KRN Heat Exchanger and Refrigeration IPO
IPO Listing Details
- Listing Date
03 Oct 2024
- Listing Price
₹470.00
- Listing Change
113.64%
- Last Traded Price
₹767.50
IPO Details
- Open Date
25 Sep 2024
- Close Date
27 Sep 2024
- IPO
Price Range
₹ 209 to ₹ 220
- IPO
Size
₹ 341.95 Cr
- Listing Exchange
BSE, NSE
- Listing Date
03 Oct 2024
IPO Timeline
KRN Heat Exchanger and Refrigeration IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 25-Sep-24 | 1.44 | 54.15 | 24.52 | 24.43 |
| 26-Sep-24 | 3.16 | 135.32 | 55.41 | 57.99 |
| 27-Sep-24 | 253.04 | 430.10 | 96.06 | 212.97 |
Last Updated: 01 October 2024 9:37 AM by 5Paisa
KRN Heat Exchanger IPO is set to open on 25 September 2024 and will close on 27 September 2024. KRN Heat Exchanger and Refrigeration specializes in making fin and tube type heat exchangers. They produce heat exchangers with copper and aluminum fins, copper tubes, water coils, condenser coils, and evaporator coils.
The IPO includes a fresh issue of ₹1.55 Cr shares aggregating ₹341.51 Cr and the IPO does not include offer for sale. The price range is set between ₹202 to ₹220 per share and the lot size is 65 shares.
The allotment is scheduled to be finalized on 30 September 2024. It will go public on BSE & NSE with a tentative listing date of 3 October 2024.
Holani Consultants Private Limited is the book running lead manager while Bigshare Services Pvt Ltd is the registrar.
KRN Heat IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹341.51 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹341.51 Cr |
KRN Heat IPO Lot Size
| 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 IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 253.04 | 31,07,455 | 78,63,00,710 | 17,298.62 |
| NII (HNI) | 430.10 | 23,87,215 | 1,02,67,39,155 | 22,588.26 |
| Retail | 96.06 | 54,98,330 | 52,81,78,690 | 11,619.93 |
| Total | 212.97 | 1,09,93,000 | 2,34,12,18,555 | 51,506.81 |
KRN Heat IPO Anchor Allocation
| Anchor Bid Date | 24 September, 2024 |
| Shares Offered | 4,550,000 |
| Anchor portion Size (In ₹ Cr.) | 100.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | 30 October, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | 29 December, 2024 |
1. Invest in the wholly owned subsidiary
2. General Corporate Purposes
KRN Heat Exchanger and Refrigeration is a top manufacturer of fin and tube type heat exchangers including copper and aluminum fins and various heat exchanger tubes ranging from 5 mm to 15.88 mm in diameter. Their products such as water coils, condenser coils and evaporator coils are widely used in the HVAC&R industry across domestic, commercial and industrial sectors.
Some of their key clients include Daikin, Schneider Electric, Kirloskar, Blue Star and more. The company also exports to countries like UAE, USA, Italy, Saudi Arabia and Germany.
| Particulars (in Rs. Crores) | FY24(Consolidated) | FY23(Consolidated) | FY22(Consolidated) |
|---|---|---|---|
| Revenue | 313.54 | 249.89 | 158.23 |
| EBITDA | 58.45 | 49.32 | 16.94 |
| PAT | 39.07 | 32.31 | 10.59 |
| Particulars (in Rs. Crores) | FY24(Consolidated) | FY23(Standalone) | FY22(Standalone) |
|---|---|---|---|
| Total Assets | 258.36 | 148.76 | 92.79 |
| Share Capital | 46.14 | 44 | 4.40 |
| Total Borrowings | 59.69 | 36.64 | 22.12 |
| Particulars (in Rs. Crores) | FY24(Consolidated) | FY23(Standalone) | FY22(Standalone) |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 2.76 | 5.07 | 4.48 |
| Net Cash Generated From / (used in) investing activities | -66.36 | -13.99 | -2.72 |
| Net Cash Generated From / (used in) financing activities | 66.46 | 11.01 | 3.38 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 2.85 | 2.00 | 5.15 |
Strengths
1. The promoters have a solid leadership presence, backed by a skilled and experienced management team that drives the company's growth.
2. The company has maintained long-term business partnerships with leading clients, ensuring trust and repeat business.
3. The company follows strict quality control measures, ensuring that its products meet high standards and boosting customer satisfaction.
Risks
1. Dependence on a few key clients could pose a risk if any major client decides to switch suppliers or reduce orders.
2. Any issues at the established production facility such as equipment failure or labor shortages could lead to delays in meeting demand.
Intense competition in the HVAC&R industry could affect market share and pressure the company’s pricing and margins.
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FAQs
KRN Heat Exchanger IPO opens from 25 September to 27 September 2024.
The size of Arkade Developer's IPO is ₹341.51 crores.
The price of KRN Heat Exchanger IPO is fixed at ₹202 to ₹220 per share.
To apply for KRN Heat Exchanger IPO, follow the steps given below:
1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and the price at which you wish to apply for the KRN Heat Exchanger IPO.
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of KRN Heat Exchanger IPO is 65 shares and the minimum investment required is ₹13,130.
The share allotment date of KRN Heat Exchanger IPO is 30 September 2024
The KRN Heat Exchanger IPO will be listed on 3 October 2024.
Holani Consultants Private Limited is the book running lead manager for KRN Heat Exchanger IPO.
Holani Consultants Private Limited is the book running lead manager for KRN Heat Exchanger IPO.
KRN Heat Exchanger plans to utilize the raised capital from the IPO for:
1. Invest in the wholly owned subsidiary
2. General Corporate Purposes
Contact Information
KRN Heat Exchanger and Refrigeration
KRN Heat Exchanger and Refrigeration Limited
Plot No. F - 46, 47, 48, 49 EPIP,
RIICO Industrial Area,
Neemrana, Alwar
Phone: +91 – 9257025440
Email: cs@krnheatexchanger.com
Website: http://www.krnheatexchanger.com/
KRN Heat Exchanger and Refrigeration IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
KRN Heat Exchanger and Refrigeration IPO Lead Manager
Holani Consultants Private Limited
