Megatherm Induction Limited IPO is set to launch on 29 January, 2023. The company initiated its business operations in the year 2010. It manufactures induction heating and melting products with the help of electrical induction like induction heating equipment and induction melting furnaces. The products manufactured by the comedy include ladle refining furnaces, transformers, fume extraction systems, continuous casting machines etc. Its key market segment lies in Secondary steel producers that recycle scrap and convert it into other ready products. The Company’s manufacturing unit is located at Kharagpur and it exports its products to Africa, South America, Europe, Southeast Asia, SAARC etc. It has 285 employees currently.
Megatherm Induction Limited IPO DETAILS
Megatherm Induction Limited IPO is set to launch on 29 January, 2023. The subscription timeline extends till 31 January, 2023. The size for the IPO is 53.91 Crore Rs. Shares issued through fresh issue mode are worth Rs 53.91 Crore. No shares are issued through offer for sale mode. The lot size is 1200 shares and the price is 100 Rs to 108 Rs per share. The company is going to get listed at NSE SME. The face value per share is Rs.10 and this is a Book Built Issue. The registrar for the company is BigShare Services Private Limited.
Tabular Description of Megatherm Induction Limited IPO
| IPO OPENING DATE | 29 January, 2023 |
| CLOSING DATE FOR IPO | 31 January, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 100 Rs to 108 Rs per share |
| LOT SIZE | 1200 shares |
| MINIMUM ORDER QUANTITY | 1200 shares |
| ISSUE SIZE | 53.91 Crore Rs. |
| OFFER FOR SALE | No shares are issued through offer for sale mode |
| FRESH ISSUE | 53.91 Crore Rs. |
| LISTING AT | NSE SME |
| LISTING DATE | 5 February, 2023 |
Megatherm Induction Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 29 January, 2023 |
| CLOSING DATE FOR IPO | 31 January, 2023 |
| IPO ALLOTMENT DATE | 1 February, 2023 |
| REFUNDS | 2 February, 2023 |
| DEMAT A/C CREDITED ON | 2 February, 2023 |
| IPO LISTING DATE | 5 February, 2023 |
Megatherm Induction Limited IPO begins for subscription from 29 January 2023. The IPO subscription would continue till 31 January, 2023. The allotment status for the shareholders who applied would come on 1 February, 2023. The refunds for the ones who did not get allotment would be initiated on 2 February, 2023. The DEMAT accounts of shareholders would be credited on 2 February, 2023. The listing of the company would be completed on 5 February, 2023.
Megatherm Induction Limited IPO : Lead Managers
The lead managers are :
- Hem Securities Limited
The minimum lot size for the company is decided at 1200 shares. This holding accounts to 129600 Rs.. The maximum lot size is decided at 2400 shares (HNI). This amounts to 259200 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 1200 shares | 129600 Rs. |
| Maximum | 2400 shares | 259200 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Lakh Rs.) | 2020-21 | 2021-22 | 2022-23 |
| Asset | 14645 | 17262 | 19197 |
| Revenue | 10927 | 18846 | 26643 |
| PAT | 309 | 110 | 1400 |
Megatherm Induction Limited had an asset base of 14645 Lakh Rs in 2021. This increased to 17262 Lakh Rs in 2022. The asset base for the year 2023 was 19197 Lakh Rs. The revenue of the company was 10927 lakh Rs in 2021. This increased to 18846 lakh Rs in 2022 and 26643 Lakh Rs in 2023. The company’s profit for the year 2021 was 309 Lakh Rs. However in the year 2022 the company’s profit declined to 110 lakh Rs. In the year 2023 the profit of the firm again increased by more than 13 times in comparison to 2022’s profit to 1400 Lakh Rs.
PROS
- The products manufactured by the comedy include ladle refining furnaces, transformers, fume extraction systems, continuous casting machines etc.
- Its key market segment lies in Secondary steel producers that recycle scrap and convert it into other ready products.
- The company’s manufacturing unit is located at Kharagpur and it exports its products to Africa, South America, Europe, Southeast Asia, SAARC etc. It has 285 employees currently.
Megatherm Induction Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Megatherm Induction Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
