United Heat Transfer IPO Hits 23.21x Subscription Rate on Day 3 at 11:44 AM

The United Heat Transfer IPO, one of the upcoming IPOs in the market, opened for subscription on October 22, 2024, and will close today, October 24, 2024. The allotment for this IPO is expected to be finalised on tomorrow, October 25, 2024. The shares are expected to be listed on Tuesday, October 29, 2024, on NSE SME.

This IPO is a book-built issue totalling ₹30.00 crores, consisting entirely of a fresh issue of 50.84 lakh shares. The price band for the United Heat Transfer IPO is set between ₹56 and ₹59 per share, with a minimum application lot size of 2,000 shares. Retail investors need to invest a minimum of ₹1,18,000 to participate.

The company intends to use the net proceeds from the fresh issue towards debt repayment, to meet incremental working capital requirements and for general corporate purposes. 

As of October 24, 2024, at 10:28 AM, the United Heat Transfer IPO GMP is ₹31.

United Heat Transfer IPO Subscription Status

• As of Day 1, October 22, 2024, United Heat Transfer IPO has been subscribed 2.67 times. The retail category was subscribed 2.52 times, 1.74 times for Qualified Institutional Buyers (QIB), and 4.25 times for Non-Institutional Investors (NII).
• As of Day 2, October 23, 2024, United Heat Transfer IPO has been subscribed 9.27 times. The retail category was subscribed 13.72 times, 2.61 times for QIB, and 7.84 times for NII.
• As of Day 3, October 24, 2024, at 11:44 AM, United Heat Transfer IPO has been subscribed 23.21 times. The retail category was subscribed 32.94 times, 9.58 times for QIB, and 18.82 times for NII.

About United Heat Transfer Limited

United Heat Transfer is involved in the manufacturing of a range of shell and tube heat exchangers, pressure vessels, air-cooled heat exchangers and process flow skids equipment. These are used as critical equipment for petrol and diesel engines, maritime engines, railway engines, ferries, cruise and cargo ships, marine diesel, pleasure boats, mining trucks, megayachts, fishing boats, heavy engines, heavy trucks, trawlers, freighters, heavy haulages, supertankers, off-highway engines, power gen sets, etc.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.