KRN Heat Exchanger and Refrigeration Limited IPO

NiftyTrader • September 22, 2024

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KRN Heat Exchanger and Refrigeration Limited IPO

KRN Heat Exchanger and Refrigeration Limited IPO opens on September 25, 2024, and closes on September 27, 2024. The allotment for the KRN Heat Exchanger IPO is expected to be finalized on Monday, September 30, 2024. KRN Heat Exchanger IPO will list on BSE, and NSE with a tentative listing date fixed as Thursday, October 3, 2024.

KRN Heat Exchanger IPO price band is set at ₹209 to ₹220 per share. The minimum lot size for an application is 65 Shares. The minimum amount of investment required by retail investors is ₹14,300. The minimum lot size investment for sNII is 14 lots (910 shares), amounting to ₹200,200, and for bNII, it is 70 lots (4,550 shares), amounting to ₹1,001,000.

KRN Heat Exchanger IPO is a book built issue of Rs 341.95 crores. The issue is entirely a fresh issue of 1.55 crore shares.

KRN Heat Exchanger IPO Details

IPO Date	September 25, 2024 to September 27, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹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
Shareholding pre-issue	43,999,980
Shareholding post-issue	59,542,980

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

KRN Heat Exchanger IPO Objectives

The net proceeds from the fresh issues are to be utilized for the following;

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.

About KRN Heat Exchanger and Refrigeration Limited

KRN Heat Exchanger and Refrigeration Ltd is a premier manufacturer of fin and tube-type heat exchangers, specializing in copper and aluminum fins and tubes and water, condenser, and evaporator coils. The company produces tubes of various diameters, catering to the HVAC&R industry across the domestic, commercial, and industrial sectors. With esteemed clients like Daikin, Schneider Electric, and Blue Star, KRN also exports to countries including the USA, UAE, and Germany. Their state-of-the-art manufacturing facility in Neemrana, Rajasthan spans 7,800 sq. meters and is equipped with advanced machines like Hair Pin Benders and CNC Tube Benders.

KRN Heat Exchanger and Refrigeration Limited Financial Information

Period Ended	31 Mar 2024
Assets	258.36
Revenue	313.54
Profit After Tax	39.07
Net Worth	131.65
Total Borrowing	59.69
	Amount in ₹ Crore

KRN Heat Exchanger IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50%
Retail Shares Offered	Not more than 35%
NII (HNI) Shares Offered	Not more than 15%

KRN Heat Exchanger IPO Timeline

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
A 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