Megatherm Induction SME IPO GMP

Megatherm Induction Limited, a Kolkata-based company, has made significant strides in the field of manufacturing induction heating and melting products. The company recently announced its Initial Public Offering (IPO) on NSE Emerge, with an issue size of Rs 53.91 Crores. Let’s delve into the details of the IPO, particularly focusing on the Grey Market Premium (GMP) and the company’s profile.

IPO Details

The Megatherm Induction SME IPO, scheduled to open from January 29 to January 31, 2024, offers 100% Fresh issue worth Rs 53.91 Crores. Each share comes with a face value of Rs 10, and the issue price per share ranges between Rs 100 to Rs 108. Investors can apply for a lot size of 1200 shares or its multiple as specified in the offer document.

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Also Read: Upcoming IPO in India

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for Megatherm Induction SME IPO has seen a positive trend. As of the latest update, the GMP stands at ₹110. This indicates a potential gain of 101.85%, with an estimated listing price of ₹218 (cap price + today’s GMP). It is crucial to note that the GMP reflects the price at which the IPO is traded in the unofficial/unregulated grey market before its official listing.

Megatherm Induction Day-wise IPO GMP Trend

Here is the GMP data for Megatherm Induction IPO: [ Last Updated: 05 Feb, 2024; 08:30]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
05-02-2024108.00₹110100300₹218 (101.85%)
04-02-2024108.00₹110100300₹218 (101.85%)
03-02-2024108.00₹10797600₹215 (99.07%)
02-02-2024108.00₹10797600₹215 (99.07%)
01-02-2024108.00₹10595800₹213 (97.22%)
31-01-2024108.00₹111101200₹219 (102.78%)
30-01-2024108.00₹135123100₹243 (125.00%)
29-01-2024108.00₹10091200₹208 (92.59%)
28-01-2024108.00₹7568400₹183 (69.44%)
27-01-2024108.00₹7568400₹183 (69.44%)
26-01-2024108.00₹7568400₹183 (69.44%)
25-01-2024108.00₹7568400₹183 (69.44%)
24-01-2024108.00₹7568400₹183 (69.44%)
23-01-2024108.00₹6054700₹168 (55.56%)
22-01-2024108.00₹6054700₹168 (55.56%)
21-01-2024108.00₹4036500₹148 (37.04%)
20-01-2024108.00₹4036500₹148 (37.04%)
19-01-2024108.00₹4036500₹148 (37.04%)

Also Read: Announced IPOs: Upcoming Big IPOs in India 2024

Latest IPO GMP

Investors can track the live GMP status of all upcoming and closed IPOs on the IPO GMP Dashboard at Regular updates on IPO GMP performance help investors make informed decisions by comparing GMP and listing prices.

Understanding IPO Grey Market Premium (GMP)

The grey market premium serves as an unofficial indicator of market sentiment. A positive GMP suggests potential profit on listing day, while a negative GMP may indicate the possibility of listing at a discount. However, due to the inherent volatility of IPO GMP, making investment decisions solely based on it can be risky. Investors are advised to consider various factors before deciding to invest in the Megatherm Induction SME IPO.

Also Read: When Can a Company Go for IPO in India

About Megatherm Induction Limited

Established in 2010, Megatherm Induction Limited focuses on manufacturing induction heating and melting products using electrical induction. Their product range includes induction melting furnaces, induction heating equipment, transformers, ladle refining furnaces, continuous casting equipment, and more. They cater to various industries, including secondary and primary steel producers, automotive suppliers, weapons factories, railroads, and engineering industries.

Strengths of Megatherm Induction

  • Established manufacturing facility.
  • Technical capabilities for complex applications.
  • Long-standing relationships with customers.
  • Experienced and qualified promoters and management team.
  • Consistent financial performance with a robust order book.

Also Read: Benefits and Risks of Investing in IPOs: A Comprehensive Guide

IPO Objective and Utilization of Proceeds

The company plans to utilize the IPO proceeds for the following purposes:

  1. Funding capital expenditure towards the construction of factory shed and installation of additional plant and machinery.
  2. Meeting working capital requirements.
  3. General corporate purposes.

IPO Dates

SME IPO ActivityDate
SME IPO Open Date29-01-2024
SME IPO Close Date31-01-2024
Basis of Allotment Finalisation Date01-02-2024
Refunds Initiation Date02-02-2024
Credit of Shares to Demat Account Date02-02-2024
SME IPO Listing Date05-02-2024

Investors are encouraged to stay updated on the latest information as dates are subject to change.

In conclusion, Megatherm Induction SME IPO presents an opportunity for investors to participate in the growth story of a company with a strong presence in the induction heating and melting industry. However, it is essential to conduct thorough research and consider various factors before making investment decisions.

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Disclaimer: The information provided on this website is for informational purposes only and should not be construed as financial or investment advice. Users are advised to do their own research and consult a qualified financial advisor before making any investment decisions.
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