United Heat Transfer IPO: NSE SME IPO Of Rs 30 Cr To Open On October 22

The cutting-edge heat exchanger equipment manufacturer United Heat Transfer Limited has announced that it will go public through an Initial Public Offering (IPO), which will open for subscription on October 22, 2024, and end on October 24, 2024. The United Heat Transfer initial public offering (IPO) is a fully fresh issuance of 50.84 lakh shares and is a book-built issue of Rs 30.00 crores at the upper price band. On Friday, October 25, 2024, the basis of share allotment for the United Heat Transfer IPO is anticipated to be completed. The proposed listing date for the United Heat Transfer IPO is Tuesday, October 29, 2024, and it will take place on the NSE SME.

The United Heat Transfer IPO's registrar is Link Intime India Private Ltd, and its book-running lead manager is Swastika Investmart Ltd. Swastika Investmart is the market maker for the debut of United Heat Transfer. Talking about equity share allocation of United Heat Transfer IPO, upto 14,34,000 equity shares are reserved for QIB Anchor portion, upto 24,08,000 equity shares are reserved for Qualified Institutional Buyers (QIB) including Anchor portion. upto 7,28,000 equity shares reserved for Non-Institutional Investors (NII), 16,92,000 equity shares reserved for Retail Individual Investors (RII) and upto 2,56,000 equity shares are kept aside for market maker.

The net proceeds from the initial public offering (IPO) will be utilised for general corporate purposes, debt repayment, and working capital requirements. On Monday, October 21, 2024, the bidding for the Anchor portion will begin. Subscriptions for all other categories will be allowed starting on Tuesday, October 22, 2024, and the issue will finish on Thursday, October 24, 2024. Anchor investors invest Rs 8.46 crore to the United Heat Transfer IPO. The IPO Anchor bid date for United Heat Transfer was October 21, 2024. For its initial public offering (IPO), United Heat Transfer has set a price band per share of between Rs. 56 and Rs. 59. Considering retail investors must apply for a minimum lot size of 2000 shares, the minimum bid amount will be Rs. 118,000.

Mr. Yogesh Patil, Chairman and Managing Director of United Heat Transfer Limited expressed "We are elated to come out with our own IPO, this is a vital decision and moment for us. This IPO will allow us to strengthen our partnerships with our diverse clients both domestically and internationally by expanding into Europe, The USA, and Asian countries. This allocation will enable us to aggressively serve and work towards our goal of becoming the preferred choice for our stakeholders."

Mr. Vivek Patil, Whole Time Director of United Heat Transfer Limited said "The Heat Exchanger Equipment industry has carved out its niche and now we have successfully expanded our clientele globally, our steady growth can be only accounted for by our motivation to strive for excellence in every aspect of our working. We have always kept our initiatives to create a sustainable living and creating an ecological impact at utmost priority, which resonates with our clients the most. With this IPO we want to expand our initiatives by serving more and more sectors."

Mr. Sunil Nyati, MD, Swastika Investmart Ltd. "We are delighted to support United Heat Transfer Limited towards their journey to the public markets. The company's commitment to innovation and sustainability in the heat exchanger industry has positioned them as leaders, and this IPO marks a significant milestone for its growth. We are confident that this offering will unlock new opportunities for the company and its stakeholders."

The company's revenue for FY24 was Rs 60.19 crores. The company's revenue up to July FY 2024-25 was Rs 21.2 crores. United Heat Transfer Limited is a leading engineering and manufacturing business, founded in 1995 and headquartered in Nashik. In order to serve a wide range of industries like Marine & Shipbuilding, Process and Power, Shipping, Oil & Gas, Petrochemicals, Food & Beverages, and Refineries, it is a leading manufacturer of Shell & Tube Heat Exchangers, Air Cooled Heat Exchangers, Marine Heat Exchangers, Moisture Separators, Automatic Backflush Filters, and Process Flow Skids.