711,600 Equity Shares of Megatherm Induction Limited are subject to a Lock-Up Agreement Ending on 1-MAY-2024. These Equity Shares will be under lockup for 90 days starting from 1-FEB-2024 to 1-MAY-2024.

Details:
Pursuant to Regulation 236 and 238 of SEBI (ICDR) Regulations, 2018, an aggregate of 20.00% of the post issue capital held by the promoters shall be considered as Promoter?s Contribution (?Promoters Contribution?) and shall be locked-in for a period of three years from the date of allotment of Equity Shares issued pursuant to this Issue. Promoter, Megatherm Electronics Private Limited, have given written consent to include 38,20,000 Equity Shares held by them as part of Promoters Contribution constituting such percentage of the post issue Equity Shares of the Company. Further, they have agreed not to sell or transfer or pledge or otherwise dispose of in any manner, the Promoters contribution, for a period of three years from the date of allotment in the Issue.

In terms of Regulation 238(b) and 239 of the SEBI (ICDR) Regulations, 2018, in addition to the Minimum Promoters contribution which is locked in for three years, the entire pre-issue Equity Shares share capital constituting 1,00,28,729 Equity Shares shall be locked in for a period of one year from the date of allotment of Equity Shares in this Issue.

50% of the anchor allocation is locked-in for 30 days until March 15, 2024 and remaining is locked-in for 90 days until June 14, 2024.