United Heat Transfer IPO: Latest GMP Hints 28% Listing Gains A Day Ahead Of Debut

Shares of United Heat Transfer Ltd. are scheduled to make their D-street debut on Oct. 29. A day before the listing on the NSE SME, the public issue is generating a lot of investor interest in the unlisted market. 

The grey market premium on the United Heat Transfer IPO stood at Rs 17 as of 9:57 a.m. on Oct. 28. As per InvestorGain, the listing price of United Heat Transfer’s shares is likely to be Rs 76, marking a 28.81% premium over the upper IPO price band of Rs 59.

Investors must note that GMP is highly speculative and may not be a true indicator of how the stock may be listed on the exchanges. 

United Heat Transfer IPO’s subscription window was open from Oct. 22 to Oct. 24. The SME issue had a price band of Rs 56 to Rs 59 per share.

United Heat Transfer IPO was booked over 83.9 times at the end of the bidding process on Oct. 24. Investors across categories applied for over 28.47 crore shares against 33.94 lakh shares offered for subscription. 

• Qualified institutional buyers: 26.56 times.

• Non-institutional investors: 125.12 times.

• Retail investors: 99.18 times.

The allotment of shares in the United Heat Transfer IPO was finalised on Oct. 25. Link Intime India Pvt. served as the registrar for the issue.

The minimum lot size for retail investors was fixed at 2,000 shares totalling an investment of Rs 1,18,000.

United Heat Transfer plans to use the money raised via the public issue to repay debt and fund incremental working capital requirements. A portion of the proceeds will also be used for general corporate purposes.

The company was incorporated in January 1995. It manufactures components such as heat exchangers, pressure vessels, and process flow skids. These products fund applications across sectors, including petrol and diesel engines, maritime vessels, mining trucks and heavy machinery.

United Heat Transfers Ltd. has two manufacturing units in Nashik, Maharashtra. 

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.