The United Heat Transfer IPO, which aims to raise ₹30 crore through a fresh offering of 50.84 lakh shares, is garnering a lot of attention from the financial sector. This book-built issue, which is available for subscription from October 22 to October 24, 2024, targets both retail and institutional buyers and has a price range of ₹56 to ₹59 per share.
The initial public offering (IPO), which is tentatively scheduled for October 29, 2024 on NSE SME, is a stepping stone for United Heat Transfer's efforts to increase its market share as well as an opportunity for investors.
We will examine the main points of an initial public offering (IPO), its format, and the consequences for potential investors in this article.
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United Heat Transfer IPO Details
The book built United Heat Transfer IPO aims to raise ₹30 crore. With a price range of ₹56 to ₹59 per share, the issue consists of a fresh offer of 50.84 lakh shares. The initial public offering (IPO) will close today, October 24, 2024, after opening for subscription on October 22, 2024. With a tentative listing date on NSE SME on Tuesday, October 29, 2024, the share allotment is expected to be determined by Friday, October 25, 2024.
Investment Specifications
For investors wishing to participate, the minimum lot size is 2,000 shares, which means the minimum investment required for retail investors is ₹118,000. High Net Worth Individuals (HNIs) must apply for a minimum of 4,000 shares (2 lots), which equates to an investment of ₹236,000.
IPO Allotment Structure
The allotment is structured to cater to various investor categories:
- Qualified Institutional Buyers (QIBs): 9,74,000 shares (19.16%)
- Non-Institutional Investors (NIIs): 7,28,000 shares (14.32%)
- Retail Individual Investors (RIIs): 16,92,000 shares (33.28%)
- Anchor Investors: 14,34,000 shares (28.21%)
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United Heat Transfer IPO Anchor Investors
United Heat Transfer received ₹8.46 crore from anchor investors on October 21, 2024, before the IPO opened. This portion consists of 14,34,000 shares. The lock-in period for 50% of these shares will end on November 24, 2024, while the lock-in period for the remaining shares will end on January 23, 2025.
IPO Timeline and Important Dates
The timeline for the United Heat Transfer IPO is as follows:
- IPO Open Date: October 22, 2024
- IPO Close Date: October 24, 2024
- Basis of Allotment: October 25, 2024
- Initiation of Refunds: October 28, 2024
- Credit of Shares to Demat: October 28, 2024
- Listing Date: October 29, 2024
Promoter Holding in United Heat
Ms. Durva Yogesh Patil, Mr. Satanik Vivek Patil, Mr. Vivek Vishwanath Patil and Mr. Yogesh Vishwanath Patil are the promoters of United Heat Transfer. Their shareholding will reduce from 91.59% to 67.09% post the IPO issue.
Disclaimer
The article is only for information purposes, we are not giving any advice to invest or purchasing any share. Kindly do take advice with a certified financial adviser before making any investment in the share market.
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