Megatherm Induction IPO: Check status, GMP, listing date and other details

The public offer of Megatherm Induction received a healthy response from investors with an overall subscription of 190 times. The company is likely to finalise the IPO allotment today. Investors can check the status of Megatherm Induction IPO allotment by logging in to the official website of the registrar, which is Bigshare Services in this case.

Follow the step by step process mentioned below to check the status of allotment.

Step 1: Visit the IPO Allotment Status page on Bigshare Services website (https://ipo.bigshareonline.com/IPO_Status.html)


Step 2: Select IPO from the dropdown

Step 3: Put Application number and enter captcha and 'Submit'.

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Megatherm Induction GMP

In the unlisted market, shares of Megatherm Induction are commanding a premium of Rs 135, compared with an issue price of Rs 108. If the trends sustain, the stock is expected to fetch listing gains of 125%, when it debuts on the NSE SME platform on February 5.

The IPO was entirely a fresh equity issue of up to 42.9 lakh equity shares aggregating to Rs 54 crore.

Net proceeds from the public offer will be used for funding capital requirements towards construction of factory shed, working capital requirements and general corporate purposes.

The company is engaged in the business of manufacturing induction heating and melting products by means of electric induction like induction melting furnace and induction heating equipment.

Besides induction melting and heating equipment, the company produces various up-stream and down-stream plants and 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 and special steel making industries.

For the period ended September 2023, Megatherm Induction clocked revenues of Rs 146.8 crore and net profit of Rs 7.59 crore.

Hem Securities acted as the lead manager to the issue.

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