United Heat Transfer Limited successfully closes IPO, securing a subscription of Rs. 1,677.5 crores
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
United Heat Transfer Limited (UHTL), a leading manufacturer of advanced heat exchanger equipment, announced the successful closing of its initial public offering (IPO), which was oversubscribed by 77+ times. The offering attracted remarkable investor interest, generating a total gross demand of Rs.1677.5 Crores.
The IPO offered 50,84,000 shares with a face value of Rs.10 each, available to eligible investors. The IPO was in strong demand across all segments, with the retail tranche subscribed 98.93 times, the non-institutional investor (NII) tranche 124.72 times, the market maker tranche 1 time, and the qualified institutional buyer (QIB) tranche for 26.56 times.
This exceptional response reflects the high demand for UHTL's shares and is a testament to the company’s robust business fundamentals, innovative products, and promising growth outlook.
The company is set to be listed on the NSE Emerge on October 29, 2024.
UHTL is committed to strategically deploying these funds to support debt repayment, address general corporate purposes which will then accelerate its growth initiatives and solidify its position as a leader in the heat exchanger industry. Additionally, the IPO strengthens the company’s visibility and credibility, attracting a broader spectrum of investors and stakeholders.
UHTL is committed to strategically deploying these funds to accelerate its growth initiatives and strengthen its position as a leader in the heat exchanger industry.
Above views are of the author and not of the website kindly read disclaimer
