Megatherm Induction IPO opens today: See price band and other details

Megatherm Induction IPO: Here's everything you need to know about Megatherm Induction IPO

Published on: Jan 29, 2024, 09:32:07 IST

By HT News Desk

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Megatherm Induction initial public offering (IPO) will open for subscription today- January 29- and will close on January 31. The small and medium enterprises (SME) IPO by the induction heating equipment maker is a book built issue of ₹53.91 crores and is entirely a fresh issue of 49.92 lakh shares. Here's everything you need to know about Megatherm Induction IPO:

Megatherm Induction IPO: The IPO is a book built issue of ₹53.91 crores and is entirely a fresh issue of 49.92 lakh shares.

What is the price band and minimum lot size?

The price band is set at ₹100 to ₹108 per share while the minimum lot size for an application is 1200 shares. The minimum amount of investment required by retail investors is ₹129,600 and the minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹259,200.

2. Who are the promoters of the company?

Shesadri Bhusan Chanda, Satadri Chanda and Megatherm Electronics Private Limited are the promoters of the company.

3. Who is the book running lead manager of the Megatherm Induction IPO?

4. When will the allotment be finalised?

The allotment for the Megatherm Induction IPO is expected to be finalized on Thursday, February 1 and the IPO will list on NSE SME with tentative listing date fixed as February 5.

5. What you need to know about the company?

The company raised ₹15.36 crore from anchor investors on January 25. Megatherm Induction Limited manufactures induction heating and melting products using electrical induction. These include induction melting furnaces and induction heating equipment. The company was incorporated in 2010 and is a subsidiary of Megatherm Electronics Private Limited.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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