Indian defense is a sunrise industry given the impetus of the Prime Minister to substitute several years of import reliance with domestic manufacturing. The attractiveness of the sector has further increased as the Government has also opened up the sector for private companies to participate in the growth story and compete for big ticket orders. Besides, progressive easing of FDI norms from 26% to 74% under the automatic route has further increased attractiveness of the sector In the quest for ‘Atmanirbhar Bharat’, defense manufacturing is going to be of utmost priority, and to augment capabilities and technology, Indian firms need access to capital – both equity and debt. One such company which is soon going to debut on the bourses is Hyderabad Based M-Tar Technologies. It is one of the many recent IPOs from this sector - and the first from the private sector in a while. The company is into precision engineering and serves a diversified clientele including the DRDO, ISRO, Nuclea