KRN Heat Exchanger Share Price Live Updates: Today marks the debut of KRN Heat Exchanger and Refrigeration shares on the stock market. KRN Heat Exchanger shares will participate in the Special Pre-open Session (SPOS) and will be open for trading starting at 10:00 AM.
On Wednesday, September 25, the public subscription for KRN Heat Exchanger and Refrigeration Ltd, based in Rajasthan, began and concluded on Friday, September 27. KRN Heat Exchanger raised ₹100 crore from anchor investors.
KRN Heat Exchanger IPO includes a fresh issue of 1,55,43,000 equity shares valued at ₹342 crore at the upper end of the price band.
On Friday, the IPO bidding concluded with an overwhelming subscription of 214.42 times, as bids were placed for 2,35,71,39,005 shares against the 1,09,93,000 shares available.
The non-institutional investors category experienced an exceptional subscription of 431.63 times, while the retail individual investors (RIIs) portion was subscribed 98.29 times. The QIB category saw a subscription of 253.04 times.
The initial public offer of KRN Heat Exchanger and Refrigeration Ltd was fully subscribed within minutes of opening for share sale on Wednesday and finally ended with 23.73 times subscription.
The company supplies fin and tube-type heat exchangers to the heat ventilation air conditioning and refrigeration industry.
The company conducts all manufacturing activities at its integrated manufacturing facility, comprising of two industrial plots situated in the RIICO Industrial Area, Neemrana, Rajasthan.
Holani Consultants serves as the sole book-running lead manager for the company’s public offering.
03 Oct 2024, 11:34:48 AM IST
KRN Heat Exchanger Share Price Live Updates: Here’s what Prashanth Tapse of Mehta Equities says post-listing
“Despite markets selloff, KRN Heat Exchanger listing was in line with our expectations which was on the back of bumper subscription response from all sets of investors. For allotted investors, we had recommended to book profits as we believe post listing the valuations can over stretch on a higher side discounting all the medium term business growth visibility. For non-allottees it would be better to wait and watch for the price to settle,” said Tapse.
03 Oct 2024, 11:14:31 AM IST
KRN Heat Exchanger Share Price Live Updates: Check out company’s client base
In the fiscal year ending on March 31, 2024, they boasted a customer base exceeding 115 clients, spread across various regions. Their strong and well-established connections with the majority of their clients, stemming from their global diversity, offer them the chance to enter new international markets and grow their clientele. Among their esteemed clients are Daikin Airconditioning India Pvt Ltd, Schnieder Electric IT Business India Pvt Ltd, Kirloskar Chillers Pvt Ltd, Blue Star Ltd, Climaventa Climate Technologies Pvt Ltd, and Frigel Intelligent Cooling Systems India Pvt Ltd.
03 Oct 2024, 10:43:44 AM IST
KRN Heat Exchanger Share Price Live Updates: Here’s all you need to know about KRN Heat Exchanger business
Fin and tube heat exchangers are produced by KRN Heat Exchanger specifically for the HVAC (heat, ventilation, air conditioning) and refrigeration industry. They mostly use copper and aluminum as non-ferrous metals to make their heat exchangers. Condenser coils, evaporator units, evaporator coils, header/copper components, fluid and steam coils, and sheet metal parts are all offered by the company.
KRN produces heat exchangers in a range of sizes and forms based on client requests and/or market need. They manufacture heat exchanger tubes with a diameter that varies from 5.88 mm to 15.88 mm. Their products are highly suited for wide variety of air conditioning, heating and ventilation, refrigeration, and process cooling applications.
03 Oct 2024, 10:23:05 AM IST
KRN Heat Exchanger Share Price Live Updates: Investors may book a portion of the profit, says Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.
“KRN Heat Exchangers and Refrigeration Limited, saw a spectacular offering with a 118% increase on its issue price of 220 and became listed at 481. Even though the IPO’s valuation seems reasonable, it is difficult to draw direct comparisons because no peers have been listed. Nonetheless, investors may book a portion of the profit and keep the remaining amount because of KRN Heat Exchangers‘ excellent fundamentals and market demand,” advised Shivani.
03 Oct 2024, 10:21:15 AM IST
KRN Heat Exchanger Share Price Live Updates: Stock Check
The stock was trading at ₹470.72 per share on NSE, marking nearly 2% decrease at 10:18 IST, and at ₹471.65 per share on BSE, up 0.51%.
03 Oct 2024, 10:00:12 AM IST
KRN Heat Exchanger Share Price Live Updates: Stock makes a blockbuster debut, opens with 118% premium at ₹480 on NSE
KRN Heat Exchanger share price made a bumper debut on the bourses today. On NSE, KRN Heat Exchanger share price opened at ₹480 per share, 118.18% higher than the issue price of ₹220. On BSE, KRN Heat Exchanger share price today opened at ₹470 apiece, up 113.64% than the issue price.
03 Oct 2024, 09:42:36 AM IST
KRN Heat Exchanger Share Price Live Updates: Here’s what Prashanth Tapse, Senior Vice President of Research at Mehta Equities says about listing
“Considering bumper subscription demand and market sentiments, there is a high possibility and an indication of a blockbuster market debut, which can double allotted investors’ money on day one of listings. For allotted investors, we recommend book profits as we believe post listing the valuations can over stretch on a higher side discounting all the medium term business growth visibility,” said Prashanth Tapse.
03 Oct 2024, 09:34:31 AM IST
KRN Heat Exchanger Share Price Live Updates: Strong fundamentals, market demand suggest a promising outlook for the listing, says expert
According to Shivani Nyati, Head of Wealth, Swastika Investmart Ltd, the IPO’s valuation appears fair, the absence of listed peers makes a direct comparison challenging. However, KRN Heat Exchangers’ strong fundamentals and market demand suggest a promising outlook for the listing.
The IPO’s impressive subscription of 213.41 times and a substantial grey market premium (GMP) of ₹250 (113.64%) highlight strong investor interest.
03 Oct 2024, 09:31:41 AM IST
KRN Heat Exchanger Share Price Live Updates: Here’s what KRN Heat Exchanger IPO GMP today hints ahead of listing
KRN Heat Exchanger IPO grey market price is +248. This indicates KRN Heat Exchanger share price were trading at a premium of ₹248 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of KRN Heat Exchanger share price was indicated at ₹468 apiece, which is 112.73% higher than the IPO price of ₹220.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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