Megatherm Induction, incorporated on October 22, 2010, specializes in manufacturing induction heating and melting products like furnaces and equipment. It also produces a range of machinery for steel melt shops, including transformers and continuous casting machines, and manufactures electric arc furnaces for the steel-making industry. The company offers turnkey solutions for steel plants, encompassing design, engineering, supply, erection, and commissioning, along with after-sales services including maintenance contracts and spare parts.
| Bidding Dates |
|---|
| 29 Jan 2024 - 31 Jan 2024 |
| Subscription |
|---|
| 182.4x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 1200 | 5.0 M | ₹100 - ₹108 | 72.71 % | ₹499.2 M - ₹539.1 M | RHP DOC |
Megatherm Induction IPO SUBSCRIPTION STATUS
31 Jan '24Megatherm Induction IPO overall subscription rate was 182.4 times the total available shares
Megatherm Induction IPO retail subscription rate was 266.32 times in the retail segment
Megatherm Induction IPO non-institutional investor subscription rate was 408.48 times in the non-institutional investor category
Megatherm Induction IPO Qualified Institutional Bidder subscription rate was 55.84 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
31 Jan 2024 (Day 3) | 266.32x | 408.48x | 55.84x |
30 Jan 2024 (Day 2) | 114.85x | 74.81x | 0.81x |
29 Jan 2024 (Day 1) | 24.82x | 12x | 0.53x |
Megatherm Induction FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 75.9 | 1,468.8 | 15.0 | -50.7 | 9.4% |
| FY23 | 140.0 | 2,658.8 | 257.8 | 67.2 | 10.4% |
| FY22 | 11.0 | 1,878.3 | 172.2 | 156.0 | 4.2% |
| FY21 | 30.9 | 1,090.1 | 139.5 | 130.1 | 12.1% |
Megatherm Induction IPO SUBSCRIPTION STATUS DETAILS
Megatherm Induction had 5.0 M shares on offer
Megatherm Induction IPO offer price was in the range ₹100 - ₹108
Megatherm Induction IPO minimum Investment was ₹120000
Megatherm Induction IPO issue size was ₹ 499.2 M - ₹ 539.1 M
Megatherm Induction had a minimum lot size of 1200 Shares per application
Megatherm Induction NUMBER OF SHARES ON OFFER
Megatherm Induction IPO IMPORTANT DATES
| Issue Open Date | 29 Jan 2024 |
| Issue close Date | 31 Jan 2024 |
| Allotment Date | 01 Feb 2024 |
| Refund Date | 02 Feb 2024 |
| Demat Account Credit Date | 02 Feb 2024 |
| Listing Date | 05 Feb 2024 |
| Listing on Exchange(s) | NSE |
| Megatherm Induction Allotment Status | Exchange |
Megatherm Induction IPO subscription opened on 29 Jan 2024, and closed on 31 Jan 2024
IPO allotment for Megatherm Induction was finalized on Thursday, 01 Feb 2024
IPO listing for Megatherm Induction was on NSE on Monday, 05 Feb 2024
Megatherm Induction IPO LISTING GAINS
| Issue Price (adjusted) | 108.0 |
| Listing Open Price | 198.0 |
| Listing Close Price | 207.9 |
| Listing Gain% | 83.3% |
| Current Gain% | 83.6% |
Megatherm Induction Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Megatherm Induction Ltd. | 198.3 | 373.6 | 15.8 | 1.4 | 1.1 | 14.3 | 6.9 | 352.8 | 9 | 23.7 | 11.1 | 12.6 | 11.1 |
| Cummins India Ltd. | 5378.5 | 149092 | 63 | 6 | 11.8 | 27.9 | 20.9 | 12660.5 | 16.8 | 2361.8 | 18.1 | 85.4 | 10.6 |
| GE Vernova T&D India Ltd. | 4420 | 113172.6 | 86.7 | 1.2 | 16.9 | 45.8 | 15.9 | 6297.2 | 44.6 | 1233.2 | 102.7 | 51 | 70.6 |
| 3M India Ltd. | 36115 | 40683.9 | 77.9 | 6.4 | 8 | 29.5 | 16.6 | 5138.5 | 13.8 | 522.3 | 9.7 | 463.7 | 12.2 |
| Kirloskar Oil Engines Ltd. | 2101.5 | 30581 | 56 | 3.5 | 3.9 | 15.9 | 5.3 | 7771.2 | 21.5 | 574.3 | 17.4 | 37.5 | 15.8 |
| LMW Ltd. | 17323 | 18506.2 | 105.9 | 1.5 | 5.5 | 4.6 | 3.1 | 3353.4 | 6.9 | 130.7 | 27.4 | 163.6 | 69.6 |
Megatherm Induction INFORMATION ON IPO ISSUE
About Megatherm Induction
Megatherm Induction, incorporated on October 22, 2010, specializes in manufacturing induction heating and melting products like furnaces and equipment. It also produces a range of machinery for steel melt shops, including transformers and continuous casting machines, and manufactures electric arc furnaces for the steel-making industry. The company offers turnkey solutions for steel plants, encompassing design, engineering, supply, erection, and commissioning, along with after-sales services including maintenance contracts and spare parts.
Object of the Issue
- Funding capital expenditure towards construction of factory shed and installation of additional plant and machinery
- To meet working capital requirements
- General corporate purpose
Megatherm Induction - PROMOTERS
| Name |
|---|
| Shesadri Bhusan Chanda |
| Satadri Chanda |
| Megatherm Electronics Private Limited |
Megatherm Induction Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Megatherm Induction Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Megatherm Induction Strengths
Long standing relationship
The company boasts a well-diversified customer base across India and various parts of the globe, where it tailors its products and services to meet customer requirements, often resulting in repeat orders
Strong order book
The company's revenue and profitability are supported by a robust and strong order book, representing approximately over Rs 290 crore as of July 31, 2023
Megatherm Induction Risks
Outstanding legal proceedings
There are certain outstanding legal proceedings involving the company, its promoters, its directors, and group companies. Any failure to successfully defend these proceedings may have an adverse effect on the business prospects
Competitive markets
The company operates in competitive markets and may face competition from various players, which could have an adverse effect on the business.
IPO FAQs
The promoters of the company are Shesadri Bhusan Chanda, Satadri Chanda and Megatherm Electronics Private Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 100.0 - 108.0.
The IPO application opens on Jan 29, 2024 and closes on Jan 31, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 129,600.0.
This IPO will be allotted on Feb 01, 2024.
The refund will be credited to your account on Feb 02, 2024.
The allotted shares will be credited to your demat on Feb 02, 2024.
Megatherm Induction Ltd.’s shares listed on the stock exchanges on Feb 05, 2024.