KRN Heat Exchanger and Refrigeration Limited IPO
- IPO Date25 Sep, 2024 to 27 Sep, 2024
- Listing Date03 Oct, 2024
- Face Value₹10 per share
- Issue Price₹209 to ₹220 per share
- Lot Size65 Shares
- Minimum Investment₹14,300
- Listing AtBSE, NSE
- Total Issue Size1,55,43,000 Shares
(aggregating up to ₹341.95 Cr) - Fresh Issue1,55,43,000 Shares
(aggregating up to ₹341.95 Cr)
- Offer for Sale-
- Issue TypeBook Built Issue IPO
- Share holding pre issue4,39,99,980
- Shareholding post issue5,95,42,980
IPO Dates
Closing Date
27 Sep, 2024
Initiation of Refunds
01 Oct, 2024
Listing Date
03 Oct, 2024
25 Sep, 2024
Opening Date
30 Sep, 2024
Basis of Allotment
01 Oct, 2024
Credit of Shares
KRN Heat Exchanger and Refrigeration Limited Lot Size
Investors can bid for a minimum of 65 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,300 |
| B-HNI (Min) | 70 | 4550 | ₹10,01,000 |
| S-HNI (Min) | 14 | 910 | ₹2,00,200 |
| Retail (Max) | 13 | 845 | ₹1,85,900 |
| S-HNI (Max) | 69 | 4485 | ₹9,86,700 |
KRN Heat Exchanger and Refrigeration Limited Promoter Holding
Mr. Santosh Kumar Yadav, Mrs. Anju Devi, and Mr. Manohar Lal are the company promoters.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 94.39% | - |
KRN Heat Exchanger and Refrigeration Limited COMPANY INFORMATION
KRN Heat Exchanger IPO is a book built issue of Rs 341.95 crores. The issue is entirely a fresh issue of 1.55 crore shares. KRN Heat Exchanger IPO opens for subscription on September 25, 2024 and closes on September 27, 2024. The allotment for the KRN Heat Exchanger IPO is expected to be finalized on Monday, September 30, 2024. KRN Heat Exchanger IPO will list on BSE, NSE with tentative listing date fixed as Thursday, October 3, 2024. KRN Heat Exchanger IPO price band is set at ₹209 to ₹220 per share. The minimum lot size for an application is 65 Shares. The minimum amount of investment required by retail investors is ₹14,300. The minimum lot size investment for sNII is 14 lots (910 shares), amounting to ₹200,200, and for bNII, it is 70 lots (4,550 shares), amounting to ₹1,001,000. Holani Consultants Private Limited is the book running lead manager of the KRN Heat Exchanger IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. Refer to KRN Heat Exchanger IPO RHP for detailed information.
KRN Heat Exchanger and Refrigeration Ltd is a leading manufacturer of fin and tube-type heat exchangers. The company manufactures Copper and Aluminium fins and copper tubes heat exchangers, water coils, condenser coils, and evaporator coils. It manufactures heat exchanger tubes of different shapes and sizes from 5 mm diameter to 7 mm, 9.52 mm, 12.7 mm, and 15.88 mm. All the products offered are used in the domestic, commercial, and industrial Heating, Ventilation, air conditioning and refrigeration (HVAC&R) industry.
Daikin Airconditioning India Pvt Ltd, Schnieder Electric IT Business India Pvt Ltd, Kirloskar Chillers Private Ltd, Blue Star Ltd, Climaventa Climate Technologies Pvt Ltd and Frigel Intelligent Cooling Systems India Pvt Ltd are some of the prestigious customers. The company also export products overseas to countries including UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, and more.
Its manufacturing facility is situated in Neemrana, Rajasthan over an aggregated area of 7,800 sq. mt. The company uses the latest coil manufacturing machines including Hair Pin Bender, Fin Press Machine, CNC Tube Bender, and Vertical Expander.
KRN Heat Exchanger and Refrigeration Limited IPO
The Initial Public Offering (IPO) of KRN Heat Exchanger and Refrigeration Limited presents a significant opportunity for investors. The company, incorporated in 2017, operates in the heat exchanger and refrigeration space, offering products critical for industrial cooling and refrigeration solutions. The IPO is a 100% book-built issue, and the company seeks to raise fresh capital through the issuance of 1,55,23,000 equity shares.
Key Details of the IPO
- Issue Size: Fresh issue of up to 1,55,23,000 equity shares of ?10 face value each.
- Promoters: The primary promoters of the company are Mr. Santosh Kumar Yadav, Mrs. Anju Devi, and Mr. Manohar Lal.
- Book Running Lead Manager: Holani Consultants Private Limited.
- Registrar: Bigshare Services Private Limited.
- Listing: The shares are proposed to be listed on BSE and NSE.
Financial and Operational Overview
The IPO will be critical for KRN Heat Exchanger to expand its operations, and improve its market position. The company plans to utilize the proceeds for general corporate purposes and capital expenditure to support future growth.
Pros of KRN Heat Exchanger IPO
- Strong Industry Position: The company operates in a growing industrial segment with significant demand for heat exchangers and refrigeration solutions.
- Growth Potential: The expansion plans outlined by the company hint at robust growth, supported by capital raised through the IPO.
- IPO Proceeds: The fresh capital will be utilized for general corporate purposes, which could streamline operations and boost profitability.
- Experienced Promoters: The company is backed by experienced promoters with deep knowledge of the industry.
Cons of KRN Heat Exchanger IPO
- High-Risk Investment: As this is the first public issue by the company, there’s inherent uncertainty regarding market reception and stock performance post-listing.
- Industry Competition: The company operates in a highly competitive industry, facing challenges from larger and well-established players.
- Dependence on Capital Expenditure: Growth prospects rely heavily on the successful deployment of IPO proceeds, which introduces execution risk.
- Market Fluctuation: The market price post-IPO may not reflect the company’s actual performance initially, causing short-term volatility.
Risk Factors
General Risks
Investing in IPOs involves inherent risks. Investors are advised to carefully consider the potential for loss before making decisions.
Risks Specific to KRN Heat Exchanger
- Liquidity Risk: Given the nature of the IPO and the relatively new presence in the public markets, liquidity issues might arise, especially in early trading sessions.
- Operational Risks: The company’s operational success depends on the timely and efficient utilization of funds raised. Any delays or mishandling could negatively impact growth.
Conclusion
KRN Heat Exchanger and Refrigeration Limited's IPO presents both opportunities and risks for potential investors. The company’s growth potential, driven by the demand for industrial cooling solutions, positions it well for future success. However, like all investments, it comes with risks related to market volatility, execution, and competition.
FAQs About Krn Heat Exchanger And Refrigeration Limited Ipo
KRN Heat Exchanger and Refrigeration Limited IPO will open on 25 Sep, 2024 and close on 27 Sep, 2024. Investors must apply within this period to participate.
The KRN Heat Exchanger and Refrigeration Limited IPO price band is set between ₹209.00 and ₹220.00 per share. The minimum lot size is 65, requiring an investment of at least ₹14300.00.
The KRN Heat Exchanger and Refrigeration Limited IPO shares are expected to be listed on 03 Oct, 2024, subject to regulatory approvals and final allotment.
You can track your KRN Heat Exchanger and Refrigeration Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The KRN Heat Exchanger and Refrigeration Limited IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.