The subscription period for the KRN Heat Exchanger & Refrigeration IPO is set to begin on September 25, 2024, and end on September 27, 2024. Without making a secondary offer, the corporation is offering 1.55 billion new common shares in total.
The revenues will go toward helping the company’s affiliate, KRN HVAC Products, establish a new manufacturing facility in Neemrana, Rajasthan. September 24, 2024, is the day the bids for anchor investors will be accepted. Bigshare Services Pvt Ltd will serve as the registrar for the IPO, and Holani Consultants Private Limited will serve as the lead manager.
The allotment is expected to be completed on September 30, 2024, with the tentative listing date on the BSE and NSE being October 3, 2024. The price band for the IPO has not yet been announced. Moreover, the company recently raised Rs 9,540 crore through a pre-IPO issue of 4,770 million shares at Rs 200 per share, resulting in a reduction in the fresh issue size by 4,770 million shares.
KRN Heat Exchanger IPO Details:
| IPO Open Date: | September 25, 2024 to September 27, 2024 |
| Face Value: | ₹10 per share |
| IPO Price Band: | ₹209 to ₹220 per share |
| Issue Size: | 15,543,000 shares (aggregating up to ₹341.95 Cr) |
| Fresh Issue: | 15,543,000 shares(aggregating up to ₹341.95 Cr) |
| Offer for Sale: | – |
| Employee Discount: | – |
| Issue Type: | Book Built Issue IPO |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 50% |
| QIB Quota: | Not more than 20% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Day-wise IPO GMP Trend – KRN Heat Exchanger IPO
| GMP Date | IPO Price | GMP | Estimated Listing Price |
|---|---|---|---|
| 01-10-2024 | 220.00 | ₹245 | ₹465 (111.36%) |
| 30-09-2024 (Allotment) | 220.00 | ₹270 | ₹490 (122.73%) |
| 29-09-2024 | 220.00 | ₹270 | ₹490 (122.73%) |
| 28-09-2024 | 220.00 | ₹275 | ₹495 (125%) |
| 27-09-2024 (Close) | 220.00 | ₹276 | ₹496 (125.45%) |
| 26-09-2024 | 220.00 | ₹274 | ₹494 (124.55%) |
| 25-09-2024 (Open) | 220.00 | ₹239 | ₹459 (108.64%) |
| 24-09-2024 | 220.00 | ₹239 | ₹459 (108.64%) |
| 23-09-2024 | 220.00 | ₹240 | ₹460 (109.09%) |
| 22-09-2024 | 220.00 | ₹223 | ₹443 (101.36%) |
| 21-09-2024 | 220.00 | ₹223 | ₹443 (101.36%) |
| 20-09-2024 | 220.00 | ₹223 | ₹443 (101.36%) |
| 19-09-2024 | NA | ₹225 | ₹225 (%) |
| 18-09-2024 | NA | ₹225 | ₹225 (%) |
| 17-09-2024 | NA | ₹225 | ₹225 (%) |
| 16-09-2024 | NA | ₹215 | ₹215 (%) |
KRN Heat Exchanger IPO Market Lot:
| Category | Minimum Lot Size | Shares | Application Amount |
|---|---|---|---|
| Retail Minimum | 1 | 65 | ₹14,300 |
| Retail Maximum | 13 | 845 | ₹185,900 |
| S-HNI Minimum | 14 | 910 | ₹200,200 |
| B-HNI Minimum | 70 | 4,550 | ₹1,001,000 |
KRN Heat Exchanger IPO Dates:
- IPO Open Date:25, September 2024
- IPO Close Date:27,September 2024
- Basis of Allotment: 30, September 2024
- Refunds: 1, October 2024
- Credit to Demat Account: 3, October 2024
- IPO Listing Date: 2024
ABOUT: KRN Heat Exchanger
One of the top producers of fin and tube heat exchangers for the HVAC&R sector is KRN Heat Exchanger and Refrigeration Limited. Condenser coils, evaporator units, and other parts are among the company’s offerings. These parts are mainly composed of copper and aluminum and are produced to customer requirements with tube diameters varying from 5 mm to 15.88 mm.
Applications for KRN’s products include medical equipment, food and beverage cooling, commercial and residential air conditioners, and specialized cooling systems for data centers. The business coats vital components with cutting-edge protective coatings, like powder and nano coatings, to guarantee longevity and effectiveness.
KRN’s expansive manufacturing facility is located in the RIICO Industrial Estate in Neemrana, Rajasthan. The newest technology is installed in these facilities to ensure that high standards of quality and productivity are maintained. A number of significant certifications, such as ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, are held by KRN and attest to its dedication to environmental and quality management.
KRN Heat Exchanger Performance (in ₹ Crores).
| Year | Revenue | Expense | Assets | PAT |
|---|---|---|---|---|
| 2022 | ₹158.23 | ₹143.26 | ₹92.79 | ₹10.59 |
| 2023 | ₹249.89 | ₹204.39 | ₹148.76 | ₹32.31 |
| 2024 | ₹313.54 | ₹257.81 | ₹258.36 | ₹39.07 |
KRN Heat Exchanger IPO Valuation (FY2023):
- EPS: ₹57.96 per Equity Share
- P/E Ratio: N/A (not yet listed)
- RoNW: 23.48
- NAV: ₹246.82 per Equity Share
Peer Group
There are no firms listed in India that are closely similar to the particular business segment in which KRN Heat Exchanger and Refrigeration Limited works.
KRN Heat Exchanger Company Promoters:
- Mr. Santosh kumar Yadav
- Mrs.Anju Devi, and
- Mr. Manohar Lal
Lead Managers of KRN Heat Exchanger:
- Holani Consultants Pvt. Ltd.
KRN Heat Exchanger IPO Company Address:
KRN Heat Exchanger and Refrigeration Limited
Plot No. F – 46, 47, 48, 49 EPIP,
RIICO Industrial Area,
Neemrana, Alwar
Phone: +91 – 9257025440
Email: cs@krnheatexchanger.com
Website: http://www.krnheatexchanger.com/
KRN Heat Exchanger IPO FAQs:
What is KRN Heat Exchanger & Refrigeration IPO?
KRN Heat Exchanger & Refrigeration IPO is a book-building IPO. The IPO is available from 25th September 2024 to 27th September 2024.
When will KRN Heat Exchanger & Refrigeration IPO be allotted?
The allotment will take place on Monday 30th September 2024.
When will KRN Heat Exchanger and Refrigeration IPO start accepting pre-orders?
The subscription period for the IPO will open on September 25, 2024.
What is the minimum lot size that a retail investor can subscribe for?
The minimum lot size that a retail investor can subscribe for is one lot and the lot size is yet to be announced.
When will KRN Heat Exchanger and Refrigeration Limited be listed?
The listing date of KRN Heat Exchanger and Refrigeration is Thursday, October 3, 2024.
What will be the listing gains from the IPO of KRN Heat Exchanger and Refrigeration?
The listing gains cannot be determined until the IPO is listed on the stock exchange.