KRN Heat Exchanger IPO: The leading manufacturer and exporter specializing in aluminium / copper fins and copper tubes heat exchangers, KRN Heat Exchanger is set to list on October 3, 2024. The latest grey market premium (GMP) signals a triple-digit percentage listing on BSE and NSE.
KRN Heat Exchanger IPO GMP:
As per Investor Grain data, KRN Heat Exchanger IPO's last GMP is Rs 248, last updated Oct 2nd 2024 11:31 PM. With a price band of 220.00, KRN Heat Exchanger IPO's estimated listing price is Rs 468 (cap price + latest GMP). The expected percentage gain/loss per share is 112.73%.
If KRN lists at a triple-digit percentage, then it would be one of the best IPOs listed in September 2024.
What Is GMP, And Is It Important? According to Nirmal Bang's website, Grey Market IPO is an unofficial market where individuals buy/sell IPO shares or applications before they are officially launched for trading on the stock exchange. As it is an unofficial over-the-counter market, there are no regulations around it. All transactions are done in cash on a personal basis. Any 3rd party firms like SEBI, Stock Exchange or Brokers are not involved or back this transaction.
Grey market trading is done among a small set of people as there is no official platform or rules defined for this trading. Two popular terms used in the IPO grey market are 'Grey Market Premium' and ' Kostak', the brokerage's website said.
KRN is going to be listed on BSE and NSE. The company has already carried its shares allotment and identified eligible shareholders for the same.
If you have not checked your allotment status, then here's where you can find it:
To Check the Application Status On Bigshare Services, Click On The Link Below:
KRN opened its 100% book-building IPO on September 25 to September 27. The IPO was purely a fresh issue of Rs 341.95 crore, with a price band of Rs 209 apiece to Rs 220 apiece. The IPO overall subscribed by a whopping 213.41x driven by all category investors such as QIBs, NIIs and retail investors.
KRN is focused on utilizing its core strengths for expanding operations in existing as well s new markets.
To increase its global footprint, KRN's strategy is focused on introducing new product designs to cater to the requirements of its customers as well as garnering the attention of more customers. In its RHP, KRN has said that this helps strengthen the relationship with the existing customer network through a wide range of products while also onboarding new customers from untapped geographies. Identifying and developing new products and designs is a continuous exercise that its management team engages in as there is an immense demand in the global markets for unique designs, good quality and competitively priced products.
KRN Heat Exchanger is engaged in the business of manufacturing aluminium and copper fin -copper tube condenser and evaporator coils used by OEMs in the heating, ventilation, air conditioning, and refrigeration (HVAC&R) industry.
The company's sales increased from ₹15,611.46Lakhs in FY22 to ₹30,828.31Lakhs in FY 24growing at a CAGR of 25.46%.
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