KRN Heat Exchanger and Refrigeration Limited has recently launched an IPO. This IPO will open on September 26, 2024, and will close on September 30, 2024. With a fixed price band of ₹209 and ₹220 per equity share in the IPO, the company aims to raise funds of ₹341.95 crore through this entirely new issue.
If you also want to get more information about this IPO, then today through this article, detailed information will be given on important aspects of the IPO, including subscription status, gray market premium (GMP), and allotment process.
KRN Heat Exchanger IPO Details
Bidding Dates | 25 Sep 2024 to 30 Sep 2024 |
Min. Investment | ₹13,585 |
Lot Size | 65 |
Price Range | ₹209 - ₹220 |
Issue Size | ₹341.51 crore |
Strong Subscription Response
KRN Heat Exchanger IPO has received a strong response from investors. KRN Heat Exchanger reflects strong confidence in the market. So far, the level of subscription has been impressive. This IPO is positively influencing the sentiments of the grey market. According to market analysts' reports, this stock can currently go up to ₹253 in the grey market. This stock reflects a rise of ₹13 from the previous day's GMP of ₹240. This increase in GMP suggests that investors expect a significant return for those lucky enough to acquire shares in this IPO.
Should You Subscribe?
According to Reliance Securities, KRN Heat Exchanger is a strong player in the HVAC&R industry. KRN Heat Exchanger specializes in fin and tube-type heat exchangers made from non-ferrous metals such as copper and aluminum. The company's strategic partnerships with industry giants such as Daikin, Schneider Electric, and Blue Star driving its growth. With over 19 years of experience, KRN Heat Exchanger has successfully expanded its product range. Today it has established lasting relationships with leading customers, indicating a promising trajectory for future profitability. Hence, they recommend a'subscribe' tag for this issue.
Allotment Process & Key Dates
The allotment of shares for the KRN Heat Exchanger IPO is expected to be finalized by September 30, 2024. Investors can expect notifications regarding the debit of funds or cancellation of their IPO mandate by the end of the week or October 1. The KRN Heat Exchanger IPO was offered at a lot size of 65 shares, making it accessible to a wide range of investors.
If everything goes as planned, KRN Heat Exchanger shares are likely to be listed on October 3, 2024 as per the 'T+3' listing rule, with October 2 being a market holiday for Mahatma Gandhi Jayanti.
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