Megatherm Induction IPO: Key Details and Subscription Information

Megatherm Induction is set to launch its initial public offering (IPO) for subscription starting today, January 29, and concluding on January 31. The induction heating equipment manufacturer's SME IPO is valued at ₹53.91 crores, constituting an entirely fresh issue of 49.92 lakh shares. Here's an overview of the crucial details surrounding the Megatherm Induction IPO:

Price Band and Lot Size:

• The price band for the IPO is established at ₹100 to ₹108 per share.
• The minimum lot size for an application stands at 1200 shares.
• Retail investors are required to make a minimum investment of ₹129,600.
• For High Net Worth Individuals (HNI), the minimum lot size investment is 2 lots (2,400 shares), totaling ₹259,200.

Promoters:

• The company's promoters include Shesadri Bhusan Chanda, Satadri Chanda, and Megatherm Electronics Private Limited.

Book Running Lead Manager:

• Hem Securities Limited is the appointed book running lead manager for the Megatherm Induction IPO.

Allotment Finalization:

• The allotment process is anticipated to be concluded on Thursday, February 1.

Listing Details:

• The IPO is scheduled to be listed on NSE SME, with a tentative listing date set for February 5.

About Megatherm Induction:

• Incorporated in 2010, Megatherm Induction Limited specializes in the manufacturing of induction heating and melting products utilizing electrical induction technology.
• The company's product range includes induction melting furnaces and induction heating equipment.
• Megatherm Induction Limited is a subsidiary of Megatherm Electronics Private Limited.
• On January 25, the company successfully raised ₹15.36 crores from anchor investors.

Investors and stakeholders eagerly await the outcome of the Megatherm Induction IPO, which marks a significant milestone for the induction heating equipment sector.