KRN Heat Exchanger Share Price: Despite the extremely bearish market, KRN Heat Exchanger is listed at a strong premium of 114% on BSE and 118% on NSE. The bullish trend continues. KRN is trading as a small cap. KRN bagged a robust subscription of 213.41x during its Rs 341.95 crore IPO.
KRN Heat Exchanger And Refrigeration Share Price On BSE:
On BSE, KRN stock opened at Rs 470 apiece, at a premium of 113.6% from its IPO issue price of Rs 220. The stock touched a 52-week high of Rs 513.40 apiece, resulting in an overall upside of 133.36%.
At the time of writing, KRN stock is up by 125.14% to Rs 495.30 apiece from its IPO issue price. From its opening price, the stock gained by over 5%. Its market cap is around Rs 3,075.20 crore.
KRN is listed and admitted to dealings on the Exchange in the list of ''B'' Group Securities on BSE.
KRN Heat Exchanger And Refrigeration Share Price NSE:
The stock opened at a 118.18% premium on NSE to Rs 480 compared to its IPO issue price. Further, it touched a 52-week high of Rs 513.40 apiece, skyrocketing by an overall 133.34%.
Currently, the stock is up by 6.5% from its opening price and traded at Rs 513.40 apiece. Here, it has a market cap of Rs 3,185.34 crore.
What Should Investors Do?
Prashanth Tapse, Senior VP (Research), Mehta Equities said, "Despite market selloff, KRN Heat Exchanger listing was in line with our expectations which was on the back of bumper subscription response from all sets of investors."
Tapse added, "For allotted investors, we had recommended to book profits as we believe post listing the valuations can over stretch on a higher side discounting all the medium-term business growth visibility. For non-allottees, it would be better to wait and watch for the price to settle."
KRN Heat Exchangers manufactures fin and tube-type heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration Industry (HVAC&R). Heat exchangers manufactured by KRN are made of non-ferrous metals, primarily copper and aluminium. The product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils, and sheet metal parts. KRN manufactures heat exchangers of various shapes and sizes as per the customers' requirements and/or the demand in the market.
KRN opened its 100% book building IPO on September 25 to September 27. The IPO was purely fresh issue of Rs 341.95 crore, with 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.
Click it and Unblock the Notifications
Sign in with Google