MTE Structures Files DRHP for IPO; Plans Fresh Issue and Offer for Sale on BSE SME

Vadodara, November 3: MTE Structures IPO will be launched soon as the company announced that it has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India. The MTE Structures IPO will include a fresh issue of up to 37.06 lakh equity shares and an offer for sale (OFS) of up to 6.54 lakh equity shares. Hence, MTE Structures IPO total issue size will be 43.60 lakh shares of face value ₹10 each.

MTE Structures is an Indian company that manufactures solar module mounting structures. The company was established in 2020, and is headquartered in Vadodara, Gujarat.

Key Details About MTE Structures IPO

MTE Structures IPO is a combination of a fresh issue and an offer for sale. The shares will list on the BSE SME. GYR Capital Advisors Pvt Ltd is the book-running lead manager, while MUFG Intime India Pvt Ltd is the registrar of the issue. The company will announce other key details such as price band, minimum investment, share allocation date, etc, in due time.

MTE Structures IPO Promoters Details

Under the OFS, Hiren Arvindbhai Patel will sell up to 2,18,000 shares, Janak Bharat Amin will sell up to 2,18,000 shares, and Tejaskumar Patel will sell up to 2,18,000 shares.

Utilisation of Proceeds

MTE Structures announced that it will use up to ₹400 million from the IPO proceeds for funding working capital requirements, and the balance amount for general corporate purposes.

What’s Ahead For MTE Structures IPO

MTE Structures has filed its DRHP with SEBI, where it will offer up to 43,60,000 shares to retail and other investors. Since the IPO is in its initial stages, more information about the MTE Structures IPO is awaited by investors. The listing of MTE Structures’ shares on BSE SME will provide the company with visibility and improve its investor participation.

REF: https://www.bsesme.com/download/366087/SME_IPO InPrinciple/MTE_DRHP_BSE_Final_20251031204428.pdf

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