IPO Central

MTAR Technologies IPO description – MTAR Technologies is engaged in the manufacture of precision components with close tolerances (5-10 microns), and in critical assemblies, to serve projects of high national importance. The company primarily serves customers in the nuclear, space and defence, and clean energy sectors. Since inception, the company has contributed to the Indian civilian nuclear power programme, Indian space programme, Indian defence and aerospace sector, global defence and aerospace sector, as well as to the global clean energy sector.

Clean energy is another key area for the company and it makes power units, specifically hot boxes, and hydrogen boxes, and electrolyzers for global customers including Bloom Energy. Clean energy accounted for 64.34% of its revenues in FY2020.

The company manufactures and supplies specialized products such as fuel machining head, drive mechanisms, bridge and column and coolant channel assemblies, among others, not just for the new pressurised heavy water nuclear reactors, but also for refurbishment of the existing reactors. During FY2020, 14.27% of its revenue from operations came from Nuclear sector. MTAR Technologies operates through seven manufacturing facilities, including an export-oriented unit (EOU) in Hyderabad, Telangana.

Promoters of MTAR Technologies – 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