KRN Heat Exchanger and Refrigeration Ltd. IPO

KRN Heat Exchanger IPO Oversubscribed Within Minutes on 25th September

The Initial Public Offering (IPO) for KRN Heat Exchanger, launched on September 25, was met with overwhelming demand, being fully subscribed within  minutes of its opening. The IPO received bookings for 11.45 times the number of shares offered, with the retail category being oversubscribed by 12.32 times and the NII segment by over 24 times. Additionally, the company secured Rs 100.10 crore from anchor investors.

Based in Rajasthan, KRN Heat Exchanger is offering its shares at a price band of Rs 209-220 per share. Investors can apply for a minimum of 65 shares and multiples thereof. The book-built IPO, which consists entirely of fresh equity shares and has no offer for sale component, will close on September 27. As per reports ,as of Wednesday afternoon, the issue had seen an overall subscription of 21.25 times. A report from Livemint says that the recent grey market premium (GMP) for the KRN Heat Exchanger IPO has reached ₹239. Given the current trend in GMPs and the issue price, the stock is anticipated to list at a premium of 108.64%, potentially reaching ₹459 on the Indian stock exchanges.

As per latest updates, the organization plans to utilize the earnings from the IPO to invest in its subsidiary, KRN HVAC Products, for the establishment of a new manufacturing facility in Neemrana, Rajasthan and for general corporate purposes.

⏱ 25 September 2024

KRN Heat Exchanger Launches IPO; Listing on BSE, NSE on October 3rd

KRN Heat Exchanger and Refrigeration Limited is set to launch an Initial Public Offering (IPO) on September 25, 2024, and conclude on September 27, 2024. The allotment of shares is anticipated to be finalized on September 30, 2024. KRN Heat Exchanger shares are scheduled to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 3, 2024.

The IPO is expected to  raise Rs 341.95 crores and consists entirely of fresh equity shares of 1.55 crore. The price band for the IPO has been established at Rs. 209 to Rs. 220 per share. Investors can bid for a minimum of 65 shares and in multiples thereof. Retail investors can participate with a minimum investment of Rs.14,300 (65 shares). High Net-Worth Individuals (HNIs) are required to invest a minimum of Rs. 200,200 (910 shares), while Qualified Institutional Buyers (QIBs) must invest a minimum of Rs.1,001,000 (4,550 shares).

KRN Heat Exchanger and Refrigeration Ltd is a manufacturer of high-quality fin and tube-type heat exchangers. Specializing in copper and aluminum fin and tube heat exchangers, water coils, condenser coils, and evaporator coils, KRN Heat Exchanger aims to cater to diverse heating, ventilation, air conditioning, and refrigeration (HVAC&R) applications. The promoter holdings of the company are owned by Mr.

Santosh Kumar Yadav, Mrs. Anju Devi, and Mr. Manohar Lal.

⏱ 21 September 2024