An initial public offering (IPO) of Rs 341.95 crores is scheduled to be launched by KRN Heat Exchanger. 1.55 crore shares are being offered fully fresh in this issue. September 25, 2024 marked the start of the KRN Heat Exchanger IPO bidding process, which ended on September 27, 2024. On Monday, September 30, 2024, the allocations are anticipated to be finalized. The shares are expected to go on sale on Thursday, October 3, 2024, at both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO’s price range is set at Rs 209 to Rs 220 per share.
KRN Heat Exchanger IPO Subscription Status
September 27, the last day of the offer, had a 213.41x oversubscription for KRN Heat Exchanger IPO. The section designated for non-institutional investors (NII) category saw the largest bidding, with an oversubscription of 430.54x, while the portion earmarked for qualified institutional buyers (QIB) category exceeded by 253.04x. Furthermore, there was a 96.74-fold oversubscription to the component designated for the retail investors people (RII) group.
KRN Heat Exchanger IPO Details
| IPO Open Date | September 25, 2024 |
| IPO Close Date | September 27, 2024 |
| Listing Date | Thursday, October 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹209 to ₹220 per share |
| Lot Size | 65 Shares |
| Total Issue Size | 15,543,000 shares
(aggregating up to ₹341.95 Cr) |
| Fresh Issue | 15,543,000 shares (aggregating up to ₹341.95 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
KRN Heat Exchanger Financial
| FY 2024 | |
| Assets | 258.36 |
| Revenue | 313.54 |
| Profit After Tax | 39.07 |
| Net Worth | 131.65 |
| Total Borrowing | 59.69 |
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| RoNW | 29.68% |
| PAT Margin (%) | 12.67 |
About the Company – KRN Heat Exchanger
A leading producer of fin and tube heat exchangers, KRN Heat Exchanger and Refrigeration offers a variety of heat exchanger tubes with diameters ranging from 5 mm to 15.88 mm as well as copper and aluminum fins. In the HVAC&R business, its products—such as water coils, condenser coils, and evaporator coils—are extensively utilized in the residential, commercial, and industrial domains. Among their principal patrons are Daikin, Schneider Electric, Kirloskar, Blue Star, and additional companies. The business exports to the United Arab Emirates, the United States, Italy, Saudi Arabia, and Germany.
