Bookbuilding IPO | ₹54 Cr | Listed at NSE SME | Mon, Jan 29, 2024 - Wed, Jan 31, 2024
Megatherm Induction IPO is a book build issue of ₹53.91 crores. The issue is entirely a fresh issue of 0.50 crore shares of ₹53.91 crore.
Megatherm Induction IPO bidding started from Jan 29, 2024 and ended on Jan 31, 2024. The allotment for Megatherm Induction IPO was finalized on Feb 1, 2024. The shares got listed on NSE SME on Feb 5, 2024.
Megatherm Induction IPO price band is set at ₹108 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,29,600 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,59,200.
Hem Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Megatherm Induction IPO RHP for detailed Information.
IPO Open
Mon, Jan 29, 2024
IPO Close
Wed, Jan 31, 2024
Issue Price
₹108 per share
Market Cap (Pre-IPO)
₹203.48 Cr
| IPO Date | 29 to 31 Jan, 2024 |
| Listed on | Mon, Feb 5, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹108 |
| Issue Price | ₹108 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 49,92,000 shares (agg. up to ₹54 Cr) |
| Reserved for Market Maker | 2,50,800 shares Hem Finlease Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 47,41,200 shares (agg. up to ₹51 Cr) |
| Net Offered to Public | 47,41,200 shares (agg. up to ₹51 Cr) |
| Share Holding Pre Issue | 1,38,48,729 shares |
| Share Holding Post Issue | 1,88,40,729 shares |
| NSE Symbol | MEGATHERM |
| ISIN | INE531R01010 |
Megatherm Induction IPO comprises a total issue size of 49,92,000 shares. The net offer to the public is 47,41,200 shares, after excluding 2,50,800 shares allotted on a firm basis. Of the Net offer 23,70,000 (49.99%) are allocated to QIB, 7,11,600 (15.01%) allocated to NII 16,59,600 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 23,70,000 | 49.99% | 47.48% |
| − Anchor Investor Shares Offered | 14,22,000 | 28.49% | |
| − QIB (Ex. Anchor) Shares Offered | 9,48,000 | 18.99% | |
| NII (HNI) Shares Offered | 7,11,600 | 15.01% | 14.25% |
| Retail Shares Offered | 16,59,600 | 35.00% | 33.25% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,50,800 | 5.02% | |
| Total Shares Offered | 49,92,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,29,600 |
| Retail (Max) | 1 | 1,200 | ₹1,29,600 |
| HNI (Min) | 2 | 2,400 | ₹2,59,200 |
Megatherm Induction IPO raises ₹15.36 crore from anchor investors. Megatherm Induction IPO Anchor bid date is January 25, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Jan 25, 2024 |
| Shares Offered | 14,22,000 |
| Anchor Portion (₹ Cr.) | 15.36 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Mar 2, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, May 1, 2024 |
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.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 210.40 | 191.98 | 172.63 | 146.45 |
| Total Income | 147.32 | 266.44 | 188.47 | 109.27 |
| Profit After Tax | 7.59 | 14.00 | 1.10 | 3.09 |
| NET Worth | 58.22 | 50.63 | 36.62 | 35.12 |
| Reserves and Surplus | 44.37 | 41.39 | 27.39 | 25.99 |
| Total Borrowing | 44.80 | 42.82 | 40.39 | 43.27 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure towards construction of factory shed and installation of additional plant and machinery | 14.90 |
| 2 | To meet Working Capital requirements | 26.00 |
| 3 | General Corporate Purpose | 7.25 |
| KPI | |
|---|---|
| ROE | 27.66% |
| ROCE | 27.47% |
| Debt/Equity | 1.67 |
| RoNW | 27.66% |
| PAT Margin | 5.27% |
| Price to Book Value | 2.95 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.11 | 8.06 |
| P/E (x) | 10.68 | 13.4 |
| Promoter Holding | 98.92% | 72.71% |
| Market Cap | ₹203.48 Cr. |
The Megatherm Induction IPO is subscribed 196.11 times on January 31, 2024 7:30:00 PM (Day 3). The public issue subscribed 200.51 times in the retail category, 105.14 times in the QIB category, and 307.04 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 105.14 | 9,48,000 | 9,96,75,600 |
| NII* | 307.04 | 7,11,600 | 21,84,88,800 |
| Retail | 200.51 | 16,59,600 | 33,27,64,800 |
| Total | 196.11 | 33,19,200 | 65,09,29,200 |
Total Application : 2,77,304
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees | 0.23 |
| 2 | Fees Payable to Registrar to the Issue | 0.03 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.44 |
| 4 | Fees Payable to Regulators including Stock Exchange | 0.06 |
| 5 | Fees payable to Underwriting | 0.54 |
| 6 | Payment for Printing & Stationery, Postage, etc. | 0.03 |
| 7 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.27 |
| 8 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees and Miscellaneous Expenses) | 4.17 |
| Total | 5.76 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹108.00 |
| Open | ₹198.00 |
| Low | ₹195.00 |
| High | ₹207.90 |
| Last Trade | ₹207.90 |
Lead Manager Reports
Megatherm Induction IPO is a SME IPO of 49,92,000 equity shares of the face value of ₹10 aggregating up to ₹54 Crores. The issue is priced at ₹108 per share. The minimum order quantity is 1200.
The IPO opens on Mon, Jan 29, 2024, and closes on Wed, Jan 31, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Megatherm Induction IPO using UPI as a payment gateway. Zerodha customers can apply in Megatherm Induction IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Megatherm Induction IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Megatherm Induction IPO opens on Mon, Jan 29, 2024 and closes on Wed, Jan 31, 2024.
Megatherm Induction IPO lot size is 1200, and the minimum amount required for application is ₹1,29,600.
You can apply in Megatherm Induction IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Megatherm Induction IPO will be done on Thursday, February 1, 2024, and the allotted shares will be credited to your demat account by Fri, Feb 2, 2024. Check the Megatherm Induction IPO allotment status.
The Megatherm Induction IPO listing date is on Mon, Feb 5, 2024.
