KRN Heat Exchanger IPO Opens Today: What You Need to Know?

The KRN Heat Exchanger IPO opened for bidding on September 25, 2024, and will close on September 27, 2024. KRN Heat Exchanger IPO is a book-built issue of ₹341.95 crore. The issue is entirely a fresh issue of 1.55 crore shares. The price band for KRN Heat Exchanger IPO has been set at ₹209 to ₹220 per share. The minimum lot size for an application is 65 Shares, with a minimum amount of investment required by retail investors is ₹14,300. KRN Heat Exchanger has appointed Holani Consultants Private Limited as the book-running lead manager, while Bigshare Services Pvt Ltd is the registrar for the issue.

On September 25, 2024, at 11:33 AM, KRN Heat Exchanger IPO subscribed 6.23 times. The public issue subscribed 7.22 times in the retail category, 0.01 times in the QIB category, and 12.03 times in the NII category.

Purpose of  KRN Heat Exchanger IPO

The net proceeds from the fresh issue have been proposed to be utilised for the following;

• Invest in the wholly owned subsidiary, KRN HVAC Products Pvt Ltd, to set up a new manufacturing facility at Neemrana, Alwar, Rajasthan.
• General corporate purposes.

KRN Heat Exchanger IPO GMP

KRN Heat Exchanger IPO’s last GMP stood at ₹239 on September 25, 2024, 09:56 AM. The KRN Heat Exchanger IPO’s estimated listing price is estimated to be ₹459 with a price band of ₹220.00, The expected percentage gain/loss per share is 108.64%.

About KRN Heat Exchanger Limited

KRN Heat Exchanger and Refrigeration is engaged in the manufacturing of fin and tube-type heat exchangers. The company produces water coils, condenser coils, evaporator coils, copper and aluminium fins, and copper tube heat exchangers. It is capable of producing heat exchanger tubes with a diameter ranging from 5 mm to 7 mm, 9.52 mm, 12.7 mm, and 15.88 mm. 

The HVAC (heating, ventilation, air conditioning, and refrigeration) industry uses all of the items that are offered, whether they are used in a home or business. The company also export products overseas to countries including UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, and more.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.