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Megatherm Induction Ltd IPO

Megatherm Induction Limited is engaged in the business of manufacturing of induction heating and melting products by means of electric induction like induction melting furnace and induction heating equipment. Besides induction melting & heating equipments the company produces various up-stream & down-stream plant & machineries associated with steel melt shops such as, transformers, ladle refining furnaces, continuous casting machines, fume extraction systems etc. The Company also manufacturers electric arc furnaces for alloys & special steel making industries, its services portfolio includes turnkey solutions for steel plant, which involves design, engineering, supply, erection & commissioning of the steel melt shops using both insourced & outsourced plant & machineries and after sales service, involving maintenance contracts & spare parts business.

Megatherm Induction Ltd IPO Details

Total Shares Offered

₹ 49,92,000

Offer to Public

TBA

Retail Max (Shares)

₹ 16,59,600

Pre Issue Promoters Holding

₹ 1,36,94,829

Exchange

NSE

Issue size

₹ 53.91 Cr

IPO Open Date

Jan 29, 2024

Close Date

Jan 31, 2024

Lot Size

1200

Min Investment

₹ 1,20,000

Issue Type

Book Building - SME

Listing Date

Feb 5, 2024

Megatherm Induction Ltd IPO Dates

Jan 29, 2024

Opening date

Jan 31, 2024

Closing date

Feb 1, 2024

Basis of Allotment

Feb 2, 2024

Initiation of Refunds

Feb 2, 2024

Credit of Shares

Feb 5, 2024

Listing date

Details

Sector	Type
Sector	Engineering
Sub Sector	NA
Issue Type	Book Building - SME

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	2370000
NII	0x	711600
Retail	0x	1659600
Employee	0x	0
Total	0x	4992000

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

2370000

711600

1659600

4992000

Megatherm Induction Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	32.91	30.99	22.26
EBITDA	36.88	34.38	24.69
PAT	21.31	20.72	14.00
Total Assets	188.83	187.73	124.37
Share Capital	18.84	18.84	9.23
Total Borrowings	38.77	49.61	51.85
Operating Activities (Net Cash)	25.28	24.11	16.43
Investing Activities (Net Cash)	5.39	6.96	-0.62
Financing Activities (Net Cash)	38.77	49.61	51.85
Net Cashflow	50.27	60.61	21.03

About Megatherm Induction Ltd

Megatherm Induction Limited was originally incorporated as a Private Limited Company under the name of Megatherm Transmission & Distribution Private Limited on October 22, 2010 under the provisions of the Companies Act, 1956 with the Registrar of Companies, Kolkata, West Bengal. Further, pursuant to the special resolution passed by the shareholders in the Extra Ordinary General Meeting held on September 16, 2015 the name of the Company was changed from Megatherm Transmission & Distribution Private Limited to Megatherm Induction Private Limited and a fresh Certificate of Incorporation was issued by the Registrar of Companies, Kolkata, West Bengal dated September 23, 2015. Subsequently, pursuant to Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting, held on November 15, 2022, the Company was converted into a Public Limited Company and consequently the name of the Company was changed from Megatherm Induction Private Limited to Megatherm Induction Limited vide a fresh certificate of incorporation dated December 20, 2022, issued by the Registrar of Companies, Kolkata, West Bengal.

The secondary Steel sector is treading on a growth path and is expected to play a major role in steel production of India in the light of trends towards increased usage of scrap based steel production. A large number of new production capacities are being added to meet the growing demand. The secondary sector has enormously improved its performance in last two decades with regard to energy usage due to continuous institutional efforts and also interventions through energy efficiency projects funded by government for penetration of energy efficient technologies in this sector. The sector is installing secondary metallurgy equipments like LRFs, VDs to produce quality products. The sector has largely shifted from ingot casting to continuous casting of billets which has helped to get rid of many quality problems.

Peer Comparison:

Electrotherm (India) Ltd

Megatherm Induction Ltd Key Points

Strengths

Established Manufacturing facility.

Technical capabilities for complex applications.

Long standing relationship with its customers.

Experienced and Qualified Promoters and Management team.

Delivering financial performance with strong order book.

Risk

Its loan agreements requires its Corporate Promoter to pledge Equity Shares of the Company with lenders. Any breach by the Company of certain covenants under the financing agreements may entitle these lenders to exercise their rights under the financing agreements and reduce the shareholding of its Corporate Promoter, which may adversely affect the company business.

The company significantly depends upon few of the raw material suppliers for manufacturing of induction heating and melting products and transformers. Volatility in the supply and pricing of its raw materials may have an adverse effect on the company business, financial condition and results of operations.

The company may not be able to realize the amounts, partly or at all, reflected in its Order Book which may materially and adversely affect itd business, prospects, reputation, profitability, financial condition and results of operation.

Strategy

Expanding its customer base.

Increasing its Global presence.

Focus on increasing operational efficiencies to improve returns.

Focus on consistently meeting quality standards.

How To Apply for Megatherm Induction Ltd IPO Online?

Step 1:

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Megatherm Induction Ltd IPO?

Megatherm Induction Ltd's IPO offers shares for up to 53.91 It begins on Jan 29, 2024 and ends on Jan 31, 2024.

What is the price of the Megatherm Induction Ltd IPO?

The price of Megatherm Induction Ltd IPO ranges between ₹100 to ₹108 per share.

What are the open and close dates for the Megatherm Induction Ltd IPO?

The Megatherm Induction Ltd IPO opens on Jan 29, 2024 and closes on Jan 31, 2024.

When will the Megatherm Induction Ltd IPO be allotted?

The allotment for the Megatherm Induction Ltd IPO will be finalised on Feb 1, 2024. The shares will be listed on BSE and NSE on Feb 5, 2024.

What is the minimum lot size required for Megatherm Induction Ltd IPO?

The minimum lot size for Megatherm Induction Ltd IPO is 1200 shares, priced between ₹100 to ₹108 per share.

What is the GMP of Megatherm Induction Ltd IPO?

The GMP (Grey Market Premium) of Megatherm Induction Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Megatherm Induction Ltd IPO?

To check the allotment status of Megatherm Induction Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Megatherm Induction Ltd IPO getting listed?

The Megatherm Induction Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jan 29, 2024, and closes on Jan 31, 2024. The allotment is finalised on Feb 1, 2024.

How do you apply for the Megatherm Induction Ltd IPO?

To apply for the Megatherm Induction Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.