Megatherm Induction s IPO received a strong response from investors, with a subscription rate of 190 times. The company is set to finalize the IPO allotment today. Investors can check the status of the Megatherm Induction IPO allotment on the official website of the registrar, Bigshare Services. In the unlisted market, Megatherm Induction shares are trading at a premium of Rs 135, compared to the issue price of Rs 108.
Megatherm Induction IPO opened today with a target to raise Rs 54 crore through a fresh equity issue of up to 42.9 lakh shares. The company manufactures induction heating and melting products for the growing secondary steel sector in India. The IPO price band is set at Rs 100-108 per share, with a lot size of 1,200 shares. The funds raised will be used for construction, working capital, and general corporate purposes. The IPO is open until January 31, and the listing is expected on February 5.