IPO of KRN Heat Exchanger is entirely a fresh issue of 1.55 crore shares.

KRN Heat Exchanger IPO: Check latest GMP, subscription status, other details

KRN Heat Exchanger opened for subscription on September 25 looking to raise Rs 341.95 crore from its public issue, and has already seen bids of over 80 times. 

by · India Today

In Short

  • KRN Heat Exchanger IPO oversubscribed 80 times
  • Subscription for the IPO ends on September 27
  • Expected listing on BSE and NSE on October 3

The initial public offering (IPO) of KRN Heat Exchanger has already seen huge subscriptions, garnering strong interest from retail investors.

KRN Heat Exchanger opened for subscription on September 25 looking to raise Rs 341.95 crore from its public issue, and has already seen bids of over 80 times.

The IPO of KRN Heat Exchanger has seen a subscription of 83.39 times. As of September 27, 2024, at 11:43 AM, the issue had been subscribed 69.62 times in the retail category, 4.57 times in the QIB category, and 217.73 times in the NII category.

KRN Heat Exchanger and Refrigeration Ltd specialises in producing fin and tube-type heat exchangers. The company manufactures heat exchangers with copper and aluminium fins and copper tubes, as well as water coils, condenser coils, and evaporator coils.

IPO of KRN Heat Exchanger is entirely a fresh issue of 1.55 crore shares and will be open for subscription till September 27.

The price band for the IPO is set at Rs 209 and Rs 220 per share. Retail investors need to apply for a minimum of 65 shares, requiring an investment of Rs 14,300.

Latest grey Markey premium (GMP) for KRN Heat Exchanger

The latest Grey Market Premium (GMP) for the KRN Heat Exchanger IPO stands at Rs 274, as of the update on September 27, 2024 at 11:01 AM.

With an issue price set at Rs 220, the projected listing price of the IPO is Rs 494, combining the cap price and the current GMP. Based on this, the anticipated gain per share is approximately 124.55%.

The allotment for the KRN Heat Exchanger IPO is set to be finalised on Monday, 30th September 2024.

The company's shares are expected to be listed on both BSE and NSE, with the tentative listing date scheduled for Thursday, 3rd October 2024.