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Megatherm Induction IPO is a book built issue of Rs 53.91 crores. The issue is entirely a fresh issue of 49.92 lakh shares.
Megatherm Induction IPO bidding started from January 29, 2024 and ended on January 31, 2024. The allotment for Megatherm Induction IPO was finalized on Thursday, February 1, 2024. The shares got listed on NSE SME on February 5, 2024.
Megatherm Induction IPO 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.
Hem Securities Limited is the book running lead manager of the Megatherm Induction IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Megatherm Induction IPO is Hem Finlease.
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 |
| 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 Hem Finlease |
Megatherm Induction IPO offers 4,992,000 shares. 948,000 (18.99%) to QIB, 711,600 (14.25%) to NII, 1,659,600 (33.25%) to RII and 1,422,000 (28.49%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,422,000 (28.49%) |
| Market Maker Shares Offered | 250,800 (5.02%) |
| QIB Shares Offered | 948,000 (18.99%) |
| NII (HNI) Shares Offered | 711,600 (14.25%) |
| Retail Shares Offered | 1,659,600 (33.25%) |
| Total Shares Offered | 4,992,000 (100%) |
Megatherm Induction IPO raises Rs 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 | 1,422,000 |
| 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 | 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 |
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹129,600 |
| Retail (Max) | 1 | 1200 | ₹129,600 |
| HNI (Min) | 2 | 2,400 | ₹259,200 |
| Lot Size Calculator | |||
Shesadri Bhusan Chanda, Satadri Chanda and Megatherm Electronics Private Limited are the promoters of the company.
| Share Holding Pre Issue | 98.92% |
| Share Holding Post Issue | 72.71% |
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 |
| Revenue | 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 Rs 203.48 Cr.
| 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 |
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...
The Megatherm Induction IPO is subscribed 196.11 times on January 31, 2024 7:30:00 PM. 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) |
|---|---|
| QIB | 105.14 |
| NII | 307.04 |
| Retail | 200.51 |
| Total | 196.11 |
Total Application : 277,304 (200.51 times)
| Listing Date | February 5, 2024 |
| BSE Script Code | |
| NSE Symbol | MEGATHERM |
| ISIN | INE531R01010 |
| Final Issue Price | ₹108 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹108.00 |
| ₹198.00 |
| ₹195.00 |
| ₹207.90 |
| ₹207.90 |
Megatherm Induction Limited
Plot - L1 Block GP, Sector V,
Electronics Complex, Saltlake City
Kolkata - 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
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Megatherm Induction IPO is a SME IPO of 4,992,000 equity shares of the face value of ₹10 aggregating up to ₹53.91 Crores. The issue is priced at ₹100 to ₹108 per share. The minimum order quantity is 1200 Shares.
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 Shares, and the minimum amount required is ₹129,600.
You can apply in Megatherm Induction IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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