Kolkata (West Bengal) [India], January 24: Megatherm Induction Limited Incorporated in 2010 specializes in the manufacture of induction heating and melting products using electrical induction such as induction melting furnaces and induction heating equipment. The company is going to become public as it has announced to raise Rs 53.91 crores via an initial public offering (IPO) by issuing entirely a fresh issue of 49.92 lakh shares.
For its SME Initial Public Offering (IPO), MegathermInduction Limited has established a price band of Rs 100 to Rs 108 per share. The company’s shares will be listed on the NSE Emerge, with a projected listing date of Monday, February 05, 2024.
Hem Securities Limited is the book running lead manager of Megatherm Induction Ltd IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
The issue proceeds will be utilized in funding capital expenditure towards construction of factory shed and installation of additional plant and machinery, to meet working capital requirements and general corporate purposes.
On Thursday, February 1st, 2024, the shares for the Megatherm Induction IPO are anticipated to be allotted, and on Friday, February 2nd, 2024, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.
Retail investors need to contribute a minimum of Rs 1.296lakh considering the minimum lot size for an application is 1200 shares. For HNIs, the minimum bidding size is two lots, or 2400 shares, for a total investment of Rs 2.592 lakh.
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