Bookbuilding IPO | ₹342 Cr | Listed at BSE, NSE | Wed, Sep 25, 2024 - Fri, Sep 27, 2024
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 per share. The lot size for an application is 65. The minimum amount of investment required by an retail is ₹14,300 (65 shares) (based on upper price). 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 Open
Wed, Sep 25, 2024
IPO Close
Fri, Sep 27, 2024
Issue Price
₹220 per share
Market Cap (Pre-IPO)
₹1,309.51 Cr
| IPO Date | 25 to 27 Sep, 2024 |
| Listed on | Thu, Oct 3, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹209 to ₹220 |
| Issue Price | ₹220 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,55,43,000 shares (agg. up to ₹342 Cr) |
| Fresh Issue | 1,55,43,000 shares (agg. up to ₹342 Cr) |
| Share Holding Pre Issue | 4,39,99,980 shares |
| Share Holding Post Issue | 5,95,42,980 shares |
| BSE Script Code / NSE Symbol | 544263 / KRN |
| ISIN | INE0Q3J01015 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 65 shares and in multiples thereof.
| 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 |
KRN Heat Exchanger IPO raises ₹100.10 crore from anchor investors. KRN Heat Exchanger IPO Anchor bid date is September 24, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Sep 24, 2024 |
| Shares Offered | 45,50,000 |
| Anchor Portion (₹ Cr.) | 100.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Oct 30, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Dec 29, 2024 |
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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Investment in our wholly owned subsidiary KRN HVAC Products Private Limited in the form of equity, for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan (“Proposed Project”); and | 235.76 |
| 2 | General corporate purposes | 75.36 |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| RoNW | 29.68% |
| PAT Margin | 12.67% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.88 | 6.56 |
| P/E (x) | 24.78 | 33.52 |
| Promoter Holding | 94.39% | 70.78% |
| Market Cap | ₹1,309.51 Cr. |
The KRN Heat Exchanger IPO is subscribed 213.41 times on September 27, 2024 6:19:07 PM (Day 3). The public issue subscribed 96.74 times in the retail category, 253.04 times in the QIB category, and 430.54 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 253.04 | 31,07,455 | 78,63,00,710 |
| NII | 430.54 | 23,87,215 | 1,02,77,99,890 |
| bNII (bids above ₹10L) | 445.31 | 15,91,477 | 70,87,01,695 |
| sNII (bids below ₹10L) | 401.01 | 7,95,738 | 31,90,98,195 |
| Retail | 96.74 | 54,98,330 | 53,18,87,980 |
| Total | 213.41 | 1,09,93,000 | 2,34,59,88,580 |
Total Application : 62,91,460
| 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 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers (including Underwriting commission) | 18.26 |
| 2 | Selling commission/processing fee for SCSBs, Sponsor Banks and fee payable to the Sponsor Banks for Bids made by RIBs and brokerage and selling commission and bidding/uploading charges for members of the Syndicate (including their Sub-Syndicate Members), Registered Brokers, RTAs and CDPs | 1.12 |
| 3 | Advertising and marketing expenses | 3.24 |
| 4 | Fees payable to the Legal Advisors | 0.18 |
| 5 | Fees payable to the Registrar to the Issue | 1.50 |
| 6 | Fees payable to the regulators including Stock Exchanges | 4.42 |
| 7 | Printing and distribution of Issue stationary | 0.23 |
| 8 | Others (Bankers to the Issue, auditor’s fees etc. | 1.88 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹220.00 | ₹220.00 |
| Open | ₹470.00 | ₹480.00 |
| Low | ₹450.00 | ₹450.00 |
| High | ₹513.40 | ₹513.50 |
| Last Trade | ₹478.45 | ₹478.79 |
Lead Manager Reports
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 ₹342 Crores. The issue is priced at ₹220 per share. The minimum order quantity is 65.
The IPO opens on Wed, Sep 25, 2024, and closes on Fri, Sep 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 Wed, Sep 25, 2024 and closes on Fri, Sep 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 Tue, Oct 1, 2024. Check the KRN Heat Exchanger IPO allotment status.
The KRN Heat Exchanger IPO listing date is on Thu, Oct 3, 2024.
