KRN Heat Exchanger and Refrigeration Limited IPO is a book built issue of Rs 341.95 crores. The issue is entirely a fresh issue of 1.55 crore shares.
About KRN Heat Exchanger and Refrigeration Limited
Fin and tube heat exchangers are produced by KRN Heat Exchanger and Refrigeration Ltd, a well-known manufacturer.The company makes water coils, condenser coils, evaporator coils, heat exchangers with copper and aluminum fins and copper tubes. It produces heat exchanger tubes with a variety of diameters and forms, ranging from 5 mm to 7 mm, 9.52 mm, 12.7 mm, and 15.88 mm. The industries that deal with heating, ventilation, air conditioning, and refrigeration (HVAC&R) in homes, businesses, and industries employ all of the items that are offered.
Among the esteemed clients are Frigel Intelligent Cooling Systems India Pvt Ltd, Kirloskar Chillers Private Ltd, Daikin Airconditioning India Pvt Ltd, Schnieder Electric IT Business India Pvt Ltd, Blue Star Ltd, and Climaventa Climate Technologies Pvt Ltd. Additionally, the business exports goods to other nations.
The manufacturing plant spans an aggregate area of 7,800 square meters and is located in Neemrana, Rajasthan. The business makes use of the newest coil manufacturing equipment, such as vertical expanders, CNC tube benders, fin presses, and hair pin benders.
KRN Heat Exchanger IPO Details
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹209 to ₹220 per share |
| Lot Size | 65 Shares |
| Total Issue Size | 15,543,000 shares (aggregating up to ₹341.95 Cr) |
| Fresh Issue | 15,543,000 shares (aggregating up to ₹341.95 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 43,999,980 |
| Share holding post issue | 59,542,980 |
KRN Heat Exchanger IPO Timeline (Tentative Schedule)
KRN Heat Exchanger IPO opens on September 25, 2024, and closes on September 27, 2024.
| IPO Open Date | Wednesday, September 25, 2024 |
| IPO Close Date | Friday, September 27, 2024 |
| Basis of Allotment | Monday, September 30, 2024 |
| Initiation of Refunds | Tuesday, October 1, 2024 |
| Credit of Shares to Demat | Tuesday, October 1, 2024 |
| Listing Date | Thursday, October 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2024 |
Objects of the Issue (KRN Heat Exchanger IPO Objectives)
The net proceed from fresh issue is to be utilized for the following;
- Invest in the wholly owned subsidiary, KRN HVAC Products Pvt Ltd for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan, and
- General corporate purposes.
Key Performance Indicator
The market capitalization of KRN Heat Exchanger IPO is Rs 1309.51 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| RoNW | 29.68% |
| PAT Margin (%) | 12.67 |
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