KRN Heat Exchanger IPO will open for subscription from 25 September 2024. The company aims for an issue size of ₹341.95 Cr through this IPO.
Company Overview
| Full name | KRN Heat Exchanger and Refrigeration Limited |
| Sector | Capital Goods |
| Industry | Engineering – Industrial Equipments |
| Company Website | https://krnheatexchanger.com/ |
About Company
KRN Heat Exchanger and Refrigeration specializes in the production of fin and tube-type heat exchangers for the HVAC&R industry. Its heat exchangers are crafted using non-ferrous metals, primarily Copper and Aluminium. The company’s product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils, and sheet metal parts. The diameter of its heat exchanger tubes ranges from 5MM to 15.88 MM.
The company’s product portfolio includes evaporator coils, condenser coils, fluid and steam coils, condensing units, copper headers parts, and sheet metal parts. At KRN Heat Exchanger, all the manufacturing operations take place at a consolidated facility, which comprises two industrial units located in the RIICO Industrial Area, Neemrana, Rajasthan.
The Objectives of the Issue
- Invest in the wholly owned subsidiary, KRN HVAC Products Pvt Ltd for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan, and
- General corporate purposes.
KRN Heat Exchanger IPO Timetable
| IPO Opening date | 25 September 2024 |
| IPO Closing | 27 September 2024 |
| Basis of Allotment | 30 September 2024 |
| Initiation Refund | 01 October 2024 |
| Credit to Demat Account | 01 October 2024 |
| Listing Date | 03 October 2024 |
KRN Heat Exchanger IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹341.95 Cr – 15,543,000 shares |
| Fresh Issue | ₹341.95 Cr – 15,543,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹209 to ₹220 per share |
| Lot size | 65 Shares |
| Shareholding pre-issue | 43,999,980 |
| Shareholding post-issue | 59,542,980 |
| Listing Exchange | BSE & NSE |
KRN Heat Exchanger Offer Lot Size
| 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 |
KRN Heat Exchanger Offer Documents
KRN Heat Exchanger IPO Reservation Details
KRN Heat Exchanger IPO offers 1,55,43,000 shares. 31,07,455 (19.99%) to QIB, 23,87,215 (15.36%) to NII, 54,98,330 (35.37%) to RII and 45,50,000 (29.27%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 45,50,000 (29.27%) | NA |
| QIB Shares Offered | 31,07,455 (19.99%) | NA |
| NII (HNI) Shares Offered | 23,87,215 (15.36%) | |
| bNII > ₹10L | 15,91,477 (10.24%) | 1,748 |
| sNII < ₹10L | 7,95,738 (5.12%) | 874 |
| Retail Shares Offered | 54,98,330 (35.37%) | 84,589 |
| Total Shares Offered | 1,55,43,000 (100%) |
KRN Heat Exchanger Financial Performance
| FY 2022* | FY 2023* | FY 2024 | |
| Revenue | 156.11 | 247.48 | 308.28 |
| Expenses | 143.26 | 204.39 | 257.81 |
| Net income | 10.59 | 32.32 | 39.03 |
| Margin (%) | 6.78 | 13.06 | 12.66 |
KRN Heat Exchanger Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 2.27 | 6.94 | 8.38 | 6.29 |
| PE Ratio | – | – | 24.95 – 26.27 | 33.25 – 35.00 |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | 41.48 | 54.24 | 29.68 |
| NAV | 5.48 | 12.78 | 28.25 |
| ROCE (%) | 34.65 | 50.46 | 31.21 |
| EBITDA (%) | 10.85 | 19.93 | 18.96 |
| Debt/Equity | 0.87 | 0.62 | 0.45 |
Company Promoters
- Mr. Santosh Kumar Yadav
- Mrs. Anju Devi
- Mr. Manohar Lal
Promoter Holding
| Pre Issue Share Holding | 94.39% |
| Post Issue Share Holding |
KRN Heat Exchanger Offer GMP Update
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 03-10-2024 Listing | 220.00 | ₹235 | 11600/162400 | ₹455 (106.82%) | 3-Oct-2024 9:30 |
| 02-10-2024 | 220.00 | ₹248 | 12300/172200 | ₹468 (112.73%) | 2-Oct-2024 23:31 |
| 01-10-2024 | 220.00 | ₹245 | 12100/169400 | ₹465 (111.36%) | 1-Oct-2024 23:26 |
| 30-09-2024 Allotment | 220.00 | ₹270 | 13300/186200 | ₹490 (122.73%) | 30-Sep-2024 23:31 |
| 29-09-2024 | 220.00 | ₹270 | 13300/186200 | ₹490 (122.73%) | 29-Sep-2024 23:27 |
| 28-09-2024 | 220.00 | ₹275 | 13600/190400 | ₹495 (125%) | 28-Sep-2024 23:24 |
| 27-09-2024 Close | 220.00 | ₹276 | 13600/190400 | ₹496 (125.45%) | 27-Sep-2024 23:32 |
| 26-09-2024 | 220.00 | ₹274 | 13500/189000 | ₹494 (124.55%) | 26-Sep-2024 23:28 |
| 25-09-2024 Open | 220.00 | ₹251 | 12400/173600 | ₹471 (114.09%) | 25-Sep-2024 23:26 |
| 24-09-2024 | 220.00 | ₹239 | 11800/165200 | ₹459 (108.64%) | 24-Sep-2024 23:25 |
| 23-09-2024 | 220.00 | ₹240 | 11900/166600 | ₹460 (109.09%) | 23-Sep-2024 23:26 |
| 22-09-2024 | 220.00 | ₹223 | 11000/154000 | ₹443 (101.36%) | 22-Sep-2024 23:30 |
| 21-09-2024 | 220.00 | ₹223 | 11000/154000 | ₹443 (101.36%) | 21-Sep-2024 23:27 |
| 20-09-2024 | 220.00 | ₹223 | 11000/154000 | ₹443 (101.36%) | 20-Sep-2024 23:30 |
| 19-09-2024 | NA | ₹225 | — | ₹225 (%) | 19-Sep-2024 23:29 |
| 18-09-2024 | NA | ₹225 | — | ₹225 (%) | 18-Sep-2024 23:24 |
| 17-09-2024 | NA | ₹225 | — | ₹225 (%) | 17-Sep-2024 23:31 |
| 16-09-2024 | NA | ₹215 | — | ₹215 (%) | 16-Sep-2024 23:27 |
KRN Heat Exchanger IPO Subscription Update
| Category | Subscription (times) |
|---|---|
| QIB | 253.04 |
| NII | 430.54 |
| bNII (bids above ₹10L) | 445.31 |
| sNII (bids below ₹10L) | 401.01 |
| Retail | 96.74 |
| Total | 213.41 |
KRN Heat Exchanger IPO Allotment Status
The KRN Heat Exchanger IPO allotment status will be available on the Bigshare services website. Click on this link to access the allotment status.
KRN Heat Exchanger IPO Listing Details
| Listing Date | 03 October 2024 |
| BSE Scrip Code | 544263 |
| NSE Symbol | KRN |
| ISIN | INE0Q3J01015 |
| Final Issue Price | ₹220 per share |
Listing Day Update
| Listing Exchange | BSE | NSE |
| Final Issue Price | ₹220.00 | ₹220.00 |
| Open | ₹470.00 | ₹480.00 |
| Low | ₹450.00 | ₹450.00 |
| High | ₹513.40 | ₹513.50 |
| Last Trade | ₹478.45 | ₹478.79 |
KRN Heat Exchanger IPO Lead Manager(s)
HOLANI CONSULTANTS PRIVATE LIMITED
401 – 405 & 416 – 418, 4th Floor, Soni Paris Point,
Jai Singh Highway, Bani Park, Jaipur – 302016
Phone: +91 0141 – 2203996
Email: ipo@holaniconsultants.co.in
Website: www.holaniconsultants.co.in
KRN Heat Exchanger Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
KRN Heat Exchanger Contact Details
KRN HEAT EXCHANGER AND REFRIGERATION LIMITED
Plot No. F – 46, 47, 48, 49 EPIP, RIICO Industrial Area,
Neemrana, Alwar Rajasthan-301705, India
Phone: +91 – 9257025440
Email: cs@krnheatexchanger.com
Website: www.krnheatexchanger.com
KRN Heat Exchanger IPO FAQs
How many shares in KRN Heat Exchanger IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for KRN Heat Exchanger Public Offer?
The best way to apply for the KRN Heat Exchanger public offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is KRN Heat Exchanger IPO GMP today?
KRN Heat Exchanger IPO GMP today is ₹ 260 per share.
What is KRN Heat Exchanger kostak rate today?
KRN Heat Exchanger kostak rate today is ₹ NA per application.
What is KRN Heat Exchanger Subject to Sauda rate today?
KRN Heat Exchanger Subject to Sauda rate today is ₹ 11,000 per application.
Final thoughts
KRN Heat Exchanger IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
