Kolkata (West Bengal) [India], January 24: Megatherm Induction Limited Incorporated in 2010 specializes in the manufacture of induction heating and melting products using electrical induction such as induction melting furnaces and induction heating equipment. The company is going to become public as it has announced to raise Rs 53.91 crores via an initial public offering (IPO) by issuing entirely a fresh issue of 49.92 lakh shares.
For its SME Initial Public Offering (IPO), MegathermInduction Limited has established a price band of Rs 100 to Rs 108 per share. The company’s shares will be listed on the NSE Emerge, with a projected listing date of Monday, February 05, 2024.
Hem Securities Limited is the book running lead manager of Megatherm Induction Ltd IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
The issue proceeds will be utilized in funding capital expenditure towards construction of factory shed and installation of additional plant and machinery, to meet working capital requirements and general corporate purposes.
On Thursday, February 1st, 2024, the shares for the Megatherm Induction IPO are anticipated to be allotted, and on Friday, February 2nd, 2024, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.
Retail investors need to contribute a minimum of Rs 1.296lakh considering the minimum lot size for an application is 1200 shares. For HNIs, the minimum bidding size is two lots, or 2400 shares, for a total investment of Rs 2.592 lakh.
Megatherm Induction Limited’s revenue increased by 41.37% from Rs. 188.4cr in FY 2022 to Rs. 266.4cr in FY 2023 and profit after tax (PAT) was Rs. 14cr in FY 2023.
Megatherm Induction Limited manufactures induction heating and melting products using electrical induction such as induction melting furnaces and induction heating equipment. Megatherm Induction is a subsidiary of MegathermElectronics Private Limited.
The company also manufactures upstream and downstream equipment and machinery for steelworks, such as transformers, ladle refining furnaces, continuous casting machines, fume extraction systems, etc., as well as electric arc furnaces for the alloy and special steel industry.
They cater to Railways, Pipe & Tubes, Steel, Auto ancillary & Engineering Industries. Their domestic Clients include Ordinance Factory, BHEL, Indian Railways, Tata Motors, Mahindra, CESC, Hindalco, Sundaram Fasteners, MM Forging, Talbros Axles, Shyam
Metalics, Sarda Energy, Rashmi Metaliks, Prakash Industries etc. They also export to 4 continents Europe, Africa, South America & Asia which is growing at CAGR of 34.29% for the period FY 2021-23
Megatherm Induction’s manufacturing unit is located in Kharagpur and has a production capacity of around 300 furnaces and transformers (as of March 31, 2023). The company exports products to South America, Africa, the Gulf region, Europe, SAARC and Southeast Asia. The Company has an order of Rs.280 Crs. (31st December ’23)
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