Indian engineering firm MTAR Tech to file for IPO

MTAR Technologies, a Hyderabad-based precision engineering company, is planning to file its draft initial public offering (IPO) papers soon, said two people aware of the development.

The company, backed by Mathew Cyriac, the former India private equity co-head of Blackstone, develops and manufactures components and equipment for the defence, aerospace and nuclear energy sectors. MTAR was incorporated in 1970.

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