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Megatherm Induction IPO
Price Band
₹100.0–108.0
Issue Size
₹53.91 Cr
Lot Size
1,200 shares
Min Investment
₹129,600
GMP
+₹110.0 (101.85%)
Issue Price
₹108.0
Subject to Sauda
₹100300
Paid only if allotted
Megatherm Induction IPO AI Summary
- Megatherm Induction IPO is listed on NSE SME in the Other Industrial Products sector.
- Price band: ₹100.0–₹108.0 per share, lot size 1,200 shares (min. investment ₹129,600).
- Subscription window: 29 Jan–31 Jan 2024, listing on 05 Feb 2024.
- Current GMP is +₹110.0 (101.85%), an estimated listing price of ₹218 — unofficial and can change daily.
Megatherm Induction Limited is set to offer its IPO with an issue price of ₹108.0, targeting a total issue size of ₹53.91 Cr. The company specializes in induction heating and melting products and has shown growth in total income and profit over recent years, though the latest figures indicate a decrease in income compared to the previous full year.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Megatherm Induction IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 31 Jan 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Megatherm Induction IPO Grey Market Premium (GMP) Today
GMP
+₹110.0
GMP %
+101.85%
Est. Listing
₹218.0
Updated: 25 Jul 2026 14:07
About the Company
Incorporated in 2010, 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. The company also offers turnkey solutions for steel plants, which include the planning, engineering, delivery, assembly and commissioning of steel plants with its own or outsourced systems and machines, as well as customer service with maintenance contracts and spare parts business. Megatherm's key market segments are Secondary steel producers that recycle scrap, primary steel producers that convert iron ore into sponge iron and then convert it into steel through induction melting, automotive suppliers, Ordnance factories and railroads, DI pipe manufacturers, and various engineering industries that produce critical parts in their own casting, forging and metal processing facilities. Megatherm Induction's manufacturing unit is located in Kharagpur and has a production capacity of around 300 furnaces and transformers (as of March 31, 2023). The company exports products to South America, Africa, the Gulf region, Europe, SAARC and Southeast Asia. As at July 31, 2023, the company had 285 permanent employees.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 210.40 | 191.98 | 172.63 | 146.45 |
| Total Income | 147.32 | 266.44 | 188.47 | 109.27 |
| Profit After Tax | 7.59 | 14.00 | 1.10 | 3.09 |
| NET Worth | 58.22 | 50.63 | 36.62 | 35.12 |
| Reserves and Surplus | 44.37 | 41.39 | 27.39 | 25.99 |
| Total Borrowing | 44.80 | 42.82 | 40.39 | 43.27 |
Key Ratios
EPS
₹10.11
NAV
₹36.56
ROE
27.66%
ROCE
27.47%
RoNW
27.66%
P/B Value
2.95
P/E Ratio
10.68
Market Cap
₹203.48 Cr
PAT Margin
5.27%
Debt/Equity
1.67
Peer Comparison
| Company | EPS Basic | EPS Diluted | NAV | RoNW | P/E (x) |
|---|---|---|---|---|---|
| Electrotherm (india) Ltd. | -9.28 | -9.28 | — | — | — |
| Megatherm Induction Limited This IPO | 10.11 | 10.11 | 36.56 | 27.66% | 10.68 |
Promoters
Shesadri Bhusan Chanda, Satadri Chanda and Megatherm Electronics Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding capital expenditure towards construction of factory shed and installation of additional plant and machinery 14.90 2 To meet Working Capital requirements 26.00 3 General Corporate Purpose 7.25
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹188.47 Cr in the year ended 31 Mar 2022, increasing to ₹266.44 Cr by 31 Mar 2023. However, for the period ending 30 Sep 2023, total income decreased to ₹147.32 Cr, though this is a 6-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹1.10 Cr for the year ending 31 Mar 2022, rising to ₹14.00 Cr by 31 Mar 2023. In the latest period ending 30 Sep 2023, profit after tax was ₹7.59 Cr, which is a 6-month figure and not directly comparable to a full year.
Valuation
At the issue price of ₹108.0, Megatherm Induction has an implied P/E ratio of 10.68, compared to peers trading at a P/E range of -9.28.
Grey Market Premium, Explained
The grey market premium (GMP) indicates the difference between the expected listing price and the issue price of an IPO. A positive GMP suggests that the stock may list at a higher price than its issue price, reflecting demand in the unofficial market.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as market conditions, company fundamentals, and sector performance.
Who May Want to Wait
Investors who prefer stable and established companies with predictable earnings may want to avoid IPOs like this, which can be subject to market fluctuations and operational risks.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on January 29, 2024, and closes on January 31, 2024. Allotment of shares will be done on February 1, 2024, and the stock is expected to be listed on February 5, 2024.
Listing Gains — The Risk
Listing-day gains can be unpredictable and depend on various factors, including market sentiment and demand for the stock. Investors should be aware that while some IPOs may see significant gains on the first day, others may not perform as well.
This evaluation is generated from Megatherm Induction's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Megatherm Induction IPO GMP today?
Megatherm Induction IPO GMP today is +₹110.0 (101.85%), indicating an estimated listing price of ₹218. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Megatherm Induction IPO?
The price band of Megatherm Induction IPO is ₹100.0–₹108.0 per share.
When does Megatherm Induction IPO open and close?
Megatherm Induction IPO opens on 29 January 2024 and closes on 31 January 2024.
When does Megatherm Induction IPO list on the stock exchange?
Megatherm Induction IPO listed on 05 February 2024 at ₹218.0.
What is the lot size for Megatherm Induction IPO?
The lot size for Megatherm Induction IPO is 1200 shares, requiring a minimum investment of ₹129,600.
What is the price band for the IPO?
The price band for the IPO is ₹100.0 to ₹108.0.
What is the minimum investment required?
The minimum investment required is ₹129,600.
What is the lot size for the IPO?
The lot size for the IPO is 1200 shares.
When is the listing date for the IPO?
The listing date for the IPO is February 5, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the stock may list compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
29 Jan 2024
Close
31 Jan 2024
Allotment
01 Feb 2024
Listing
05 Feb 2024
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