Megatherm Induction Ltd. News, Corporate filings and Earnings/Conference Calls

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Megatherm Induction Ltd.

05 Feb 2024

317.00

-3.25%

Megatherm Induction shares list at 108% premium over issue price

Economic Times

Megatherm Induction's shares listed with a 108.3% premium on the NSE SME platform, debuting at Rs 220 compared to the issue price of Rs 108. The IPO was a fresh equity issue of Rs 54 crore, funding the construction of factory shed, working capital requirements, and general corporate purposes. Megatherm Induction manufactures induction heating and melting products, including electric arc furnaces for alloys and special steel making industries. They also provide turnkey solutions for steel plants and have a strong presence in the secondary steel sector.

Megatherm Induction Ltd. is trading below its 30 day SMA of 346.5