Megatherm Induction Limited IPO
- IPO Date29 Jan, 2024 to 31 Jan, 2024
- Listing Date05 Feb, 2024
- Face Value₹10 per share
- Issue Price₹100 to ₹108 per share
- Lot Size1200 Shares
- Minimum Investment₹1,29,600
- Listing AtNSE SME
- Total Issue Size49,92,000 Shares
(aggregating up to ₹53.91 Cr) - Fresh Issue49,92,000 Shares
(aggregating up to ₹53.91 Cr)
- Offer for Sale-
- Issue TypeBook Built Issue IPO
- Share holding pre issue1,38,48,729
- Shareholding post issue1,88,40,729
IPO Dates
Closing Date
31 Jan, 2024
Initiation of Refunds
02 Feb, 2024
Listing Date
05 Feb, 2024
29 Jan, 2024
Opening Date
01 Feb, 2024
Basis of Allotment
02 Feb, 2024
Credit of Shares
Megatherm Induction Limited Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹1,29,600 |
| Retail (Max) | 1 | 1200 | ₹1,29,600 |
| HNI (Min) | 2 | 2400 | ₹2,59,200 |
Megatherm Induction Limited Promoter Holding
Shesadri Bhusan Chanda, Satadri Chanda and Megatherm Electronics Private Limited are the promoters of the company.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 98.92% | 72.71% |
Megatherm Induction Limited COMPANY INFORMATION
Megatherm Induction IPO is a book built issue of Rs 53.91 crores. The issue is entirely a fresh issue of 49.92 lakh shares. Megatherm Induction IPO bidding started from January 29, 2024 and ended on January 31, 2024. The allotment for Megatherm Induction IPO was finalized on Thursday, February 1, 2024. The shares got listed on NSE SME on February 5, 2024. Megatherm Induction IPO price band is set at ₹100 to ₹108 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹129,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹259,200. Hem Securities Limited is the book running lead manager of the Megatherm Induction IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Megatherm Induction IPO is Hem Finlease. Refer to Megatherm Induction IPO RHP for detailed information.
Incorporated in 2010, Megatherm Induction Limited manufactures induction heating and melting products using electrical induction such as induction melting furnaces and induction heating equipment. Megatherm Induction is a subsidiary of Megatherm Electronics Private Limited.
The company also manufactures upstream and downstream equipment and machinery for steelworks, such as transformers, ladle refining furnaces, continuous casting machines, fume extraction systems, etc., as well as electric arc furnaces for the alloy and special steel industry.
The company also offers turnkey solutions for steel plants, which include the planning, engineering, delivery, assembly and commissioning of steel plants with its own or outsourced systems and machines, as well as customer service with maintenance contracts and spare parts business.
Megatherm's key market segments are Secondary steel producers that recycle scrap, primary steel producers that convert iron ore into sponge iron and then convert it into steel through induction melting, automotive suppliers, Ordnance factories and railroads, DI pipe manufacturers, and various engineering industries that produce critical parts in their own casting, forging and metal processing facilities.
Megatherm Induction's manufacturing unit is located in Kharagpur and has a production capacity of around 300 furnaces and transformers (as of March 31, 2023).
The company exports products to South America, Africa, the Gulf region, Europe, SAARC and Southeast Asia.
As at July 31, 2023, the company had 285 permanent employees.
FAQs About Megatherm Induction Limited Ipo
Megatherm Induction Limited IPO will open on 29 Jan, 2024 and close on 31 Jan, 2024. Investors must apply within this period to participate.
The Megatherm Induction Limited IPO price band is set between ₹100.00 and ₹108.00 per share. The minimum lot size is 1200, requiring an investment of at least ₹129600.00.
The Megatherm Induction Limited IPO shares are expected to be listed on 05 Feb, 2024, subject to regulatory approvals and final allotment.
You can track your Megatherm Induction Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Megatherm Induction Limited IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.