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<ul><li>The company is likely to announce its share allotment status on September 28.</li><li>The Mumbai-based defence company’s IPO was subscribed 304 times on the last day of bidding.</li><li>Investors have bid for 217 crore shares against the 71.40 crore shares on offer.</li></ul>Mumbai-based defence company Paras Defence and Space Technologies is likely to announce the allotment of its initial public offering (IPO) status on Tuesday, September 28. The IPO was open for subscription between September 21 and September 23. The company is looking to raise ₹170 crore out of which ₹140 crore is through fresh issue ₹30 crore is through offer for sale (OFS) by the promoters. The IPO has received very strong response from investors especially from qualified institutional buyers and non-institutional investors. Overall, investors have bid for 217 crore shares against the 71.40 crore shares on offer. The portion for qualified institutional investors was subscribed 169.65 times while the non-institutional investor category received a bid for 927.70 times. The public issue of the company was a hit among investors as it was fully subscribed in just one hour of bidding on the first day. <a href="https://www.zeebiz.com/market-news/news-paras-defence-ipo-creates-history-massive-retail-push-makes-it-most-oversubscribed-ipo-ever-heres-why-165973">Reportedly</a>, Paras Defence and Space Technologies’ IPO is one of the most highly subscribed IPOs in history. Other IPOs that made into the list of most subscribed include Astron Paper &amp; Board Mill with 241.8 times, Mrs. Bectors (198 times), Capacite Infraprojects (183 times), Ujjivan Small Finance Bank (165.7 times), and Amber Enterprises (165.4 times). The company is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. One of the reasons for the IPO to become a huge hit was its robust grey market premium. Shares of Paras Defence &amp; Space Technologies were reportedly trading at a premium of ₹260 per share, up by over 150% from the price band of ₹165-170. More importantly, most analysts had recommended subscribing to the IPO for the long term on strong growth prospects. “Company has [a] wide range of products and solutions for both defence and space applications. Company being one of the few players in high precision optics manufacturing for space and defence application in India has strong R&amp;D [research and development] capabilities with focus on innovation and is well positioned to benefit from the government’s “Atmanirbhar Bharat” and “Make in India” initiatives. Also, the company's strong order book gives good revenue visibility going forward,” said analysts at HEM Securities while recommending to subscribe to the IPO for long term. Analysts at Choice Broking say the company doesn’t have any peers in the listed space which they believe is an add-on. “Considering its niche product profile and technology, dominant market positioning and vast growth potential, we assign a “SUBSCRIBE” rating for the issue.” SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/pvr-inox-vodafone-idea-hdfc-bank-and-other-top-stocks-to-watch-out-for-on-september-27/slidelist/86545560.cms">PVR, Inox, Vodafone Idea, HDFC Bank and other top stocks to watch out for on September 27</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ofbusiness-was-the-only-woman-led-startup-that-entered-the-unicorn-club-this-year/articleshow/86511076.cms">OfBusiness was the only woman led startup that entered the unicorn club this year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-motors-coal-india-ntpc-and-other-underperforming-stocks-in-last-10-years/slidelist/86535881.cms">Those who have held these stocks for a decade have only lost money</a>

Paras Defence and Space Technologies IPO allotment is tomorrow, IPO was subscribed 304 times

<ul><li>Our focus is on aluminium forged components as the vehicles are going to get light weighted across segments because of the emissions norms, said B R Preetham, group chief executive officer at <keyword id="1734451" type="General" weightage="20" keywordseo="sansera-engineering" source="Orion">Sansera Engineering</keyword> in an interview with Business Insider.</li><li><keyword id="12014102" type="General" weightage="20" keywordseo="sansera-engineering-ipo" source="Orion">Sansera Engineering IPO</keyword> is opening from today and closes on September 16.</li><li>The company has already mopped up ₹382 crore from anchor investors ahead of the IPO while it is looking to raise ₹1,282 crore from an offer for sale of 1.72 crore shares. </li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>Just like Audi, BMW, Nissan and Porsche, are now making the switch from steel to aluminum for lightweight batteries in electric cars, r<a href="https://www.azom.com/article.aspx?ArticleID=20395">eportedly</a>, influenced by Tesla’s aluminum based design, an Indian auto parts maker opening its initial public offering today is hoping that Indian customers like Maruti, Bajaj Auto and Honda will also do the same. “One of our focused areas is aluminium forged components as you are aware the industry is going to get light weighted both in passenger vehicles and two-wheelers whether it is electric or not. Lightweighting is going to happen because of the emissions norms,” said B R Preetham, group chief executive officer at Sansera Engineering in an interview with Business Insider. Aluminium is lighter than steel, better for recycling and reduces emissions. Due to its upcoming IPO compliance requirements, Preetham did not reveal their overall investment towards this segment but mentioned, “we have invested a lot in the aluminium forgings and thereby expect increasing revenue from it further,” said Preetham. Sansera Engineering’s IPO opens today and closes on September 16 The company is looking to raise ₹1,282 crore from an offer for sale of 1.72 crore shares at a price band ₹734-744. Ahead of the IPO, the company had mopped up ₹382 crore from anchor investors. Government of Singapore, Abhu Dhabi Investment Authority, Axis MF, ICICI Prudential MF are some of the anchor investors who bought the IPO. The allotment of the shares will be revealed on September 21 and the shares will be listed on September 24. The verdict from analysts has been a mixed one. Ventura Securities argues that the IPO is overpriced and that the return on investment may be the worst in the sector. Whereas, those at BP Wealth rated the IPO as ‘subscribe’ citing “the strong product portfolio, advanced manufacturing capabilities and robust track record.” <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Existing shareholders selling via IPO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current stake </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stake to be sold via IPO </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Client Ebene </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.85% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">86.35 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CVCIGP II Employees EBENE </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.96% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48.36 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">S Sekhar Vasan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.90% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.58 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Unni Rajagopal K </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.36% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.71 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">D Devaraj </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.11% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.71 lakh shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FR Singhvi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.27% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.71 lakh shares </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> This is Sansera Engineering’s second attempt to go public. Earlier, it had filed for an IPO with the market regulator in August 2018. Reportedly, it had received a nod to float the public issue, but it did not go ahead with the <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/sansera-engineering-gets-sebis-go-ahead-to-launch-ipo/articleshow/85190914.cms">launch</a>. Sansera wants a share in the electric vehicles pie Meanwhile, the company is also expanding its component services to the electric vehicle segment. “Only 6% of our business is under that (electrification). But having said that we have already started our journey into electrification, we have secured orders from new age startups who are setting up huge facilities for electric two wheelers. We are going to supply about 8 components to them,” added the company management in an interview. On being asked if the new customer was Ola, Preetham refused to disclose the name of the customer but said that it was, indeed, a well-known startup. <div type="image" title="sansera chart" height="900" width="1200" msid="86188995" hostid="261"></div> As of July 31, 2021, Sansera Engineering has 16 manufacturing facilities, of which 15 are in India in the states of Karnataka, Haryana, Maharashtra, Uttarakhand and Gujarat, and one facility is in Trollhättan, Sweden Within the automotive sector, the company manufactures and supplies a range of precision forged and machined components and assemblies, such as connecting rod, rocker arm, crankshaft, gear shifter fork, stem comp, and aluminium forged parts. Within the non-automotive sector, it manufactures and supplies a range of precision components for the aerospace, off-road, agriculture and other segments, including engineering and capital goods. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/online-pharmacy-startup-pharmeasy-is-looking-to-hire-200-engineers-in-hyderabad-pune-and-delhi-before-the-ipo/articleshow/86168091.cms">Online pharmacy Startup PharmEasy is looking to hire 200 engineers in Hyderabad, Pune and Delhi before the IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ami-organics-zee-entertainment-infosys-and-other-top-stocks-to-watch-out-for-on-september-14/slidelist/86188036.cms">Zee Entertainment, Infosys, Ami Organics, and other top stocks to watch out for on September 14</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ami-organics-zee-entertainment-infosys-and-other-top-stocks-to-watch-out-for-on-september-14/slidelist/86188036.cms"></a>

INTERVIEW:  An auto parts maker for Maruti, Bajaj and Honda is betting that Indian car makers will take a leaf out of Tesla’s playbook

<ul><li>Paras Defence and Space Technologies’ IPO is opening on September 21 and will close on September 23.</li><li>The Mumbai-based defence company is looking to raise ₹170 crore through its IPO that opens next week.</li><li>Analysts believe the IPO is a good bet for the long term considering it gets 50% of its revenue from government entities.</li></ul>The initial public offering (IPO) of Paras Defence &amp; Space Technologies may get huge demand from investors if its grey market premium is to be considered as an indicator. Shares of the Mumbai-based defence company were <a href="https://www.moneycontrol.com/news/business/markets/paras-defence-and-space-technologies-ipo-shares-trade-at-over-125-premium-in-grey-market-7484071.html">reportedly</a> trading at a premium of ₹220 per share, up by over 125% from the price band of ₹165-170. The IPO is opening on September 21 and will close on September 23. The demand from investors is justified if we take into consideration the optimistic view by analysts. They have highlighted the company’s ability to benefit from the government’s ‘Make in India’ initiative along with its strong order book. “Company has [a] wide range of products and solutions for both defence and space applications. Company being one of the few players in high precision optics manufacturing for space and defence application in India has strong R&amp;D [research and development] capabilities with focus on innovation and is well positioned to benefit from the government’s “Atmanirbhar Bharat” and “Make in India” initiatives. Also, the company's strong order book gives good revenue visibility going forward,” said analysts at HEM Securities while recommending to subscribe to the IPO for long term. The company derives majority of its business from government entities in the defence and space sector. As of FY21, government and private entities generated 50.8% and 32.3% revenue, while the rest was from exports. It has a strong order book of ₹304 crore as of June 30, 2021. “Paras Defence has a wide range of products and services with strong R&amp;D capabilities. However, the company’s financials have been volatile over the past 3 years, which is a cause of concern. Outlook for Paras defence in the long term is encouraging based on positive sectoral outlook, government support and company’s expansion &amp; diversification plans. Hence we give a “SUBSCRIBE” rating to this IPO for a long term horizon,” said analysts at BP Wealth Equities. The company doesn’t have any peers in the listed space which analysts believe is an add-on. “Considering its niche product profile and technology, dominant market positioning and vast growth potential, we assign a “SUBSCRIBE” rating for the issue,” said a report by Choice Broking. Here are some of the important dates related to the IPO: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹165 to ₹175 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">September 21 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">September 23 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">September 28 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">September 29 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">September 30 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">September 1 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">85 </td></tr></tbody><tbody></tbody><tbody></tbody></table> The Mumbai-based defence company is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company intends to utilise the net proceeds of the issue to purchase machinery and equipment, funding incremental working capital requirements, repaying certain borrowings, and for general corporate purposes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/amazon-lawyers-allegedly-paid-bribes-to-indian-government-officials/articleshow/86360262.cms">Amazon is investigating its lawyers for allegedly bribing Indian government officials</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/kotak-mahindra-bank-to-buy-about-10-in-kfin-technologies-for-310-crore/articleshow/86360811.cms">Kotak Mahindra Bank to buy about 10% in KFin Technologies for ₹310 crore</a>

Paras Defence & Space Tech IPO: Grey market is willing to pay twice the price

Shares of <keyword id="370495" type="COMPANY" weightage="20" keywordseo="MTAR-Technologies">MTAR Technologies</keyword> on Monday made a blockbuster debut with a premium of 85 per cent against its issue price of Rs 575. It listed at Rs 1,063.90, registering a gain of 85 per cent from the issue price on BSE. Later, it jumped 95.65 per cent to Rs 1,125. On <keyword id="6354646" type="COMPANY" weightage="20" keywordseo="nse">NSE</keyword>, it debuted at Rs 1,050 - a premium of 82.60 per cent. The company's market valuation was at Rs 3,397.86 crore on BSE. The initial public offering (<keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>) of MTAR Technologies was subscribed 200.79 times earlier this month. The price band for MTAR Technologies Rs 597-crore IPO was at Rs 574-575 per equity share. The Hyderabad-based company has precision engineering capabilities to build nuclear and pressurised water reactors, aerospace engines, missile systems, aircraft components and many such other critical components and assemblies. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-600-crore-ipo-of-defence-components-maker-mtar-technologies-is-set-to-launch-on-march-3/articleshow/81207918.cms">The ₹600 crore IPO of defence components maker MTAR is slated for next week — price band set at ₹574-575 per share</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-share-allotment-status-of-mtar-technologies-ipo/articleshow/81424102.cms">MTAR Technologies IPO: Here is how to check share allotment status</a>

MTAR Technologies makes a stellar stock market debut, shares list at a 85% premium

IT services major Tata Consultancy Services has entered into a partnership with the <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>n Institute of Technology-Bombay, to develop what it said is India's first <keyword id="21836125" type="General" weightage="20" keywordseo="quantum-diamond-microchip-imager" source="keywords">quantum diamond microchip imager</keyword>. According to a statement from the IT services major on Tuesday, this to-be-developed sensing tool will hold the potential to unlock new levels of precision in the examination of <keyword id="20649044" type="General" weightage="20" keywordseo="semiconductor-chips" source="keywords">semiconductor chips</keyword>, reduce chip failures and improve the energy efficiency of electronic devices. Over the next two years, experts from <keyword id="19950203" type="General" weightage="20" keywordseo="TCS" source="keywords" meta.keywordsubtype="org" meta.entityname="TCS" meta.hostid="268" meta.entityid="TCS">TCS</keyword> will work with Dr Kasturi Saha, Associate Professor in the Department of Electrical Engineering of IIT-Bombay to develop the tool. Semiconductor chips are an essential component of all modern electronic devices. These chips act as the brain of devices across industries such as communications, computing, healthcare, military systems, transportation, clean energy, and what not. Professor Saha said, "By working together, we aim to transform various sectors, including electronics and healthcare, and propel India forward through ground-breaking technologies and products aligned with National Quantum Mission's Quantum Sensing and Metrology vertical." Dr Harrick Vin, Chief Technology Officer, TCS, noted that the Second Quantum Revolution is progressing at an unprecedented speed, making it imperative to pool resources and expertise to build cutting-edge capabilities in sensing, computing, and communication technologies. "We firmly believe this initiative will have a transformative impact on various industries and society, with applications ranging from electronics to healthcare, and beyond. By working together, we can drive innovation and create a brighter future for all," said the CTO. National Quantum Mission, an initiative of the central government, aims to position the nation as a global quantum technology leader. As semiconductors continue to shrink in size, traditional sensing methods lack the precision and capabilities to detect anomalies in the chips, TCS asserted. The to-be-developed Quantum Diamond Microchip Imager can image magnetic fields, enabling a non-invasive and non-destructive mapping of semiconductor chips, much like an MRI at a hospital. It uses the defects in a diamond's structure, known as Nitrogen-Vacancy (NV) centers, together with the other hardware and software for detecting and characterizing anomalies in semiconductor chips. The semiconductor industry in India is still in a nascent stage, with various local and multinational companies intending to tap its vast potential. Union Minister for Communications and Electronics and IT, Ashwini Vaishnaw, earlier this year said, that by the end of 2024, India would witness the launch of the first indigenous semiconductor chip. Currently, four semiconductor units -- three in Gujarat and one in Assam -- are in under construction stage. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank">Samsung Galaxy F55 with leather back launched in India starting at ₹26,999</a><a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank">Lenovo LOQ 15 review – gaming laptop with a sturdy design</a>

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