KRN Heat Exchanger and Refrigeration Limited IPO Price Band;Lot Size Details, Listing Date | KRN Heat Exchanger IPO filled 26.11 times on first day: Subscribed 27.24 times in retail category, second day of bidding today

Today is the second day of investment in the Initial Public Offer i.e. IPO of KRN Heat Exchanger and Refrigeration Limited. The IPO of KRN Heat Exchanger and Refrigeration was subscribed a total of 26.11 times on the first day. The issue was subscribed 27.24 times in the retail category, 1.44 times in the Qualified Institutional Buyers (QIB) category and 55.59 times in the Non-Institutional Investors (NII) category.

The company wants to raise a total of Rs 341.51 crore through this issue. For this, the company is issuing 15,523,000 fresh shares worth ₹ 341.51 crore. The existing investors of the company are not selling even a single share through Offer for Sale i.e. OFS.

If you are also planning to invest money in it, then we are telling you how much you can invest in it.

What is the minimum and maximum amount that can be invested?

KRN Heat Exchanger & Refrigeration has set the IPO price band at ₹209 to ₹220. Retail investors can bid for a minimum of one lot i.e. 65 shares. If you apply for 1 lot at the upper price band of IPO at ₹220, you will have to invest ₹14,300.

Whereas, retail investors can apply for maximum 13 lots i.e. 845 shares. For this, investors will have to invest ₹ 185,900 as per the upper price band.

35% of the issue reserved for retail investors

The company has reserved 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII).

KRN heat exchanger premium in gray market 108.64%

Before listing, the company’s shares have reached a premium of 108.64% i.e. ₹ 239 per share in the gray market. In such a situation, according to the upper price band of ₹ 220, its listing can be at ₹ 459. Although this can only be speculated, the listing price of a share is different from the gray market price.

Company manufactures tube type heat exchangers

KRN Heat Exchanger manufactures fin and tube type heat exchangers for the heat ventilation air conditioning and refrigeration industry (HVAC&R). As per the documents, the company supplies various parts including condenser coil, evaporator unit, evaporator coil, header/copper parts, fluid and steam coils.

Customers like Daikin Airconditioning India, Schneider Electric IT Business India, Kirloskar Chillers, Blue Star, ClimaVenta Climate Technologies and Frigel Intelligent Cooling Systems India avail KRN Heat Exchanger.

What is IPO?

When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.