KRN Heat Exchanger’s IPO is a book-built issue valued at Rs 341.95 crores. The entire issue consists of a fresh offering of 1.55 crore shares.
The KRN Heat Exchanger IPO opens for subscription on September 25, 2024, and closes on September 27, 2024. The allotment of shares is expected to be finalized on Monday, September 30, 2024. The company plans to list on both the BSE and NSE, with a tentative listing date set for Thursday, October 3, 2024.
KRN Heat Exchanger Limited operates in the HVAC&R (Heating, Ventilation, Air Conditioning, and Refrigeration) sector. The company specializes in manufacturing fin and tube-type heat exchangers primarily made from copper and aluminum. Their product portfolio includes evaporator coils, condenser coils, fluid and steam coils, and sheet metal parts12. These products are widely used in air conditioning, heating, and refrigeration applications.
The price band for the KRN Heat Exchanger IPO is set between ₹209 and ₹220 per share. Investors must apply for a minimum lot size of 65 shares, requiring a minimum investment of ₹14,300 for retail investors. For small non-institutional investors (sNII), the minimum investment is 14 lots (910 shares), totaling ₹200,200, while for large non-institutional investors (bNII), the minimum is 70 lots (4,550 shares), amounting to ₹1,001,000.
Holani Consultants Private Limited is serving as the book-running lead manager for the KRN Heat Exchanger IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
KRN Heat Exchanger IPO Details:
| Company Name | KRN Heat Exchanger Limited |
| Sector | Heating, Ventilation, Air Conditioning, and Refrigeration |
| IPO Type | Mainboard |
| IPO Open date | 25th Sep 2024 |
| IPO Close date | 27th Sep 2024 |
| OFS | |
| Listing Exchanges | NSE, BSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
KRN Heat Exchanger IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 65 | 14,300 |
| sHNI (Min) | 14 | 910 | 2,00,200 |
| bHNI (Min) | 70 | 4550 | 10,01,000 |
KRN Heat Exchanger IPO Timeline:
| IPO Open Date | 25th Sep 2024 |
| IPO Close Date | 27th Sep 2024 |
| Basis of Allotment | 30th Sep 2024 |
| Refund Initiation Date | 01st Oct 2024 |
| Shares Credit to Demat | 01st Oct 2024 |
| Listing Date | 03rd Oct 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review KRN Heat Exchanger’s financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Heating, Ventilation, Air Conditioning, and Refrigeration Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in KRN Heat Exchanger and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
