1) Size of United Heat Transfer IPO
The IPO is entirely a fresh share sale of 50.84 lakh shares and through the issue, the company plans to raise around Rs 30 crore.
2) United Heat Transfer IPO Price Band
The company is offering its shares at Rs 56 to Rs 59 each and investors can bid for 2000 shares in 1 lot.
3)United Heat Transfer GMP
In the unlisted market, the company’s shares have a BPM of Rs 10, indicating a premium of 17% over the issue price.
4) About United Heat Transfer
The company is engaged in manufacturing a range of shell and tube heat exchangers, air cooled heat exchangers, pressure vessels and process flow slip equipment used as critical equipment for gasoline and diesel engines, railway engines, marine engines, cruise and cargo. ships among others.
5) Industry Overview
The electrical equipment market share in India is expected to rise from $52.98 billion in 2022 to $125 billion in 2027, implying a strong CAGR of 11.68%. The domestic electrical equipment market is expected to grow at an annual rate of 12% to reach $72 billion by 2025.
6) Financial performance of United Heat Transfer
For the year ended March 2024, the company posted a total revenue of Rs 21.19 crore and a net profit of Rs 2.42 crore.
7) Objects of the offer
The net proceeds from the public offering will be used to fund loan repayments, working capital requirements and other general corporate purposes.
8) Senior Managers and Registrar
Swastika Investmart is acting as lead manager for the issue and Link Intime India is the registrar.
9) Structure of the problem
Around 50% of the offering is reserved for qualified institutional buyers, 35% for retail investors and the other 15% for non-institutional investors.
10) Important dates
The IPO opened on October 22 and will close on October 24. The final allocation will probably be made on October 25. The company’s shares will likely be listed on October 29.
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