Ex-Blackstone India Exec Hunts for Next Star in IPO Market (1)

Mathew Cyriac is looking to take at least two companies public in India in the coming years after MTAR Technologies Pvt.’s debut success.

MTAR Technologies, a precision engineering firm that Cyriac bought from Blackstone Group Inc. in 2017 when he left the private equity firm, has seen shares risen almost 62% since its March debut. The listing is part of India’s red-hot initial public offerings market where companies have raised about $4 billion since the start of the year, on track for the busiest first-half since 2017, according to data compiled by Bloomberg. UBS Group AG expects a record ...