSE and NSE under the symbols 543270 and MTARTECH, MTAR Technologies has been associated with Indian organisations and global OEMs for over four decades. The latest order announcement provides additional order visibility in the civil nuclear power segment.

MTAR Technologies receives amended order worth USD 41.17 million

Aman Shukla — Mon, 15 Dec 2025 07:47:03 +0000

MTAR Technologies Limited has informed stock exchanges about a revision to a previously disclosed order, resulting in a meaningful enhancement to its order book. In a regulatory filing, the company stated that it has received an amended purchase order worth USD 41.17 million, equivalent to approximately ₹370.56 crore, from an existing customer.

The amended order follows the company’s earlier intimation dated November 12, 2025, wherein MTAR Technologies had disclosed the receipt of orders amounting to USD 30.88 million, or approximately ₹271.75 crore. The revision reflects an incremental increase of USD 10.29 million, translating to about ₹92.64 crore, indicating an expansion in the scope of work under the same contractual arrangement.

In accordance with SEBI’s master circular dated November 11, 2024, the company clarified that the name of the customer cannot be disclosed due to confidentiality obligations. MTAR Technologies further confirmed that the order has been received from an existing client, underscoring continuity in its business relationships.

The execution of the amended purchase order is scheduled for the second quarter of FY27. The company stated that the amendment pertains solely to an enhancement in the order value, with no termination or adverse contractual impact involved.

MTAR Technologies stock rally over 4% after securing Rs 386 crore order from Bloom Energy

Aman Shukla — Wed, 10 Sep 2025 03:48:53 +0000

MTAR Technologies shares surged more than 4% in early morning trade on Wednesday after the Hyderabad-based precision engineering company announced a significant order win in the clean energy segment. As of 9:17 AM, the shares were trading 4.22% higher at Rs 1,472.20.

The company disclosed that it has received fresh orders worth USD 43.87 million (approximately ₹386 crore) from its long-term customer, Bloom Energy Corporation.

According to the company’s stock exchange filing, these orders reinforce MTAR’s strong foothold in the fuel cell technology space and highlight the growing demand for clean energy solutions. The orders will be executed in phases, with ₹205 crore scheduled for completion by March 2026 and the remaining ₹181 crore by June 2026.

Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.

MTAR Technologies secures fuel cell orders worth Rs 386 crore from Bloom Energy

Aman Shukla — Wed, 10 Sep 2025 02:43:01 +0000

MTAR Technologies Limited, a leading precision engineering company serving clean energy, space, defense, and nuclear sectors, has announced a major order win in the clean energy space. The company has secured fresh orders worth USD 43.87 million (approximately ₹386 crore) from its long-standing customer Bloom Energy Corporation, further strengthening its position in the fuel cell segment.

According to the company’s filing, the new orders are part of MTAR’s ongoing business relationship with Bloom Energy and will be executed in phases. Out of the total, ₹205 crore worth of orders are scheduled for execution by March 2026, while the remaining ₹181 crore will be delivered by June 2026.

Commenting on the development, Mr. Parvat Srinivas Reddy, Managing Director of MTAR Technologies, said: “The company continues to strengthen its presence in the Clean Energy – Fuel Cells segment, driven by its cutting-edge product portfolio, timely execution, and cost competitiveness, despite macro challenges such as tariffs. In addition, we expect further orders from the fuel cells segment going forward.”

The company clarified that these orders have been awarded by an international customer, and there is no promoter or group company interest involved. The transactions also do not fall under related-party agreements.

MTAR Technologies signs 10-year contract with Weatherford for Rs 90 crore annual orders

Aman Shukla — Thu, 19 Jun 2025 06:33:07 +0000

MTAR Technologies has announced the signing of a significant long-term contract with Weatherford Products GMBH, a global oilfield services company.

The international agreement spans 10 years and is expected to yield annual revenues of approximately ₹90 crores starting from FY 2027. Ahead of that, the company anticipates executing ₹10 crores worth of orders in FY 2026.

These orders will involve the manufacturing of Whipstock assemblies and other critical components, which will be carried out at MTAR’s upcoming facility in Adibatla, set to become operational by June 2026.

The partnership marks a major step forward in MTAR’s global expansion and highlights its capabilities in delivering complex engineering solutions for the energy sector. The contract does not involve any related party transactions or promoter interest, reinforcing its transparency and strategic significance.

“This milestone reflects our commitment to expand our product base and enhance our customer portfolio across diverse sectors. We are in discussions with several other customers to enter into long-term agreements for various products that shall accelerate our growth momentum. Our expanding product portfolio underscores our dedication to innovation, quality and excellence in service”, said Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies Limited.

In the meantime, MTAR Technologies shares opened at ₹1,690.00 today and, at the time of writing, touched an intraday high of ₹1,708.90 and a low of ₹1,656.70. The stock is trading well below its 52-week high of ₹2,075.65, while remaining significantly above its 52-week low of ₹1,155.60.

MTAR Technologies wins Rs 34 crore orders in clean energy and aerospace sectors

Aman Shukla — Wed, 14 May 2025 03:39:28 +0000

MTAR Technologies Limited has received orders worth approximately ₹34 crore for the manufacture and supply of precision-engineered components in the Clean Energy and Aerospace sectors. These orders are scheduled for execution by the end of FY 2025-26.

The contracts have been awarded by two international clients:

Bloom Energy Corporation, for Clean Energy-related components valued at approximately USD 2.45 million (₹21.02 crore), to be delivered by September 2025.
Rafael Advanced Defense Systems Limited, for Aerospace components worth approximately USD 1.51 million (₹12.98 crore), to be fulfilled by March 2026.

Both contracts are from existing customers and are a continuation of ongoing business relationships.

MTAR Technologies operates nine manufacturing units, including an export-oriented unit, in Hyderabad, Telangana. The company provides engineering and manufacturing solutions across sectors such as Clean Energy (including Civil Nuclear Power and Fuel Cells), Space, and Defense.

According to the company, it is in discussions with various customers for long-term supply agreements and has recently completed initial deliveries of new products in the targeted sectors.

MTAR Technologies: Business Model, Earnings, Promoter Details and Shareholding Pattern

Aman Shukla — Thu, 10 Apr 2025 04:46:07 +0000

MTAR Technologies Limited, a Hyderabad-based precision engineering company, has carved a niche in India’s high-tech manufacturing landscape. With roots dating back to 1970, the company serves critical sectors like aerospace, defense, nuclear power, and clean energy. This article provides a detailed, factual analysis of MTAR Technologies’ business model, its financial performance for Q3 FY25 (October-December 2024), and available insights into its promoters and shareholding pattern as of April 10, 2025.

MTAR Technologies’ Business Model

MTAR Technologies operates as a specialized manufacturer of mission-critical precision components and systems. Its business model revolves around engineering and delivering high-precision products tailored to the technical demands of niche industries. The company’s operations are structured around the following key pillars:

1. Core Product Offerings

MTAR focuses on producing complex, high-value components such as fuel cell assemblies, ball screws, roller screws, water-lubricated bearings, and electro-mechanical actuation systems. These products cater to industries requiring exacting standards, including:

Aerospace: Components for satellite launch vehicles and aircraft systems.
Defense: Precision parts for missile systems and military hardware.
Nuclear Power: Equipment for civil nuclear reactors.
Clean Energy: Systems for fuel cells and renewable energy applications like hydel power.

This focus on specialized engineering allows MTAR to target high-barrier-to-entry markets where quality and reliability are non-negotiable.

2. Customer Base

The company serves a mix of domestic and international clients, including government entities and private corporations. Notable customers include the Indian Space Research Organisation (ISRO), Rafael Advanced Defense Systems, Israel Aerospace Industries (IAI), and Bloom Energy. This diverse clientele spans both public-sector organizations and global private players, reducing reliance on any single market or customer.

3. Manufacturing Capabilities

MTAR operates seven manufacturing units within a 4-km radius in Hyderabad, plus a dedicated export-oriented facility. This concentrated footprint optimizes production efficiency and logistics. The company leverages advanced technologies like CNC machining and precision assembly to meet stringent quality standards, positioning it as a key supplier in India’s industrial ecosystem.

4. Revenue Model

MTAR’s revenue stems from project-based orders, often secured through competitive bidding or long-term contracts. The company executes orders ranging from short-term (within a year) to multi-year projects, providing a mix of immediate cash flow and revenue visibility. For instance, in early 2025, MTAR announced orders worth Rs 200 crore, with Rs 225 crore expected to be executed by April 2026, highlighting its blend of short- and long-term engagements.

5. Sector Diversification

While historically tied to India’s post-embargo engineering needs, MTAR has diversified into clean energy and aerospace, aligning with global trends like sustainability and space exploration. This diversification mitigates risks from sector-specific downturns, though it also exposes the company to varying demand cycles across industries.

The business model, while robust in its technical focus, relies heavily on order inflows and execution timelines. External factors like government funding, global supply chain disruptions, or geopolitical shifts can impact performance, making operational agility a critical factor.

Q3 FY25 Earnings: Financial Performance Analysis

MTAR Technologies released its Q3 FY25 (October-December 2024) earnings on February 10, 2025, reflecting a strong financial uptick driven by demand across its core sectors. Here’s a detailed breakdown of the results:

1. Revenue

Q3 FY25 Revenue: Rs 174.4 crore.
Year-on-Year (YoY) Growth: Up 47.3% from Rs 118.4 crore in Q3 FY24.
Quarter-on-Quarter (QoQ) Change: Specific QoQ data wasn’t widely reported, but the YoY surge suggests robust order execution.

The revenue increase was fueled by heightened demand in defense, aerospace, nuclear, and clean energy sectors. Orders from clients like Bloom Energy (Rs 191 crore) and aerospace firms (Rs 35 crore) announced earlier in 2025 contributed significantly.

2. Net Profit

Q3 FY25 Net Profit: Rs 15.9 crore.
YoY Growth: Up 52.9% from Rs 10.4 crore in Q3 FY24.
QoQ Decline: Down 14.97% from the previous quarter (Q2 FY25), indicating some sequential softening.

The profit growth reflects higher revenues and operational efficiencies, though the QoQ dip suggests potential cost pressures or timing differences in order completions.

3. EBITDA

Q3 FY25 EBITDA: Rs 33.1 crore.
YoY Growth: Up 38.5% from Rs 23.9 crore in Q3 FY24.
EBITDA Margin: 19%, down from 20.2% in Q3 FY24.

The EBITDA rise aligns with revenue growth, but the margin contraction points to higher input costs or a shift in product mix toward lower-margin items. Rising raw material prices and supply chain challenges may have played a role.

4. Key Observations

Order Execution: The company’s ability to execute high-value orders (e.g., Rs 200 crore secured in February 2025) underscores its operational strength.
Sectoral Demand: Defense and aerospace growth ties into India’s push for self-reliance (Atmanirbhar Bharat), while clean energy reflects global sustainability trends.
Challenges: Margin pressure and a QoQ profit drop suggest vulnerabilities to cost inflation or uneven order flow, areas to monitor in Q4 FY25.

MTAR anticipates a 30-35% revenue growth for FY25, buoyed by its order pipeline. However, external risks like U.S. tariffs on imports (announced at 25% in March 2025) could affect export-driven segments, warranting caution.

Promoter Details

MTAR Technologies was founded in 1970 by P. Ravindra Reddy, K. Satyanarayana Reddy, and P. Jayaprakash Reddy to address India’s engineering needs during a post-embargo period. While the company’s origins are promoter-driven, detailed current promoter profiles are limited in public disclosures as of April 9, 2025. Here’s what’s available:

Founding Promoters: The trio of P. Ravindra Reddy, K. Satyanarayana Reddy, and P. Jayaprakash Reddy established MTAR with a focus on precision engineering for government projects. Their technical expertise shaped the company’s early trajectory.
Current Leadership: Parvat Srinivas Reddy serves as Managing Director and is identified as a promoter in company statements. His role reflects continuity of the founding vision, though individual promoter backgrounds beyond their initial contributions are not extensively documented.
Promoter Holding Trends: Promoter shareholding has seen a decline, dropping from 36.42% in September 2024 to 31.42% by December 2024, per Moneycontrol data. This 5% reduction suggests dilution or strategic sales, possibly to fund expansion or reduce personal stakes.

Specific promoter net worth, personal histories, or detailed involvement beyond Parvat Srinivas Reddy’s leadership are not widely available in recent filings or media, limiting deeper insights. The promoter group’s influence remains significant, though less dominant than at inception.

Shareholding Pattern

As of December 31, 2024 (the latest quarter reported by April 9, 2025), MTAR Technologies’ shareholding pattern reflects a balanced mix of promoters, institutions, and retail investors. Here’s the breakdown:

Promoters: 31.42% (down from 36.42% in September 2024).
- Promoter pledges increased by 1.36% QoQ, indicating some promoters may have leveraged their holdings, possibly for liquidity or investment purposes.
Foreign Institutional Investors (FIIs): 7.75%, stable over recent quarters, showing moderate foreign interest.
Domestic Institutional Investors (DIIs): 15.96%, including mutual funds, reflecting growing domestic institutional confidence.
Retail/Public: 39.87%, a significant portion, suggesting broad retail participation amid recent stock volatility.

Disclaimer: This article on MTAR Technologies’s business model, Q3 FY25 earnings, promoter details, and shareholding pattern is based on publicly available information as of April 10, 2025. It is for informational purposes only and not financial or investment advice. While accurate to the best of our knowledge, the data may not be complete or current, and readers should verify details with official sources before making decisions. The author is not liable for any losses or consequences from using this information.

MTAR Technologies secures Rs 200 crore orders in Clean Energy and Aerospace sectors

Aman Shukla — Thu, 06 Feb 2025 08:44:26 +0000

MTAR Technologies Limited has announced a significant milestone by securing orders worth Rs. 200 crores across its Clean Energy, Civil Nuclear Power, MNC Aerospace, and Space verticals. This achievement further strengthens MTAR’s position as a key player in these industries.

Breakdown of Recent Orders

Clean Energy – Fuel Cells: Rs. 157.4 crores worth of orders from Bloom Energy.
Clean Energy – Energy Storage Systems: Rs. 2.7 crores in first article orders from Fluence.
Civil Nuclear Power: Rs. 22.0 crores in orders.
Space & Aerospace: Rs. 17.9 crores, including orders from ISRO and MNC aerospace customers.

Most of these orders are expected to be executed by the end of FY 2026.

According to Mr. Parvat Srinivas Reddy, Managing Director of MTAR Technologies, the company is set to receive volume orders for new products from both existing and new customers in Clean Energy and Space verticals. Discussions with reputed clients for additional projects are in the final stages, ensuring a strong order book in the coming quarters. The company anticipates significant growth in Clean Energy and Aerospace, with substantial Civil Nuclear Power orders expected by the end of FY 2025.

MTAR Technologies shares jump over 4% on Rs 226 crore order win

Aman Shukla — Fri, 20 Dec 2024 04:14:23 +0000

MTAR Technologies’ stock surged over 4% following the announcement of Rs. 226 crore in new orders across its Clean Energy and Aerospace divisions.

This includes a ₹191 crore order from Bloom Energy in Clean Energy and ₹35 crore from aerospace leaders Rafael, IMI Systems, and IAI. The company plans to complete ₹225 crore of these orders within the next year, with the rest by April 2026.

MTAR Technologies shares opened at ₹1,670.05, reaching a high of ₹1,708.55 and a low of ₹1,653.05 today. The stock is trading well below its 52-week high of ₹2,345.00, but above its 52-week low of ₹1,495.40.

As of 9:43 am, MTAR Technologies shares were trading 4.59% higher at Rs 1,702.00 on the NSE.

MTAR Technologies secures Rs 226 crore orders in Clean Energy and Aerospace segments

Aman Shukla — Fri, 20 Dec 2024 03:12:37 +0000

MTAR Technologies has recently informed exchanges that the company bagged Rs. 226 crore of orders in the Clean Energy and Aerospace segments. This includes ₹191 crores worth of orders from Bloom Energy in the Clean Energy domain and ₹35 crores from aerospace giants like Rafael, IMI Systems, and IAI.

The company plans to execute ₹225 crores of these orders within the next year, with the remainder slated for completion by April 2026. This robust order book underscores MTAR’s growing dominance in these high-potential sectors.

Commenting on this achievement, Parvat Srinivas Reddy, Managing Director and Promoter of MTAR Technologies Ltd, stated, “We are optimistic about significant growth in both Clean Energy and Aerospace verticals and expect substantial future orders in these domains.”

MTAR operates eight strategically located manufacturing units in Hyderabad, Telangana, including an export-oriented facility. The company serves sectors like Clean Energy – Civil Nuclear Power, Fuel Cells, Hydropower, Space, and Defense. With over four decades of trusted relationships with Indian and global OEMs, MTAR is well-positioned to capitalize on emerging opportunities in precision engineering.

Stocks to watch: Reliance, Paytm, Axis Bank, Glenmark Pharma and more

Aryan Jakhar — Thu, 22 Dec 2022 03:17:58 +0000

The NSE Nifty 50 is expected to open nearly 100 points higher on Thursday, following a day of high volatility as US markets extended gains. The SGX Nifty futures were quoted at 18,350 at 07:30 AM, compared to the spot Nifty 50 close of 18,199 yesterday.

Meanwhile, the following stocks are likely to be in the spotlight in trading on Thursday.

Sula Vineyards: The winery’s stock will go public on the market today. According to the Grey Market Premium, the stock is likely to begin trading on a low note. The company’s Rs 960.35 IPO was recently subscribed to 2.3 times.

Reliance Industries (RIL): The Mukesh-Ambani-led company’s retail arm, Reliance Retail, has signed a definitive agreement to buy out METRO Cash & Carry India for Rs 2,850 crore. According to a release to the exchanges, the acquisition will add uniquely positioned multi-category large format stores to Reliance Retail’s store footprint across India and further strengthen its new commerce business.

Torrent Pharma and Reliance Capital: The Ahmedabad-based Torrent group has won the race to acquire Reliance Capital, offering Rs 8,640 crore in an auction held on Wednesday. The Torrent Group’s flagship company is Torrent Pharmaceutical.

Spandana Sphoorty Financial: The board of directors of the company has approved a proposal to raise up to Rs 300 crore. One, through the issuance of Rs 200 crore in non-convertible debentures with a 14-month maturity. Two, through the issuance of Rs 100 crore in non-convertible debentures with a term of 36 months.

Speciality Restaurants: The board of directors approved an increase in the company’s authorised share capital from Rs 58 crore to Rs 67 crore. Furthermore, the board approved the issuance of 60 lakh preferential warrants convertible into equity shares worth Rs 127.23 crore at Rs 212.05 each to non-promoter groups or individuals.

Paytm: According to Vijay Shekhar Sharma, MD & CEO of Paytm, the Unified Payments Interface (UPI) should remain free until digital transfers become the dominant method of money transfer. On Wednesday, he spoke at the Business Standard BFSI Insight Summit in Mumbai. According to Sharma, a free UPI will bring more people into the formal economy and have a multiplier effect.

Axis Bank: The bank has strengthened its position on both the asset and liability sides, and it may be on track to deliver sustained performance improvement. The valuation disparity between Axis Bank (which trades at 1.4x core book value (or BV) and peers such as ICICI Bank (which trades at 2x BV) is expected to narrow.

IndiGrid and G R Infraproject: IndiGrid and G R Infraprojects are both infrastructure investment trusts. India Grid Trust and G R Infraprojects have teamed up to bid on power transmission projects worth Rs 5,000 crore. In addition, to kick off the collaboration, they have entered into a framework agreement to acquire a 100% stake in Rajgarh Transmission, which the latter won in March 2022.

MTAR Technologies: MTAR Technologies’ board of directors has approved and recorded the proposal for the design and development of Small Satellite Launch Vehicle (SSLV) Project 2. In addition, an MOU was signed between MTAR and the Indian National Space Promotion and Authorization Centre (IN- SPACe).

Glenmark Pharma: Glenmark Pharma has launched a triple fixed-dose combination of Teneligliptin, Pioglitazone, and Metformin for diabetic patients in India. It is priced at Rs 14.90 per day, which cuts the daily cost of therapy by 40%.

Gautam Gems: The company’s board of directors will meet on December 30 to discuss a proposal to enter the Renewable Energy Sector, which includes windmills and solar energy.

Stocks in F&O Ban: On Thursday, three stocks are subject to a F&O ban: GNFC, Indiabulls Housing Finance, and IRCTC.

MTAR Technologies plans to launch IPO on 3rd March

Sanah Shah — Wed, 24 Feb 2021 10:47:35 +0000

MTAR Technologies, which operates within the clean energy, nuclear, space and defence sectors, has announced that it will be launching an initial public offering (IPO) for subscription on 3rd March 2021.

This will make it the ninth IPO this current calendar year, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft, Brookfield India REIT, Nureca, RailTel Corporation of India and Heranba Industries.

The 1,03,72,419 equity shares public issue will close for subscription on 5th March. On the other hand, the anchor book, if any, will open for a day on 2nd March.

The initial public offering comprises a fresh issue of 21,48,149 equity shares by the company and an offer for sale of 82,24,270 equity shares by promoters and investors.

The offer for sale includes 4,50,000 equity shares by P Leelavathi, 3 lakh shares by Parvat Srinivas Reddy, 1,49,970 shares by P Kalpana Reddy, 3 lakh shares by Saranya Loka Reddy, 2 lakh shares by C Usha Reddy, 3 lakh shares by G Kavitha Reddy, 1.25 lakh shares by D Anitha Reddy, 2.25 lakh shares by K Shalini and 3 lakh shares by A Manogna, which are altogether the promoter selling shareholders.

Investors Fabmohur Advisors LLP and P Simhadri Reddy will sell 57,84,300 equity shares and 90,000 shares by the offer for sale.

The company and selling shareholders with the advice of merchant bankers will decide the price band and the minimum bid batch later this week.

MTAR Technologies had, with the guidance of book running lead managers, undertaken a pre-IPO placement of 18,51,851 equity shares, amounting to a total of Rs 100 crore. According to this, the categorization of the fresh issue of up to 40,00,000 equity shares (earlier) has now been reduced by 18,51,851 equity shares to 21,48,149 shares.

It is a top-tier engineering solutions company that offers accurate solutions which occupy the manufacture of mission compartments with close tolerances (5-10 microns), and in critical assemblies, to work for projects of extreme national importance, using precision machining, assembly, testing, quality control, and specialized fabrication competencies, few of which have been indigenously developed and manufactured.

The company will employ net proceeds from its fresh issue and pre-IPO placement towards repayment of debts and working capital requirements.

JM Financial and IIFL Securities are the books running lead managers to the issue.