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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 ₹108.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,20,000 (1200 shares). The minimum lot size investment for 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 Date | January 29, 2024 to January 31, 2024 |
| Listing Date | February 5, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹100 to ₹108 per share |
| Issue Price Final | ₹108 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 49,92,000 shares (aggregating up to ₹53.91 Cr) |
| Reserved for Market Maker | 2,50,800 shares Hem Finlease Pvt.Ltd. (aggregating up to ₹2.71 Cr) |
| Net Offered to Public | 47,41,200 shares (aggregating up to ₹51.20 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,38,48,729 shares |
| Share Holding Post Issue | 1,88,40,729 shares |
Megatherm Induction IPO offers total 49,92,000 shares. Out of which 23,70,000 (47.48%) allocated to QIB, 9,48,000 (18.99%) allocated to QIB, 7,11,600 (14.25%) allocated to NII, 16,59,600 (33.25%) allocated to RII and 14,22,000 (28.49%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,50,800 (5.02%) |
| QIB Shares Offered | 23,70,000 (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 (14.25%) |
| Retail Shares Offered | 16,59,600 (33.25%) |
| Total Shares Offered | 49,92,000 (100.00%) |
Megatherm Induction IPO raises ₹15.36 crore from anchor investors. Megatherm Induction IPO Anchor bid date is January 25, 2024. Megatherm Induction IPO Anchor Investors list
| Bid Date | January 25, 2024 |
| Shares Offered | 14,22,000 |
| Anchor Portion Size (In Cr.) | 15.36 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 2, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 1, 2024 |
Megatherm Induction IPO opens on January 29, 2024, and closes on January 31, 2024.
| IPO Open Date | Mon, Jan 29, 2024 |
| IPO Close Date | Wed, Jan 31, 2024 |
| Tentative Allotment | Thu, Feb 1, 2024 |
| Initiation of Refunds | Fri, Feb 2, 2024 |
| Credit of Shares to Demat | Fri, Feb 2, 2024 |
| Tentative Listing Date | Mon, Feb 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Jan 31, 2024 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
Megatherm Induction Limited's revenue increased by 41.37% and profit after tax (PAT) rose by 1171.94% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 21,040.28 | 19,197.87 | 17,262.76 | 14,645.06 |
| Total Income | 14,732.31 | 26,643.84 | 18,846.92 | 10,927.03 |
| Profit After Tax | 759.34 | 1,400.41 | 110.10 | 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 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Megatherm Induction IPO is ₹203.48 Cr.
| KPI | Values |
|---|---|
| ROE | 27.66% |
| ROCE | 27.47% |
| Debt/Equity | 1.67 |
| RoNW | 27.66% |
| Price to Book Value | 2.95 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 10.11 | 8.06 |
| P/E (x) | 10.68 | 13.4 |
The company intends to utilize the proceeds of the Issue to meet the following objects:
[Dilip Davda] The company is engaged in manufacturing and marketing of induction heating and melting products and related services. It marked growth in its top lines for the reported periods, but bottom line posted fluctuating pattern. In fact, the sudden boost in its bottom lines for the last 18 months’ not only raises eyebrows, but also the concern over its sustainability. Based on its annualized boosted earnings, the issue appears fully priced. Well-informed investors may park funds for the medium term. Read detail review...
| Listing Date | February 5, 2024 |
| BSE Script Code | |
| NSE Symbol | MEGATHERM |
| ISIN | INE531R01010 |
| Final Issue Price | ₹108 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹108.00 |
| Open | ₹198.00 |
| Low | ₹195.00 |
| High | ₹207.90 |
| Last Trade | ₹207.90 |
Megatherm Induction Ltd.
Plot - L1 Block GP, Sector V,
Electronics Complex,
Saltlake City
Kolkata, West Bengal, 700091
Phone: +91 33 4088 6200
Email: cs@megatherm.com
Website: http://www.megatherm.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Megatherm Induction IPO is a SME IPO of 49,92,000 equity shares of the face value of ₹10 aggregating up to ₹53.91 Crores. The issue is priced at ₹108 per share. The minimum order quantity is 1200.
The IPO opens on January 29, 2024, and closes on January 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 January 29, 2024 and closes on January 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 Friday, February 2, 2024. Check the Megatherm Induction IPO allotment status.
The Megatherm Induction IPO listing date is on Monday, February 5, 2024.
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