KRN Heat Exchanger IPO 2024: An Insightful Overview for Investors
The KRN Heat Exchanger IPO has become a hot topic among investors, thanks to the company’s prominent position in the HVAC&R (Heating, Ventilation, Air Conditioning, and Refrigeration) industry. Founded in 2017, KRN specializes in manufacturing fin and tube-type heat exchangers. These essential products cater to a variety of sectors, demonstrating the company’s robust foothold in the market.
KRN Heat Exchanger and Refrigeration Limited IPO seeks to raise ₹342 crore through its Initial Public Offering (IPO). The entire amount is expected to be from fresh equity shares, which the company plans to allocate towards expanding its manufacturing capabilities, as well as for general corporate purposes. Investor demand has been quite strong, with subscription rates during the offer period indicating considerable interest.
IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | September 25, 2024 |
| IPO Close Date | September 27, 2024 |
| Price Band | ₹209 to ₹220 per share |
| Lot Size | 65 shares |
| Total Issue Size | ₹341.51 crore |
| Fresh Issue | ₹341.51 crore |
| Offer for Sale | Nil |
| Issue Type | Book Built Issue |
| Listing At | BSE & NSE |
Reservation Details
| Category | Percentage of Offer |
|---|---|
| Qualified Institutional Buyers (QIB) | Not more than 50% |
| Retail Investors (RIIs) | Not less than 35% |
| Non-Institutional Investors (NII) | Not less than 15% |
Key Dates
| Event | Date |
|---|---|
| Basis of Allotment | September 30, 2024 |
| Initiation of Refunds | October 1, 2024 |
| Credit of Shares to Demat | October 1, 2024 |
| Listing Date | October 3, 2024 |
Financial Overview
| Financial Metric | Value (₹ Cr) |
|---|---|
| Total Assets | 258.36 |
| Revenue | 313.54 |
| Profit After Tax (PAT) | 39.07 |
| Net Worth | 131.65 |
| Total Borrowing | 59.69 |
Grey Market Premium (GMP)
| Date | GMP (₹) |
|---|---|
| October 2, 2024 | ₹275 |
| September 30, 2024 | ₹270 |
| September 29, 2024 | ₹250 |
As of October 2, 2024, KRN Heat Exchanger shares are trading at a Grey Market Premium of ₹275, indicating a premium of 125% over the upper price band of ₹220. Such a high premium is a testament to the strong demand and investor confidence in KRN’s market potential.
IPO Prospectus
- IPO DRHP: Click Here
- IPO RHP: Click Here
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