United Heat Transfer IPO - Day 3 Subscription at 49.20

United Heat Transfer's initial public offering (IPO) has garnered exceptional investor interest, with subscription rates increasing dramatically over the three-day period. Starting steadily on day one, the IPO witnessed substantial growth in demand, resulting in a 49.20 times oversubscription by 2:28:00 PM on day three.

This robust response underscores the strong market appetite for United Heat Transfer's shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 22nd October 2024, has seen significant growth in investor participation across all categories. The Retail Investors segment has shown exceptional demand, followed by strong interest from Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB).

This enthusiastic response to United Heat Transfer's IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the industrial equipment manufacturing sector. The company's specialization in heat exchangers and pressure vessels appears to have strongly resonated with investors.

Subscription Status of United Heat Transfer IPO for Days 1, 2, and 3:

Here are the subscription details for United Heat Transfer IPO as of Day 3 (24th October 2024, 2:28:00 PM):

Total Applications: 53,528

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

●    United Heat Transfer IPO is currently subscribed 49.20 times, with exceptional demand across all investor categories.
●    Retail investors have shown overwhelming interest, with a subscription ratio of 63.27 times.
●    Non-Institutional Investors (NII) have demonstrated strong enthusiasm, with a subscription ratio of 56.02 times.
●    Qualified Institutional Buyers (QIB) have shown substantial interest, with a subscription ratio of 19.66 times.
●    The overall subscription trend shows dramatic increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

United Heat Transfer IPO - Day 2 Subscription at 9.27 Times

Key Highlights:

●    Overall subscription surged to 9.27 times, showing strong momentum.
●    Retail investors showed significantly increased interest with a subscription ratio of 13.72 times.
●    Non-Institutional Investors (NII) demonstrated solid enthusiasm with 7.84 times subscription.
●    Qualified Institutional Buyers (QIB) improved to 2.61 times subscription.
●    The subscription trend indicated building momentum across all categories.

United Heat Transfer IPO - Day 1 Subscription at 2.67 Times

Key Highlights:

●    The IPO opened with a strong overall subscription of 2.67 times.
●    Non-Institutional Investors showed strong initial interest with 4.25 times subscription.
●    Retail investors demonstrated good demand with 2.52 times subscription.
●    Qualified Institutional Buyers showed solid first-day participation at 1.74 times.
●    The strong first-day response laid a solid foundation for the remaining days.

About United Heat Transfer Limited

United Heat Transfer Limited, incorporated in January 1995, manufactures essential equipment such as heat exchangers, pressure vessels, and process flow skids. The company's products are used in petrol and diesel engines, maritime vessels, mining trucks, and heavy machinery. For FY 2024, United Heat Transfer reported a revenue of ₹6,409.55 lakhs, showing a -9% year-over-year change, and a Profit After Tax (PAT) of ₹623.85 lakhs, representing a 195% increase. The company's net worth stood at ₹2,037.71 lakhs as of 31st March 2024. Key performance indicators highlight the company's financial health, with a Return on Equity (ROE) of 8.46%, Return on Capital Employed (ROCE) of 10.79%, and a PAT Margin of 11.44%.

The company operates two manufacturing units in Nashik, equipped with modern infrastructure. As of 31st July 2024, the company employed approximately 105 permanent employees and 127 contractual employees.

Highlights of the United Heat Transfer IPO

●    IPO Date: October 22, 2024 to October 24, 2024
●    Listing Date: October 29, 2024 (Tentative)
●    Face Value: ₹10 per share
●    Price Band: ₹56 to ₹59 per share
●    Lot Size: 2000 Shares
●    Total Issue Size: 5,084,000 shares (aggregating up to ₹30.00 Cr)
●    Fresh Issue: 5,084,000 shares (aggregating up to ₹30.00 Cr)
●    Issue Type: Book Built Issue IPO
●    Listing At: NSE SME
●    Book Running Lead Manager: Swastika Investmart Ltd
●    Registrar: Link Intime India Private Ltd
●    Market Maker: Swastika Investmart