United Heat Transfer Limited is proud of its strong commitment to excellence and innovation in the heat exchanger equipment industry. The company is currently offering its Initial Public Offering (IPO), aiming to raise a total of ₹29.99 crores through a fresh issue of 50.84 lakh shares. The subscription period for the United Heat Transfer IPO is open from October 22 to October 24, 2024, with allotment expected to be finalized on or around October 25, 2024. The shares will be listed on the NSE SME by approximately October 29, 2024.

The share price band for this IPO is set between ₹56 and ₹59 per equity share. At the upper price point, United Heat Transfer’s market capitalization will be approximately ₹112.12 crores. The lot size for this IPO is 2,000 shares, meaning retail investors must invest a minimum of ₹1,18,000, while High-Net-Worth Individuals (HNIs) are required to invest in 2 lots (4,000 shares), totaling ₹2,36,000.

The IPO is managed by SWASTIKA INVESTMART LIMITED as the book-running lead manager, and LINK INTIME INDIA PRIVATE LIMITED serves as the registrar for the issue. Swastika Investmart Limited will also act as the Market Maker for the United Heat Transfer IPO.

United Heat Transfer Limited IPO Grey Market Premium (GMP)

The current Grey Market Premium (GMP) for United Heat Transfer is reported at ₹19, indicating potential price appreciation based on the company’s financial performance. However, it is essential to recognize that trading based on GMP can lead to unreliable price discoveries due to its unregulated nature.

United Heat Transfer Limited IPO Live Subscription Status Today

As of 6:19 PM on October 24, 2024, the United Heat Transfer IPO has been subscribed 77.90 times on its final day of the subscription period. Investors can check the live subscription status on the NSE website.

United Heat Transfer Limited IPO Anchor Investors Report

United Heat Transfer has successfully raised ₹8.46 crores from anchor investors at a price of ₹59 per share, allocating 14,34,000 equity shares to these investors. These shares are drawn from the Qualified Institutional Buyers (QIBs) reservation portion.

United Heat Transfer Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online

The allotment date for the United Heat Transfer IPO is scheduled for October 25, 2024. To check your allotment status, follow these steps:

• Navigate to the IPO allotment status page.
• Select United Heat Transfer Limited IPO from the dropdown list of IPOs.
• Enter your application number, PAN, or DP Client ID.
• Submit the details to check your allotment status.

These steps enable investors to efficiently confirm their allotment status and proceed accordingly.

Objectives of United Heat Transfer Limited IPO

The proceeds from the fresh issue will be allocated towards:

1. ₹573.38 lakhs for repayment of debt.
2. ₹1,400.00 lakhs to meet incremental working capital requirements.
3. General corporate purposes.

United Heat Transfer IPO Review

United Heat Transfer Limited is committed to excellence and innovation, specializing in heat exchanger equipment. The company’s management team is composed of experienced professionals, including:

• Mr. Yogesh Vishwanath Patil, with over 29 years in production, commercial, and finance within the heat exchanger industry.
• Mr. Vivek Vishwanath Patil, also with over 29 years of experience in design, marketing, and administration.
• Ms. Durva Yogesh Patil, possessing eight years of entrepreneurial experience.
• Mr. Shatanik Vivek Patil, with 2.5 years of experience, currently serving as Director at a group company.

For the four-month period ending July 31, 2024, United Heat Transfer reported revenues from operations of ₹2,120.01 lakhs. For the fiscal years 2024, 2023, and 2022, revenues were ₹6,409.55 lakhs, ₹7,040.15 lakhs, and ₹4,796.11 lakhs, respectively. The EBITDA for the same four-month period was reported as ₹527.51 lakhs, while profit after tax stood at ₹242.53 lakhs.

In terms of valuation, United Heat Transfer is issuing shares at a pre-issue EPS of ₹4.89 and a post-issue EPS of ₹3.28. The pre-issue P/E ratio is noted at 12.06x, and the post-issue P/E ratio at 17.98x, compared to the industry P/E ratio of 30.38x. The Return on Capital Employed (ROCE) for FY24 is 31.77%, and the Return on Equity (RoE) is 30.62%, indicating that the IPO is fairly priced.

The Grey Market Premium reflects potential listing gains of 32%, and given the company’s solid financial performance and valuation metrics, we recommend risk-tolerant investors to consider applying for the United Heat Transfer Limited IPO for potential listing gains or long-term investment.

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