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United Heat Transfer IPO is a book build issue of ₹30.00 crores. The issue is entirely a fresh issue of 0.51 crore shares of ₹30.00 crore.
United Heat Transfer IPO bidding started from Oct 22, 2024 and ended on Oct 24, 2024. The allotment for United Heat Transfer IPO was finalized on Oct 25, 2024. The shares got listed on NSE SME on Oct 29, 2024.
United Heat Transfer IPO price band is set at ₹59.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,12,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,36,000.
Swastika Investmart Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The market maker of the company is Swastika Investmart Ltd..
Refer to United Heat Transfer IPO RHP for detailed Information.
| IPO Date | October 22, 2024 to October 24, 2024 |
| Listing Date | October 29, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹56 to ₹59 per share |
| Issue Price Final | ₹59 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 50,84,000 shares (aggregating up to ₹30.00 Cr) |
| Reserved for Market Maker | 2,56,000 shares Swastika Investmart Ltd. (aggregating up to ₹1.51 Cr) |
| Net Offered to Public | 48,28,000 shares (aggregating up to ₹28.49 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,39,20,000 shares |
| Share Holding Post Issue | 1,90,04,000 shares |
United Heat Transfer IPO offers total 50,84,000 shares. Out of which 24,08,000 (47.36%) allocated to QIB, 9,74,000 (19.16%) allocated to QIB, 7,28,000 (14.32%) allocated to NII, 16,92,000 (33.28%) allocated to RII and 14,34,000 (28.21%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,56,000 (5.04%) |
| QIB Shares Offered | 24,08,000 (47.36%) |
| − Anchor Investor Shares Offered | 14,34,000 (28.21%) |
| − QIB (Ex. Anchor) Shares Offered | 9,74,000 (19.16%) |
| NII (HNI) Shares Offered | 7,28,000 (14.32%) |
| Retail Shares Offered | 16,92,000 (33.28%) |
| Total Shares Offered | 50,84,000 (100.00%) |
United Heat Transfer IPO raises ₹8.46 crore from anchor investors. United Heat Transfer IPO Anchor bid date is October 21, 2024. United Heat Transfer IPO Anchor Investors list
| Bid Date | October 21, 2024 |
| Shares Offered | 14,34,000 |
| Anchor Portion Size (In Cr.) | 8.46 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 23, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 22, 2025 |
United Heat Transfer IPO opens on October 22, 2024, and closes on October 24, 2024.
| IPO Open Date | Tue, Oct 22, 2024 |
| IPO Close Date | Thu, Oct 24, 2024 |
| Tentative Allotment | Fri, Oct 25, 2024 |
| Initiation of Refunds | Mon, Oct 28, 2024 |
| Credit of Shares to Demat | Mon, Oct 28, 2024 |
| Tentative Listing Date | Tue, Oct 29, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Oct 24, 2024 |
Investors can bid for a minimum of 2,000 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 | 2,000 | ₹1,18,000 |
| Retail (Max) | 1 | 2,000 | ₹1,18,000 |
| HNI (Min) | 2 | 4,000 | ₹2,36,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in January 1995, United Heat Transfers Limited manufactures essential equipment such as heat exchangers, pressure vessels, and process flow skids. The company's products are used in petrol and diesel engines, maritime vessels, mining trucks, and heavy machinery, among other applications.
The company operates two manufacturing units in Nashik, equipped with modern infrastructure, including advanced technology and machinery that enhance productivity and efficiency.
As of July 31, 2024, the Company employs approximately 105 employees at various levels on its payroll, and 127 employees on a contractual basis.
Competitive Strength
United Heat Transfer Limited's revenue decreased by -9% and profit after tax (PAT) rose by 195% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Jul 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 7,230.03 | 7,046.67 | 6,481.52 | 6,262.36 |
| Total Income | 2,120.01 | 6,409.55 | 7,040.15 | 4,796.11 |
| Profit After Tax | 242.53 | 623.85 | 211.54 | 152.67 |
| Net Worth | 2,865.24 | 2,037.71 | 1,413.86 | 1,202.32 |
| Reserves and Surplus | 1,473.24 | 762.71 | 988.86 | 777.32 |
| Total Borrowing | 3,202.13 | 3,692.18 | 3,295.18 | 3,761.47 |
| Amount in ₹ Lakhs | ||||
The market capitalization of United Heat Transfer IPO is ₹112.12 Cr.
KPI as of Wed, Jul 31, 2024.
| KPI | Values |
|---|---|
| ROE | 8.46% |
| ROCE | 10.79% |
| Debt/Equity | 1.12 |
| RoNW | 8.46% |
| PAT Margin | 11.44% |
| Price to Book Value | 3.69 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 4.48 | 3.83 |
| P/E (x) | 13.16 | 15.41 |
The Issue Proceeds from the Fresh Issue will be utilized towards the following objects:
[Dilip Davda] The company is engaged in the business of various types of industrial/automotive heat exchangers manufacturing and marketing. While it marked inconsistency in its top lines for the reported periods, quantum jump in bottom lines from FY24 onwards raises eyebrows and remains concern. Based on FY25 annualized super earnings, the issue appears fully priced. It is operating in a highly competitive and fragmented segment. Well-informed investors may park moderate funds for long term. Read detail review...
| Listing Date | October 29, 2024 |
| BSE Script Code | |
| NSE Symbol | UHTL |
| ISIN | INE0SMR01011 |
| Final Issue Price | ₹59 per share |
| NSE Listing Group | ST (Trade to Trade) |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹59.00 |
| Open | ₹60.95 |
| Low | ₹57.95 |
| High | ₹63.95 |
| Last Trade | ₹63.95 |
United Heat Transfer Ltd.
Plot No F-131,
MIDC Area
Ambad
Nashik, Maharashtra, 422010
Phone: +91 25323 82484
Email: company.secretary@unitedheat.net
Website: https://unitedheat.net/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: merchantbanking@swastika.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
United Heat Transfer IPO is a SME IPO of 50,84,000 equity shares of the face value of ₹10 aggregating up to ₹30.00 Crores. The issue is priced at ₹59 per share. The minimum order quantity is 2000.
The IPO opens on October 22, 2024, and closes on October 24, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in United Heat Transfer IPO using UPI as a payment gateway. Zerodha customers can apply in United Heat Transfer IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in United Heat Transfer IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The United Heat Transfer IPO opens on October 22, 2024 and closes on October 24, 2024.
United Heat Transfer IPO lot size is 2000, and the minimum amount required for application is ₹1,18,000.
You can apply in United Heat Transfer 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 United Heat Transfer IPO will be done on Friday, October 25, 2024, and the allotted shares will be credited to your demat account by Monday, October 28, 2024. Check the United Heat Transfer IPO allotment status.
The United Heat Transfer IPO listing date is on Tuesday, October 29, 2024.
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