25-Jan-2024
2 mins read
Megatherm Induction Limited IPO 2024 is open for subscription from Monday, January 29, 2024 and will close on Wednesday, January 31, 2024. The price band is decided at Rs 100 to Rs 108 per share. The minimum lot size of this application for the retail category is 1200 shares. Whereas, the minimum lot size for HNI category is 2 lots consisting of 2400 shares. The minimum amount of investment required for retail category investors is Rs 1,29,600 (108 x 1200 shares). However for HNI category the minimum investment amount is required Rs 2,59,200 (108 x 2400 shares). Megatherm Induction Limited IPO 2024 is a book-built issue of Rs 53.91 crores. The issue is entirely a fresh issue of 42.92 lakh equity shares. The allotment for this IPO is expected to be finalized on Thursday, February 1, 2024. Megatherm Induction IPO will list on NSE SME and listing date fixed on Monday, February 5, 2024. The book running lead manager of Megatherm Induction Limited is Hem Securities Limited. The registrar for this IPO is Bigshare Services Private Limited. The market maker for the Megatherm Induction Limited IPO is Hem Finlease.
About Megatherm Induction Limited
Megatherm Induction Limited is a subsidiary of Megatherm Electronics Private Limited. It is engaged in a business of manufacturing induction heating and melting products. The company also manufactures upstream and downstream equipment. Also, the machinery for steel works such as transformers, ladle refining furnaces, continuous casting machines, fume extraction system etc. The company services portfolio includes turnkey solutions for steel plants which involves design, engineering, supply, commissioning of steel melt shops. The key market areas of company products are secondary steel producers involved in scrap recycling. It is a primary steel producers involved in conversion of iron ore into sponge iron and subsequent conversion into steel through induction meeting. The other key market areas are Auto ancillaries, Ordnance factories and Railways. Company’s manufacturing facility is equipped with the requisite infrastructure including machinery and testing laboratory and other handling equipment to facilitate a smooth manufacturing process. To ensure the efficiency of the products, the company has designed and established testing at the different levels of production. To ascertain the sustainability of their raw materials, they have an in-house testing laboratory. Megatherm Induction Limited exports its products to South America, Africa, Southeast Asia, the Gulf region and Europe.
Objectives of Megatherm Induction Limited IPO 2024
The objective of the IPO is to raise funds which will help the company for the smooth functioning of its business operations. Moreover, the net proceeds from the issue will be utilized to fund the capital expenditure for the construction of the factory shed. Also, the company is planning for installation of the additional plant and machinery. Furthermore, the funds raised from the issue will meet the working capital requirements and generate corporate purposes.
Financial Performance of Megatherm Limited
Megatherm Induction Limited’s revenue increased by 41.37% and profit after tax increased by 1171.94% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 21,040.28 | 19,197.87 | 17,262.76 | 14,645.06 |
| Revenue | 14,732.31 | 26,643.84 | 18,846.92 | 10,927.03 |
| Profit After Tax | 759.34 | 1,400.41 | 110.1 | 309.12 |
| Net Worth | 5,821.98 | 5,062.64 | 3,662.23 | 3,512.13 |
| Reserves and Surplus | 4,437.11 | 4,139.39 | 2,738.98 | 2,598.88 |
| Total Borrowing | 4,480.46 | 4,282.04 | 4,038.80 | 4,327.04 |
| Amt in Lakhs |
Other Important Details of Megatherm Limited IPO
| IPO Date | January 29, 2024 to January 31, 2024 |
| Listing Date | 5-Feb-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 100 to ₹108 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 4,992,000 shares (amounting to Rs 53.91 Cr) |
| Fresh Issue | 4,992,000 shares (amounting up to Rs 53.91 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 13,848,729 |
| Shareholding post issue | 18,840,729 |
| Market Maker portion | 250,800 shares Hem Finlease |
Lot Size of Megatherm Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1200 | Rs 1,29,600 |
| Retail (Max) | 1 | 1200 | Rs 1,29,600 |
| HNI (Min) | 2 | 2400 | Rs 2,59,200 |
IPO Reservation of Megatherm Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Promoters of Megatherm Limited IPO
The promoters of the company are Shesadri Bhusan Chanda, Satadri Chanda and Megatherm Electronics Private Limited.
Promoter Holdings of Megatherm Limited IPO 2024
| Shareholding Pre Issue | 98.92% |
| Shareholding Post Issue | 72.71% |
Time-Table of Megatherm Limited IPO 2024
| IPO Open Date | Monday, January 29, 2024 |
| IPO Close Date | Wednesday, January 31, 2024 |
| Basis of Allotment | Thursday, February 1, 2024 |
| Initiation of Refunds | Friday, February 2, 2024 |
| Credit of Shares to Demat | Friday, February 2, 2024 |
| Listing Date | Monday, February 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 31, 2024 |
Key Performance Indicator of Megatherm Limited IPO 2024
The market capitalization of Megatherm Limited Rs 203.48 crore.
| KPI | Values |
| ROE | 27.66% |
| ROCE | 27.47% |
| Debt/Equity | 1.67 |
| RoNW | 27.66% |
| P/BV | 2.95 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 10.11 | 8.06 |
| P/E (x) | 10.68 | 13.4 |
Lead Manager(s) of Megatherm Limited IPO 2024
The lead manager for Megatherm Limited IPO is Hem Securities Limited (Past IPO Performance)
How to Apply for Megatherm Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Megatherm Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Megatherm Limited IPO 2024
The registrar for Megatherm Limited IPO is Bigshare Services Private Limited. To check your allotment status, please click on this link below https://www.bigshareonline.com/ipo_Allotment.html
FAQs
- What is Megatherm Limited IPO 2024?
Megatherm Induction Limited IPO 2024 is a book-built issue of Rs 53.91 crores. The issue is entirely a fresh issue of 42.92 lakh equity shares. The price band is decided at Rs 100 to Rs 108 per share. The minimum lot size of this application for the retail category is 1200 shares. The allotment for this IPO is expected to be finalized on Thursday, February 1, 2024.
- Who are the lead managers for the Megatherm Limited IPO 2024?
Hem Securities Limited are appointed as the lead managers for the IPO.
- What is the role of Bigshare Services Private Limited in this IPO?
Bigshare Services Private Limited is the registrar for the Megatherm Limited handling the IPO’s administrative aspects.
- How can I apply for the Megatherm Limited IPO 2024?
The public subscription of this IPO has already begun. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net proceeds from the issue will be utilized to fund the capital expenditure for the construction of the factory shed. Also, the company is planning for installation of the additional plant and machinery.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Megatherm Limited IPO 2024 by visitinghttps://www.bigshareonline.com/ipo_Allotment.html
- What is the financial performance of Megatherm Limited?
Megatherm Induction Limited’s revenue increased by 41.37% and profit after tax increased by 1171.94% between the financial year ending with March 31, 2023 and March 31, 2022.