Megatherm Induction Limited IPO Closed

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IPO date 29 Jan 2024 – 31 Jan 2024
Listing date 05 Feb 2024
Price range 100 – 108
Minimum order quantity 1200
(D)RHP View

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Megatherm Induction Limited is launching its IPO. The IPO opens for subscription on 29th January and will close on 31st January 2024.

Disclaimer: This stock will trade with a lot size of 1200 shares in the SME segment on the listing.

What does Megatherm Induction Limited do?

Incorporated in 2010, the company specializes in manufacturing induction heating and melting products, including induction melting furnaces and induction heating equipment. As a subsidiary of Megatherm Electronics Private Limited, the company also produces transformers, ladle refining furnaces, continuous casting machines, and electric arc furnaces for the steel-making industry.

The company provides turnkey solutions for steel plants, covering design, engineering, supply, assembly, and commissioning, along with after-sales services like maintenance and spare parts. It serves a wide range of industries, including secondary steel producers, primary steel producers, auto ancillaries, ordnance factories, railways, and engineering industries.

The company’s Kharagpur, West Bengal facility has an annual capacity of around 300 furnaces and transformers. It exports to South America, Africa, the Gulf, Europe, SAARC countries, and Southeast Asia, significantly impacting its revenue. The manufacturing facilities are ISO 9001:2015 certified.

Schedule of Megatherm Induction Limited IPO

Issue Period 29th January to 31st January 2024
Deadline for accepting UPI mandate  Until 5 PM on the issue closing day
Finalization of Allotment February 01, 2024
Initiation of Refunds February 02, 2024
Credit of Shares February 02, 2024
Date of Listing February 05, 2024
Mandate end date February 15, 2024
Anchor Investors Lock-In End Date (50% of the investment) February 29, 2024
Anchor Investors Lock-In End Date (Remaining investment) April 30, 2024

Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.

How to apply to the Megatherm Induction Limited IPO?

You can apply for the Megatherm Induction Limited IPO using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept the UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

How to check the allotment status for the Megatherm Induction Limited IPO?

You can check the allotment status for the Megatherm Induction Limited IPO on the website of the Registrar and Transfer agent.