United Heat Transfer IPO Day 1: By 2:30 PM on Tuesday, October 22, 2024, the United Heat Transfer IPO had garnered 1.24 subscriptions total, indicating high interest on the first day of bidding. The most enthusiastic group was qualified institutional buyers (QIBs), who subscribed 1.74 times, while the retail category subscribed 1.32 times. But the subscription rate for non-institutional investors’ (NIIs’) quotas was only 0.40 times.
With plans to list on the NSE SME platform, the SME IPO, which seeks to raise 30 crore, will be available for subscriptions till October 24. With a minimum bid of 2,000 shares per lot, the company is issuing 50.84 lakh new shares at a price between ₹56 and ₹59 per share. The company’s shares are currently trading at a premium of ₹10 on the grey market, which represents a 17% markup over the issue price.
The most recent GMP for United Heat Transfer SME IPO is ₹14.
United Heat Transfer overview
United Heat Transfer produces vital industrial machinery for use in the railway, maritime and oil and gas industries, including heat exchangers and pressure vessels. For the fiscal year that ended in March 2024, the company reported ₹21.19 crore in sales and ₹2.42 crore in net profit. Repayment of loans, funding working capital requirements, and basic business expenses will all be covered by the IPO’s proceeds.
15% is set aside for NIIs, 35% for retail investors, and 50% for QIBs in the IPO. The IPO’s lead manager is Swastika Investmart, and Link Intime India is in charge of registrar responsibilities. It is anticipated that the shares will be finalised by October 25 and that the listing will occur on October 29. It is anticipated that the IPO will continue to gather momentum in the days ahead due to the high demand from institutional investors.
