Megatherm Induction share price makes a bumper debut, stock lists with 83% premium at ₹198 on NSE SME

Megatherm Induction IPO listing price: Megatherm Induction share price made a stellar debut on NSE SME today. On NSE SME, Megatherm Induction share price was listed at ₹198, which is 83.33% higher than the issue price of ₹108.

Megatherm Induction IPO price band was set in the range of ₹100 to ₹108 per equity share. Megatherm Induction IPO opened for subscription on Monday, January 29, and closed on Wednesday, January 31. Megatherm Induction IPO lot size consisted of 1,200 shares. Investors could bid for a minimum of 1,200 shares and in multiples thereof.

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Also Read: Megatherm Induction IPO: Price band set at ₹100-108 per share; check GMP, issue details, key dates, more

With the use of electrical induction, Megatherm Induction Limited produces induction melting furnaces and other induction heating apparatus. Megatherm Electronics Private Limited's subsidiary is called Megatherm Induction.

In addition, the firm produces electric arc furnaces for the alloy and special steel industries as well as upstream and downstream machinery and equipment for steelworks, including fume extraction systems, transformers, continuous casting machines, ladle refining furnaces, etc.

Also Read: Megatherm Induction IPO finalised: Here's how to check allotment status as focus shifts to listing

The profit after tax (PAT) of Megatherm Induction Limited increased by 1171.94% from ₹1.1 crore in FY 2022 to ₹14 crore in FY 2023, while sales climbed by 41.37% from ₹188.4 crore in FY 2022 to ₹266.4 crore in FY 2023.

Megatherm Induction IPO details

Megatherm Induction IPO, which is worth ₹53.91 crore, consists of fresh issue of 4,992,000 equity shares with a face value of ₹10. This is a completely a fresh issue, and there is no offer-for-sale component.

The proceeds from the offer will be used to finance capital expenditures for the installation of new equipment and plant, as well as general business purposes and the building of a manufacturing shed.

The Megatherm Induction IPO's registrar is Bigshare Services Pvt Ltd, and the book running lead manager is Hem Securities Limited.

Also Read: Megatherm Induction IPO: Here's date, price band, GMP and other key details

Megatherm Induction IPO GMP today

Megatherm Induction IPO GMP or grey market premium is +110. This indicates Megatherm Induction share price were trading at a premium of ₹110 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Megatherm Induction share price was indicated at ₹218 apiece, which is 101.85% higher than the IPO price of ₹108.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: IPOs next week: Four mainboard, one SME public issues to raise around ₹2,700 crore; full list here

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