Megatherm Induction IPO Day 1: Issue subscribed 11.88 times; here's GMP and other details
Baweja Studios IPO: Issue subscribed 21% so far on day 1; check GMP, other key details of SME IPO Megatherm Induction Limited manufactures induction heating and melting products using electrical induction such as induction melting furnaces and induction heating equipment. Megatherm Induction is a subsidiary of Megatherm Electronics Private Limited. The company also manufactures upstream and downstream equipment and machinery for steelworks, such as transformers, ladle refining furnaces, continuous casting machines, fume extraction systems, etc., as well as electric arc furnaces for the alloy and special steel industry.
Megatherm Induction IPO has received bids for 3,96,37,200 shares against 33,19,200 shares on the offer. Also read: BLS E-Services IPO opens tomorrow: GMP rises, issue details, 10 key things to know The retail category of the Megatherm Induction IPO were subscribed over 19.38, received 3,21,67,200 applications against offered 16,59,600 shares. Meanwhile, QIB and NII was subscribed over 1 time and 9.17 times on the first day of subscription, according to data by Chittorgarh.com.
Megatherm Induction GMP today, or grey market premium today, is ₹100 per share. This indicates that the Megatherm Induction shares were trading at a premium of 92.59% at ₹100 apiece on the GMP, as compared to its issue price of ₹108 per share. Also read: Harshdeep Hortico IPO: From subscription status to GMP, all you need to know The small and medium enterprises (SME) IPO is a is a book built issue of ₹53.91 crores.
The issue is entirely a fresh issue of 49.92 lakh shares. Megatherm Induction IPO price band is set at ₹100 to ₹108 per share. The minimum lot size for an application is 1200 shares.
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