United Heat Transfer Limited Announces IPO to Elevate Sustainability Initiatives

Mumbai-based United Heat Transfer Limited is set to launch an IPO on October 22, 2024, to raise approximately 2999.56 Lakhs. The funds will support capital requirements, debt repayment, and corporate growth. The company emphasizes sustainability and aims for international expansion with this significant market move.

United Heat Transfer Limited, based in Mumbai, is poised to enter the public market with an Initial Public Offering (IPO) scheduled for October 22, 2024. The company is aiming to raise about 2999.56 Lakhs, with shares being listed on the NSE Emerge platform.

The IPO will see the issuance of 50,84,000 equity shares, with allocations for Qualified Institutional Buyers, Non-Institutional Investors, Retail Individuals, and Market Makers. Proceeds will be channelled into working capital, debt repayment, and general corporate purposes.

Chairman and Managing Director, Mr. Yogesh Patil, emphasized the strategic importance of the IPO in expanding United Heat Transfer's global reach, particularly into Europe, the USA, and Asia, reinforcing the firm's commitment to sustainability and innovation.

(With inputs from agencies.)