The Initial Public Offering (IPO) for KRN Heat Exchanger and Refrigeration Ltd opened for bidding on September 25, 2024, and closed on September 27, 2024. On Monday, September 30, 2024, the company completed the allocation of shares. Tomorrow, October 3, 2024, KRN Heat Exchanger shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
KRN Heat Exchanger’s IPO has generated a lot of interest from investors, and the grey market premium (GMP) suggests that the shares could make a strong debut.
Subscription Details:
By the end of the bidding process on September 27, 2024, the IPO was subscribed 213.41 times. The retail category was subscribed 96.74 times, the Qualified Institutional Buyer (QIB) category was subscribed 253.04 times, and the Non-Institutional Investor (NII) category was subscribed an impressive 430.54 times.
Grey Market Premium (GMP) Predictions:
The GMP for KRN Heat Exchanger IPO started at ₹270 on day 1 of the subscription, dipped slightly to ₹235 on day 2, and settled at ₹230 by the end of the bidding. Despite the decrease, the current GMP still signals strong demand for the shares.
The latest GMP indicates that the shares are expected to list at ₹450 each, which is 104.55% higher than the upper limit of the issue price of ₹220.
About KRN Heat Exchanger:
KRN Heat Exchanger and Refrigeration Ltd is one of the leading manufacturers of heat exchangers, particularly in the fin and tube types. The company makes products like water coils, condenser coils, evaporator coils, and heat exchangers that use copper and aluminum fins and copper tubes. Their heat exchanger tubes come in different sizes, ranging from 5mm to 15.88mm in diameter.
These products are used in the HVAC (Heating, Ventilation, Air Conditioning, and Refrigeration) industry, serving residential, commercial, and industrial customers.
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