Megatherm Induction Ltd. has announced public offering of 4992000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 98.00 per share. The gross proceeds of the issue are expected to be Rs 5,391.36 lakhs.

The company's initial public offer (IPO) will open on 25 January 2024 and is expected to close on 30 January 2024, subject to customary closing conditions. The price band of the issue has been fixed at Rs 100.00-108.00 per share.

The IPO includes a fresh Issue of 4992000 Equity Shares of the Company at an price of Rs 108.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1200 shares with bids in multiples of 1200.

Megatherm Induction Ltd. anticipates using the proceeds of the issue for .

Hem Securities Ltd. as lead manager & Bigshare Services Private Limited. is the registrar, to the issue.