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United Heat Transfer IPO
Price Band
₹56.0–59.0
Issue Size
₹30.0 Cr
Lot Size
2,000 shares
Min Investment
₹118,000
GMP
+₹17.0 (28.81%)
Issue Price
₹59.0
Subject to Sauda
₹25800
Paid only if allotted
United Heat Transfer IPO AI Summary
- United Heat Transfer IPO is listed on NSE SME in the Other Industrial Products sector.
- Price band: ₹56.0–₹59.0 per share, lot size 2,000 shares (min. investment ₹118,000).
- Subscription window: 22 Oct–24 Oct 2024, listing on 29 Oct 2024.
- Current GMP is +₹17.0 (28.81%), an estimated listing price of ₹76 — unofficial and can change daily.
United Heat Transfer Limited is an SME IPO focused on manufacturing critical industrial equipment. With a diverse customer base and modern manufacturing facilities, the company aims to expand its market presence. Investors should consider the financial performance and market conditions when evaluating the IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
United Heat Transfer IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 24 Oct 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
United Heat Transfer IPO Grey Market Premium (GMP) Today
GMP
+₹17.0
GMP %
+28.81%
Est. Listing
₹76.0
Updated: 25 Jul 2026 14:03
About the Company
Incorporated in January 1995, United Heat Transfers Limited manufactures essential equipment such as heat exchangers, pressure vessels, and process flow skids. The company's products are used in petrol and diesel engines, maritime vessels, mining trucks, and heavy machinery, among other applications. The company operates two manufacturing units in Nashik, equipped with modern infrastructure, including advanced technology and machinery that enhance productivity and efficiency. As of July 31, 2024, the Company employs approximately 105 employees at various levels on its payroll, and 127 employees on a contractual basis. Competitive Strength A diverse customer base across various continents enhances our global presence, minimizing reliance on any single market. Knowledgeable and skilled team to ensure efficient production and delivery of products. Meeting Industry Standards to ensure high quality and reliability for its customers Strategic distribution channels and location enhance customer convenience and accessibility, boosting the company's reach and sales potential.
Company Financials (₹ Cr)
As of 2024-07-31
| Period Ended | 31 Jul 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 72.30 | 70.47 | 64.82 | 62.62 |
| Total Income | 21.20 | 64.10 | 70.40 | 47.96 |
| Profit After Tax | 2.43 | 6.24 | 2.12 | 1.53 |
| NET Worth | 28.65 | 20.38 | 14.14 | 12.02 |
| Reserves and Surplus | 14.73 | 7.63 | 9.89 | 7.77 |
| Total Borrowing | 32.02 | 36.92 | 32.95 | 37.61 |
Key Ratios
EPS
₹4.48
NAV
₹20.58
ROE
8.46%
ROCE
10.79%
RoNW
8.46%
P/B Value
3.69
P/E Ratio
13.16
Market Cap
₹112.12 Cr
PAT Margin
11.44%
Debt/Equity
1.12
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| The Anup Engineering Ltd | 531.08 | 19.38% | 34.89 | 52.2 | 52.85 |
| Patel Airtemp India Limited | 260.91 | 10.33% | 25.87 | 26.86 | 26.86 |
| United Heat Transfer Limited This IPO | 15.98 | 30.62% | — | 4.89 | 4.89 |
Promoters
Yogesh Vishwanath Patil, Vivek Vishwanath Patil, Shatanik Vivek Patil and Durva Yogesh Patil
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 Repayment of Debt 5.73 2 To Meet Incremental Working Capital Requirements 14.00 3 General Corporate Purpose 7.35
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹70.40 Cr in the year ending 31 Mar 2023, declining to ₹64.10 Cr by 31 Mar 2024. As of 31 Jul 2024, Total Income further decreased to ₹21.20 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹2.12 Cr in the year ending 31 Mar 2023, rising to ₹6.24 Cr by 31 Mar 2024. As of 31 Jul 2024, Profit After Tax decreased to ₹2.43 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
United Heat Transfer Limited has an implied P/E of 13.16 at the issue price, compared to peers trading at P/E ratios ranging from 25.87 to 34.89.
Grey Market Premium, Explained
The Grey Market Premium (GMP) reflects the price at which shares are expected to trade in the unofficial market before they are listed on the stock exchange. A positive GMP indicates that the shares are likely to list at a premium, while a negative GMP suggests a potential discount.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It is essential to consider the company's financial health, market position, and growth potential.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on 22 October 2024 and closes on 24 October 2024. Allotment of shares will be done on 25 October 2024, with shares expected to be listed on the stock exchange on 29 October 2024.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares list on the stock exchange at a higher price than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from United Heat Transfer'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 United Heat Transfer IPO GMP today?
United Heat Transfer IPO GMP today is +₹17.0 (28.81%), indicating an estimated listing price of ₹76. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of United Heat Transfer IPO?
The price band of United Heat Transfer IPO is ₹56.0–₹59.0 per share.
When does United Heat Transfer IPO open and close?
United Heat Transfer IPO opens on 22 October 2024 and closes on 24 October 2024.
When does United Heat Transfer IPO list on the stock exchange?
United Heat Transfer IPO listed on 29 October 2024 at ₹76.0.
What is the lot size for United Heat Transfer IPO?
The lot size for United Heat Transfer IPO is 2000 shares, requiring a minimum investment of ₹118,000.
What is the lot size for this IPO?
The lot size for United Heat Transfer's IPO is 2000 shares.
What is the minimum investment required?
The minimum investment required is ₹118,000.
What is the price band for this IPO?
The price band for the IPO is ₹56.0 to ₹59.0.
What is GMP and what does it indicate?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which shares may trade in the grey market before listing.
When is the listing date for this IPO?
The listing date for United Heat Transfer's IPO is 29 October 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
22 Oct 2024
Close
24 Oct 2024
Allotment
25 Oct 2024
Listing
29 Oct 2024
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