United Heat Transfer Makes a Muted Debut at ₹60.95, 3.3% Premium on NSE SME – Get the Full DetailsUnited Heat Transfer Makes a Muted Debut at ₹60.95, 3.3% Premium on NSE SME – Get the Full Details

United Heat Transfer’s IPO had a modest debut on Tuesday, October 29, with shares listing at ₹60.95 on NSE SME, marking a 3.3% premium over the issue price of ₹59. This slight gain indicates a muted start for the company’s market entry.

United Heat Transfer’s IPO saw strong demand after three days of bidding, with a subscription rate of 83.70 times. It received 28.40 crore bids against 33.94 lakh shares available. Retail investors subscribed 98.93 times, non-institutional investors (NII) 124.72 times, and qualified institutional buyers (QIB) 26.56 times.

Since 1995, the company has specialized in manufacturing shell and tube heat exchangers, air-cooled heat exchangers, pressure vessels, and process flow skids. These critical components are used in petrol and diesel engines, railway and marine engines, mining trucks, heavy machinery, and power gen sets. It operates two state-of-the-art manufacturing facilities in Nashik.

The primary objective of United Heat Transfer’s IPO is to raise capital for business expansion, working capital needs, and general corporate purposes. The funds will support the company’s growth initiatives, allowing it to strengthen its operational and financial capacity.