The Megatherm Induction date has been confirmed from January 29, 2024 and closes on January 31, 2024.
Megatherm Induction Developers IPO is a fixed price issue of Rs 53.91 crores. The 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.
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Bidding Dates
Jan 29-31
Price Range
₹100 to ₹108 per share
Face Value
₹10 per share
GMP
₹110
Megatherm Induction IPO GMP
The Megatherm Induction IPO GMP is ₹110.
IPO Overview
Megatherm Induction IPO is a book-built issuance worth Rs 53.91 crore. The issue is wholly new, with 49.92 lakh shares issued. Megatherm Induction’s initial public offering (IPO) will be available for subscription on January 25, 2024 and close on January 30, 2024. The Megatherm Induction IPO allotment is expected to be finalised on Wednesday, January 31, 2024. Megatherm Induction IPO will be listed on NSE SME, with a tentative listing date of Friday, February 2, 2024. Megatherm Induction’s IPO pricing range is set at ₹100 to ₹108 per share. The minimum lot size for an application is 1200 Shares. The minimum investment for retail investors is ₹129,600. The minimum investment for HNI is 2 lots (2,400 shares) worth ₹259,200.
Megatherm Induction’s IPO pricing range is set at ₹100 to ₹108 per share. The minimum lot size for an application is 1200 Shares. The minimum investment for retail investors is ₹129,600. The minimum investment for HNI is 2 lots (2,400 shares) worth ₹259,200.
Megatherm Induction IPO Details
| IPO Date | January 25, 2024 to January 30, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹108 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 4,992,000 shares (aggregating up to ₹53.91 Cr) |
| Fresh Issue | 4,992,000 shares (aggregating up to ₹53.91 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 13,848,729 |
| Share holding post issue | 18,840,729 |
| Market Maker portion | 250,800 shares |
Megatherm Induction Limited Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 19,197.87 | 17,262.76 | 14,645.06 |
| Revenue | 26,643.84 | 18,846.92 | 10,927.03 |
| Profit After Tax | 1,400.41 | 110.10 | 309.12 |
| Net Worth | 5,062.64 | 3,662.23 | 3,512.13 |
| Reserves and Surplus | 4,139.39 | 2,738.98 | 2,598.88 |
| Total Borrowing | 4,282.04 | 4,038.80 | 4,327.04 |
| Amount in ₹ Lakhs | |||
Megatherm Induction IPO Timeline
| IPO Open Date | Thursday, January 25, 2024 |
| IPO Close Date | Tuesday, January 30, 2024 |
| Basis of Allotment | Wednesday, January 31, 2024 |
| Initiation of Refunds | Thursday, February 1, 2024 |
| Credit of Shares to Demat | Thursday, February 1, 2024 |
| Listing Date | Friday, February 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 30, 2024 |
Company Profile
Megatherm Induction Limited, founded in 2010, manufactures induction heating and melting products employing electrical induction, including induction melting furnaces and induction heating equipment. Megatherm Induction is a division of Megatherm Electronics Private Limited. Transformers, ladle refining furnaces, continuous casting machines, fume extraction systems, and electric arc furnaces for the alloy and special steel industries are among the products manufactured by the business. The company also provides turnkey solutions for steel
plants, which include planning, engineering, delivery, assembly, and commissioning of steel plants using its own or outsourced systems and machines, as well as client servicing through maintenance contracts and spare parts sales. Megatherm’s key market segments include secondary steel producers who recycle scrap, primary steel producers who convert iron ore into sponge iron and then into steel via induction melting, automotive suppliers, ordnance factories and railroads, DI pipe manufacturers, and various engineering industries that manufacture critical parts in their own casting, forging, and metal processing facilities. Megatherm Induction’s manufacturing facility is in Kharagpur and can produce approximately 300 furnaces and transformers (as of March 31, 2023). The company exports goods to South America, Africa, the Gulf area, Europe, SAARC, and Southeast Asia. As of July 31, 2023, the company employed 285 permanent employees.
Registrar Info
| Name | Bigshare Services Pvt Ltd |
| Phone number | +91-22-6263 8200 |
| Email ID | ipo@bigshareonline.com |
| Website | ipo.bigshareonline.com |
Contact Details
| Name | Megatherm Induction Limited |
| Phone number | +91 33 4088 6200 |
| Email ID | cs@megatherm.com |
| Website | megatherm.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
