KRN Heat Exchanger and Refrigeration Limited IPO (KRN Heat Exchanger IPO) Detail
KRN Heat Exchanger and Refrigeration IPO: If you are thinking of betting on an Initial Public Offering i.e. IPO, then there is news of work for you. Next week, the IPO of another company will open for investment. This IPO is of KRN Heat Exchanger and Refrigeration Limited. This IPO will open from 25th September and investors can invest money in this issue till 27th September. According to the IPO document, anchor investors will be able to bid on 24th September.
What is the ongoing GMP?
KRN Heat Exchanger & Refrigeration Limited IPO is available in the grey market at a premium of Rs. 215. The company’s shares may be listed on October 3. The company has not yet announced the price band for its IPO. The IPO consists of a fresh issue of only 1.55 crore equity shares by the company, with no offer for sale. Therefore, the entire issue proceeds will be received by the company. The company has spent Rs. 36.44 crore for the said manufacturing facility as of July 15.
KRN Heat Exchanger IPO Details
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date | [.] |
| 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 |
| Share holding pre issue | 43,999,980 |
| Share holding post issue | 59,542,980 |
KRN Heat Exchanger IPO Timeline (Tentative Schedule)
KRN Heat Exchanger IPO opens on September 25, 2024, and closes on September 27, 2024.
| IPO Open Date | Wednesday, September 25, 2024 |
| IPO Close Date | Friday, September 27, 2024 |
| Basis of Allotment | Monday, September 30, 2024 |
| Initiation of Refunds | Tuesday, October 1, 2024 |
| Credit of Shares to Demat | Tuesday, October 1, 2024 |
| Listing Date | Thursday, October 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2024 |
KRN Heat Exchanger IPO Lot Size
Investors can bid for a minimum of 65 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,300 |
| Retail (Max) | 13 | 845 | ₹185,900 |
| S-HNI (Min) | 14 | 910 | ₹200,200 |
| S-HNI (Max) | 69 | 4,485 | ₹986,700 |
| B-HNI (Min) | 70 | 4,550 | ₹1,001,000 |
Company Financials
| Period Ended | 31 Mar 2024 | |||||||||
| Assets | 258.36 | |||||||||
| Revenue | 313.54 | |||||||||
| Profit After Tax | 390.69 | |||||||||
| Net Worth | 131.65 | |||||||||
| Total Borrowing | 59.69 | |||||||||
| Amount in ₹ Crore | ||||||||||
Key Performance Indicator
The market capitalization of KRN Exchanger IPO is Rs 1309.51 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| RoNW | 29.68% |
| PAT Margin (%) | 12.67 |
About KRN Heat Exchanger and Refrigeration Limited
KRN Heat Exchanger and Refrigeration Ltd is a leading manufacturer of fin and tube-type heat exchangers. This Rajasthan-based company manufactures fin and tube type ‘heat exchangers’ for ‘heat ventilation air conditioning’ and ‘refrigeration’ industry. The company manufactures Copper and Aluminium fins and copper tubes heat exchangers, water coils, condenser coils, and evaporator coils. It manufactures heat exchanger tubes of different shapes and sizes from 5 mm diameter to 7 mm, 9.52 mm, 12.7 mm, and 15.88 mm. All the products offered are used in the domestic, commercial, and industrial Heating, Ventilation, air conditioning and refrigeration (HVAC&R) industry.
Daikin Airconditioning India Pvt Ltd, Schnieder Electric IT Business India Pvt Ltd, Kirloskar Chillers Private Ltd, Blue Star Ltd, Climaventa Climate Technologies Pvt Ltd and Frigel Intelligent Cooling Systems India Pvt Ltd are some of the prestigious customers. The company also export products overseas to countries including UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, and more.
According to the documents, the IPO consists of fresh shares of 1.55 crore. It does not include any sale offer. The company had announced last month to raise Rs. 9.54 crore in the pre-IPO planning cycle.
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