Mumbai, Feb. 5 -- The scrip was listed at Rs 198, a premium of 83.33% compared with the initial public offer (IPO) price. The stock was currently frozen in an upper limit of 5% over its listing price.

The counter hit a high of Rs 207.90 and a low of Rs 195. About 17.65 lakh shares of the company changed hands at the counter.

Megatherm Induction's IPO was subscribed 130.44 times. The issue opened for bidding on 29 January 2023 and it closed on 31 January 2023. The price band of the IPO was set between Rs 100 to Rs 108 per share.

The IPO comprised fresh issue of 49,92,000 shares. The promoter and promoter shareholding diluted to 72.71% from 98.92% pre-IPO.

The company intends to utilize the net proceeds for funding capital expenditure t...