United Heat Transfer Ltd. was incorporated on January 27th, 1995. The company manufactures a range of shell and tube heat exchangers, air-cooled heat exchangers, pressure vessels, and process flow skids, used as critical equipment in petrol and diesel engines, railway engines, maritime vessels, heavy trucks, and more
| Bidding Dates |
|---|
| 22 Oct 2024 - 24 Oct 2024 |
| Subscription |
|---|
| 78.02x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,12,000 | 1 | 1 | 2000 | 5.1 M | ₹56 - ₹59 | 67.09 % | ₹284.7 M - ₹300.0 M | RHP DOC |
United Heat Transfer Ltd. IPO SUBSCRIPTION STATUS
24 Oct '24United Heat Transfer Ltd. IPO overall subscription rate was 78.02 times the total available shares
United Heat Transfer Ltd. IPO retail subscription rate was 131.36 times in the retail segment
United Heat Transfer Ltd. IPO non-institutional investor subscription rate was 166.37 times in the non-institutional investor category
United Heat Transfer Ltd. IPO Qualified Institutional Bidder subscription rate was 14.18 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 335% | 15% | 50% |
24 Oct 2024 (Day 3) | 131.36x | 166.37x | 14.18x |
23 Oct 2024 (Day 2) | 17.74x | 10.86x | 1.39x |
22 Oct 2024 (Day 1) | 3.11x | 5.65x | 0.93x |
United Heat Transfer Ltd. 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 |
| 4MFY25 | 24.3 | 211.9 | 17.6 | 15.8 | 24.9% |
| FY24 | 62.4 | 601.9 | 32.9 | 16.5 | 16.6% |
| FY23 | 21.2 | 699.5 | 76.4 | 47.6 | 11.1% |
| FY22 | 15.3 | 476.5 | 24.1 | -20.1 | 12.9% |
United Heat Transfer Ltd. IPO SUBSCRIPTION STATUS DETAILS
United Heat Transfer Ltd. had 5.1 M shares on offer
United Heat Transfer Ltd. IPO offer price was in the range ₹56 - ₹59
United Heat Transfer Ltd. IPO minimum Investment was ₹112000
United Heat Transfer Ltd. IPO issue size was ₹ 284.7 M - ₹ 300.0 M
United Heat Transfer Ltd. had a minimum lot size of 2000 Shares per application
United Heat Transfer Ltd. NUMBER OF SHARES ON OFFER
United Heat Transfer Ltd. IPO IMPORTANT DATES
| Issue Open Date | 22 Oct 2024 |
| Issue close Date | 24 Oct 2024 |
| Allotment Date | 25 Oct 2024 |
| Refund Date | 28 Oct 2024 |
| Demat Account Credit Date | 28 Oct 2024 |
| Listing Date | 29 Oct 2024 |
| Listing on Exchange(s) | NSE |
| United Heat Transfer Ltd. Allotment Status | Exchange |
United Heat Transfer Ltd. IPO subscription opened on 22 Oct 2024, and closed on 24 Oct 2024
IPO allotment for United Heat Transfer Ltd. was finalized on Friday, 25 Oct 2024
IPO listing for United Heat Transfer Ltd. was on NSE on Tuesday, 29 Oct 2024
United Heat Transfer Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 59.0 |
| Listing Open Price | 61.0 |
| Listing Close Price | 64.0 |
| Listing Gain% | 3.3% |
| Current Gain% | 64.0% |
United Heat Transfer Ltd. 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United Heat Transfer Ltd. | 96.8 | 183.9 | 36.7 | -6.6 | 2.5 | 7.9 | 5.3 | 73.9 | 8.8 | 5 | -5.6 | 2.6 | -5.6 |
| Cummins India Ltd. | 5426 | 150408.7 | 63.5 | 6 | 11.9 | 27.9 | 20.9 | 12660.5 | 16.8 | 2361.8 | 18.1 | 85.4 | 10.6 |
| GE Vernova T&D India Ltd. | 4299 | 110074.4 | 84.3 | 1.2 | 16.4 | 45.8 | 15.9 | 6297.2 | 44.6 | 1233.2 | 102.7 | 51 | 70.6 |
| 3M India Ltd. | 36035 | 40593.8 | 77.7 | 6.4 | 8 | 29.5 | 16.6 | 5138.5 | 13.8 | 522.3 | 9.7 | 463.7 | 12.2 |
| Kirloskar Oil Engines Ltd. | 2161.7 | 31457 | 57.6 | 3.7 | 4 | 15.9 | 5.3 | 7771.2 | 21.5 | 574.3 | 17.4 | 37.5 | 15.8 |
| Jyoti CNC Automation Ltd. | 784.3 | 17836.8 | 55.4 | -12.6 | 8.1 | 16.8 | 9.3 | 2153.6 | 17.5 | 336 | 6.3 | 14.1 | -4.4 |
United Heat Transfer Ltd. INFORMATION ON IPO ISSUE
About United Heat Transfer Ltd.
United Heat Transfer Ltd. was incorporated on January 27th, 1995. The company manufactures a range of shell and tube heat exchangers, air-cooled heat exchangers, pressure vessels, and process flow skids, used as critical equipment in petrol and diesel engines, railway engines, maritime vessels, heavy trucks, and more
Object of the Issue
- Repayment of debt
- To meet incremental working capital requirements
- General corporate purpose
United Heat Transfer Ltd. - PROMOTERS
| Name |
|---|
| Yogesh Viswanath Patil |
| Vivek Vishwanath Patil |
| Durva Yogesh Patil |
| Shatanik Vivek Patil |
United Heat Transfer Ltd. Lead Manager of the Issue
Swastika Investmart Limited
merchantbanking@swastika.co.in
United Heat Transfer Ltd. Registrar to the issue
Link Intime India Private Limited
unitedheat.smeipo@linkintime.co.in
United Heat Transfer Ltd. Strengths
Integrated manufacturing facilities
Optimized design and timely delivery are essential for success. The company prioritizes high-quality standards for its products, emphasizing quality improvement since inception and maintaining stringent quality controls throughout processing
Vendor registrations
The company is registered as an approved vendor with leading companies in the oil and petroleum industry
Strategic location of unit
The manufacturing hub in Nashik is a well-developed industrial area with excellent infrastructure, transport, water, and power supply. The availability of labor from nearby areas enhances flexibility and provides a competitive edge over competitors
United Heat Transfer Ltd. Risks
Dependent on few customers
The top five customers contributed 67.6% of total sales for the year ended March 31, 2024. The company’s operations are highly dependent on these customers; losing any key customer could adversely affect sales, financial condition, and cash flows
Dependent on exports
Export sales are heavily reliant on the top five countries: France, Holland, Poland, Netherlands, and the USA, contributing 8.84% of total sales revenue as of FY24. Any inability to sell to these countries could significantly impact revenue
Dependent on manufacturing facility
The business relies heavily on its manufacturing facility, and any loss or shutdown of operations could materially impact its financial condition and overall performance
IPO FAQs
The promoters of the company are Yogesh Viswanath Patil, Vivek Vishwanath Patil, Durva Yogesh Patil and Shatanik Vivek Patil.
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 335.0%.
The price band of the IPO is Rs 56.0 - 59.0.
The IPO application opens on Oct 22, 2024 and closes on Oct 24, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 112,000.0, the maximum value for this IPO is Rs 118,000.0.
This IPO will be allotted on Oct 25, 2024.
The refund will be credited to your account on Oct 28, 2024.
The allotted shares will be credited to your demat on Oct 28, 2024.
United Heat Transfer Ltd.’s shares listed on the stock exchanges on Oct 29, 2024.