KRN Heat Exchanger IPO: The Rs 342 crore IPO of the leading manufacturer and exporter of aluminium and heat exchangers, KRN has oversubscribed by a whopping 213.41 times on the final day of bidding. The next big event in the IPO is the shares allotment which is likely to take place next week. The latest GMP of KRN hints at a healthy listing on BSE and NSE.
KRN Heat Exchanger IPO Allotment Status:
The basis of allotment of KRN Heat Exchanger IPO is likely to take place on September 30. This will be followed by the initiation of refunds and credit of shares to eligible shareholders' demat accounts on October 1, 2024.
Investors can check their application status on BSE, NSE and the registrar of the IPO i.e. Bigshare Services.
To Check the Application Status On Bigshare Services, Click On The Link Below:
On the final day of the offer, which is September 27, KRN Heat Exchanger IPO oversubscribed by 213.41x. The portion reserved for qualified institutional buyers (QIB) category oversubscribed by 253.04x, while the portion for non-institutional investors (NII) category received the highest bidding with an oversubscription of 430.54x. Also, the portion reserved for the retail investors individuals (RII) category was oversubscribed by 96.74 times.
The IPO opened on September 25 and closed on September 27. The price band for the IPO was fixed at Rs 209 per share to Rs 220 per share.
KRN Heat Exchanger GMP Today:
As per Investor Grain data, KRN Heat Exchanger IPO's last GMP is ₹276, last updated Sep 28th 2024 09:54 AM. With a price band of 220.00, KRN Heat Exchanger IPO's estimated listing price is ₹496 (cap price + today's GMP). The expected percentage gain/loss per share is 125.45%.
KRN Heat Exchanger IPO Listing:
The proposed equity shares in KRN Heat IPO are expected to be listed on October 3 on BSE and NSE.
KRN Heat's revenue grew at a CAGR of 25.46% to INR 3082.83 million in FY24 from FY22. EBITDA grew at a CAGR of 21.53% to INR 584.52 million in FY24 from FY22 and PAT grew at 55% CAGR to INR 390.69 million during the same period.
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 requirements of the customers and/or demand in the market.
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