How To Check Megatherm Induction IPO Allotment Status

Megatherm Induction IPO received an overwhelming response from investors. The SME IPO was subscribed a total of 196 times on the final day of bidding. The allotment for the Megatherm Induction IPO is expected to be finalized on Thursday, February 1, 2024.

If you applied for the IPO, you could use the below-listed method to check the Megatherm Induction IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Megatherm IPO allotment status

1. Visit the registrar's website.
2. Click on "Company Selection" and choose "Megatherm Induction" from the dropdown menu.
3. Then you can enter your PAN, application number, or Demat.
4. Enter the captcha and click Search to retrieve Megatherm IPO allotment status

If all the details are entered correctly and the allotment has been finalised, the Megatherm IPO allotment status will be visible.

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The Megatherm Induction IPO Overview: The issue comprised entirely of a fresh issuance of 49.92 lakh shares. With a price band of ₹100 to ₹108 per share, the minimum lot size for an application was set at 1200 shares, requiring a minimum investment of ₹129,600 for retail investors and ₹259,200 for HNIs.

The IPO garnered significant interest, with subscriptions reaching 200.51 times in the retail category, 105.14 times in QIB, and 307.04 times in the NII category. The stock’s tentative listing date is set for Monday, February 5, 2024, on NSE SME.

Megatherm Induction Limited specializes in manufacturing induction heating and melting products, including induction melting furnaces and induction heating equipment. It operates as a subsidiary of Megatherm Electronics Private Limited.

In the anchor book round held on January 25, the company raised ₹15.36 crore from anchor investors, with participants including Meru Investment Fund, Bengal Finance and Investment, and Chattisgarh Investments.

Megatherm IPO GMP is reported to be around ₹111. Taking the upper price into consideration, the shares of the company could list at around ₹219, an over 100% premium over the issue price. However, one should keep in mind that GMPs are indicative prices and should be taken as absolute indicators of listing prices.

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