KRN Heat Exchanger IPO Overview
The much-anticipated IPO of KRN Heat Exchanger & Refrigeration is set to launch on September 25, with a price band established between Rs 209 and Rs 220 per share. Investors can participate in this public offering by bidding for a minimum lot size of 65 shares. The IPO is scheduled to conclude on September 27, with anchor investors gaining the opportunity to place their bids a day prior, on September 24. The company aims to raise approximately Rs 341.95 crore from this issue.
About KRN Heat Exchanger
Founded in 2017, KRN Heat Exchanger is recognized as a leading manufacturer and exporter specializing in fin and tube type heat exchangers. Their extensive product line includes copper and aluminum fins, heat exchangers with copper tubes, water coils, condenser coils, and evaporator coils, all designed to cater to domestic, commercial, and industrial sectors involved in heating, ventilation, air conditioning, and refrigeration. The company’s founders are Santosh Kumar Yadav, Anju Devi, and Manoharlal, who have played a vital role in establishing its prominence in the market.
Key Dates and Details
The IPO’s important dates are as follows:
| Event | Date |
|---|---|
| IPO Opening Date | September 25 |
| IPO Closing Date | September 27 |
| Anchor Investor Bidding Date | September 24 |
| Allotment Date | September 30 |
| Listing Date on BSE and NSE | October 3 |
Financials and Use of IPO Proceeds
In the fiscal year 2024, KRN Heat Exchanger reported a consolidated net profit of Rs 390.69 crore, alongside revenue amounting to Rs 313.54 crore. Their total borrowings stood at Rs 59.69 crore, signaling a solid financial foundation for the company. The funds raised through the IPO will primarily be allocated towards establishing a new manufacturing facility for their wholly-owned subsidiary, KRN HVAC Products Pvt Ltd, located in Neemrana, Rajasthan, as well as for general corporate purposes.
Market Sentiment and Predictions
The grey market has revealed optimistic sentiments regarding KRN Heat Exchanger’s IPO, with shares currently trading at a premium of Rs 223, translating to a staggering 101.36% above the upper IPO price band. This indicates a potential listing price around Rs 443, reflecting strong investor interest and a possibly significant demand at market debut.
Final Thoughts
The forthcoming KRN Heat Exchanger IPO is poised to be an exciting opportunity for investors, given its robust financials and promising growth trajectory in the HVAC and refrigeration sector. As the IPO date approaches, it will be vital for potential investors to keep an eye on market trends and the grey market signals that could provide insights into the IPO’s performance post-listing.
