1) United Heat Transfer IPO size
The IPO is entirely a fresh equity sale of 50.84 lakh shares and through the issue, the company plans to raise about Rs 30 crore.
2) United Heat Transfer IPO price band
The company is offering its shares at Rs 56-59 apiece, 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 GMP of Rs 10, indicating a premium of 17% over the issue price.
4) About United Heat Transfer
The company is engaged in the manufacture of a range of shell and tube heat exchangers, air cooled heat exchangers, pressure vessels and process flow skids equipment’s which are used as critical equipment’s for petrol and diesel engines, railway engines, maritime engines, cruse and cargo ships among others.
5) Industry Overview
The electrical equipment market share in India is expected to increase from $52.98 billion in 2022 to $125 billion by 2027, implying a robust 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.
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6) United Heat Transfer financial performance
For the year ended March 2024, the company clocked total revenues of Rs 21.19 crore and net profit of Rs 2.42 crore.
7) Objects of the offer
The net proceeds from the public offer will be used funding of repayment of loans, working capital requirements and other general corporate purposes.
8) Lead managers and Registrar
Swastika Investmart is acting as the lead manager to the issue and Link Intime India is the registrar.
9) Issue structure
About 50% of the offer 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 allotment will likely be made on October 25. The company’s shares will likely get listed on October 29.
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