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KRN Heat Exchanger IPO is a book build issue of ₹341.95 crores. The issue is entirely a fresh issue of 1.55 crore shares of ₹341.95 crore.
KRN Heat Exchanger IPO bidding started from Sep 25, 2024 and ended on Sep 27, 2024. The allotment for KRN Heat Exchanger IPO was finalized on Sep 30, 2024. The shares got listed on BSE, NSE on Oct 3, 2024.
KRN Heat Exchanger IPO price band is set at ₹220.00 per share . The lot size for an application is 65. The minimum amount of investment required by an retail is ₹13,585 (65 shares). The lot size investment for sNII is 14 lots (910 shares), amounting to ₹2,00,200, and for bNII, it is 70 lots (4,550 shares), amounting to ₹10,01,000.
Holani Consultants Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to KRN Heat Exchanger IPO RHP for detailed Information.
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date | October 3, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹209 to ₹220 per share |
| Issue Price Final | ₹220 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,55,43,000 shares (aggregating up to ₹341.95 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,39,99,980 shares |
| Share Holding Post Issue | 5,95,42,980 shares |
KRN Heat Exchanger IPO offers total 1,55,43,000 shares. Out of which 76,57,455 (49.27%) allocated to QIB, 31,07,455 (19.99%) allocated to QIB, 23,87,215 (15.36%) allocated to NII, 54,98,330 (35.37%) allocated to RII and 45,50,000 (29.27%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 76,57,455 (49.27%) | NA |
| − Anchor Investor Shares Offered | 45,50,000 (29.27%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 31,07,455 (19.99%) | NA |
| NII (HNI) Shares Offered | 23,87,215 (15.36%) | NA |
| − bNII > ₹10L | 15,91,477 (10.24%) | 1,748 |
| − sNII < ₹10L | 7,95,738 (5.12%) | 874 |
| Retail Shares Offered | 54,98,330 (35.37%) | 84,589 |
| Total Shares Offered | 1,55,43,000 (100.00%) |
KRN Heat Exchanger IPO raises ₹100.10 crore from anchor investors. KRN Heat Exchanger IPO Anchor bid date is September 24, 2024. KRN Heat Exchanger IPO Anchor Investors list
| Bid Date | September 24, 2024 |
| Shares Offered | 45,50,000 |
| Anchor Portion Size (In Cr.) | 100.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 30, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 29, 2024 |
KRN Heat Exchanger IPO opens on September 25, 2024, and closes on September 27, 2024.
| IPO Open Date | Wed, Sep 25, 2024 |
| IPO Close Date | Fri, Sep 27, 2024 |
| Tentative Allotment | Mon, Sep 30, 2024 |
| Initiation of Refunds | Tue, Oct 1, 2024 |
| Credit of Shares to Demat | Tue, Oct 1, 2024 |
| Tentative Listing Date | Thu, Oct 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 27, 2024 |
Investors can bid for a minimum of 65 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,300 |
| Retail (Max) | 13 | 845 | ₹1,85,900 |
| S-HNI (Min) | 14 | 910 | ₹2,00,200 |
| S-HNI (Max) | 69 | 4,485 | ₹9,86,700 |
| B-HNI (Min) | 70 | 4,550 | ₹10,01,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
| Period Ended | 31 Mar 2024 |
| Assets | 258.36 |
| Total Income | 313.54 |
| Profit After Tax | 39.07 |
| Net Worth | 131.65 |
| Total Borrowing | 59.69 |
| Amount in ₹ Crore | |
The market capitalization of KRN Heat Exchanger IPO is ₹1309.51 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| RoNW | 29.68% |
| PAT Margin | 12.67% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 8.88 | 6.56 |
| P/E (x) | 24.78 | 33.52 |
The net proceed from fresh issue is to be utilized for the following;
[Dilip Davda] The company is one of the emerging leader in fin tubes and other heat exchange related products for B2B segment and has blue chip clients like Daikin, Blue Star, Voltas, Carrier Aircon, to name a few. It marked good growth for FY23 and FY24 and with the expansion plans afoot, it is poised for galloping performance in coming years. Though based on FY24 earnings, the issue appears fully priced, investors may lap it up for medium to long term. Read detail review...
| Period Ended | 31 Mar 2023 | 31 Mar 2022 |
| Standalone | Standalone | |
| Assets | 148.76 | 92.79 |
| Revenue | 249.89 | 158.23 |
| Profit After Tax | 32.31 | 10.59 |
| Net Worth | 59.57 | 25.53 |
| Total Borrowing | 36.64 | 22.12 |
| Listing Date | October 3, 2024 |
| BSE Script Code | 544263 |
| NSE Symbol | KRN |
| ISIN | INE0Q3J01015 |
| Final Issue Price | ₹220 per share |
| NSE Listing Group | EQ |
| BSE Listing Group | T |
KRN Heat Exchanger & Refrigeration Ltd.
Plot No. F - 46, 47, 48, 49 EPIP,
RIICO Industrial Area,
Neemrana, Alwar
Alwar, Rajasthan
Phone: +91 – 9257025440
Email: cs@krnheatexchanger.com
Website: http://www.krnheatexchanger.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
KRN Heat Exchanger IPO is a main-board IPO of 1,55,43,000 equity shares of the face value of ₹10 aggregating up to ₹341.95 Crores. The issue is priced at ₹220 per share. The minimum order quantity is 65.
The IPO opens on September 25, 2024, and closes on September 27, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in KRN Heat Exchanger IPO using UPI as a payment gateway. Zerodha customers can apply in KRN Heat Exchanger IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in KRN Heat Exchanger IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The KRN Heat Exchanger IPO opens on September 25, 2024 and closes on September 27, 2024.
KRN Heat Exchanger IPO lot size is 65, and the minimum amount required for application is ₹14,300.
You can apply in KRN Heat Exchanger IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for KRN Heat Exchanger IPO will be done on Monday, September 30, 2024, and the allotted shares will be credited to your demat account by Tuesday, October 1, 2024. Check the KRN Heat Exchanger IPO allotment status.
The KRN Heat Exchanger IPO listing date is on Thursday, October 3, 2024.
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