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KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-10-03 | 220 | 235 (106.82%) | 2024-10-03 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details Details
| Detail | Description |
|---|---|
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Price Band | - |
| Lot Size | - |
| Total Issue Size | 15,523,000 shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | 15,523,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 43,999,980 |
| Shareholding post issue | 59,522,980 |
| Book Running Lead Manager | Holani Consultants Private Limited |
| Registrar | Bigshare Services Pvt Ltd |
KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details Timeline
| Detail | Description |
|---|---|
| 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 |
KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | 14,300 |
| Retail (Max) | 13 | 845 | ₹185,900 |
| S-HNI (Min) | 14 | 910 | ₹200,200 |
| S-HNI (Max) | 69 | 4,485 | ₹986,700 |
| B-HNI (Min) | 70 | 4,550 | ₹1,001,000 |
KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 94.39% | - |
Company & Financials
Leading manufacturer of fin and tube-type heat exchangers, KRN Heat Exchanger and Refrigeration Ltd manufacture Aluminum and Copper fins and copper tubes, water coils, heat exchangers, etc. With its manufacturing facility in Neemrana, Rajasthan, it manufactures heat exchanger tubes of shapes and sizes with diameters of 5mm-7mm, 9.52mm, 12.7mm, and 15.88mm. For manufacturing/production, the company uses the latest coil manufacturing machines like,
- â Vertical Expander
- â CNC Tube Bender
- â Fin Press Machine
- â Hair Pin Bender, etc.
The products offered by KRN Heat Exchanger and Refrigeration Limited IPO are used in, the Commercial, Domestic, and Industrial Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC&R) industry. The prestigious customers list of the company includes,
- •Daikin Air Conditioning India Pvt Ltd
- •Schneider Electric IT Business India Pvt Ltd
- •Kirloskar Chillers Private Ltd
- •Blue Star Ltd
- •Climaveneta Climate Technologies Pvt Ltd
- •Frigel Intelligent Cooling Systems India Pvt Ltd
The products are also exported to countries like the UAE, the USA, Germany, Saudi Arabia, Norway, Italy, the Czech Republic, the UK, and more.
Competitive Strength:
- -
KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 258.36 | 313.54 | 39.07 | 131.65 | 59.69 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 148.76 | 249.89 | 32.31 | 59.57 | 36.64 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 92.79 | 158.23 | 10.59 | 25.53 | 22.12 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| RoNW | 29.68% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ||
| P/E (x) |
Objectives of KRN Heat Exchanger IPO
The company proposes the use of Net Proceeds from the issue towards objectives, including,
- •Invest in Wholly Owned Subsidiary, KRN HVAC Products Pvt Ltd to set up a new manufacturing facility in Neemrana.
- •Prepayment/repayment of all or a portion of some loans that have been availed by the company.
- •Funding the company’s working capital requirements.
- •General corporate purposes.
KRN Heat Exchanger IPO Review
KRN Heat Exchanger is an emerging leader in fin tubes and other heat exchange-related products for the B2B segment. The company has some major blue-chip clients including,
- •Daikin
- •Blue Star
- •Voltas
- •Carrier Aircon and others
- It shows a significant growth for FY23 and FY24. With expansion plans afoot, the company is poised to gallop its performance in the upcoming years. Based on the FY24 earnings, the issue appears fully priced. Investors might lap it up for the medium-long term.
RHP:
DRHP:
Frequently asked Questions (FAQs )
-
Which IPO is being launched by KRN Heat Exchanger and Refrigeration Limited?
The company is launching a Mainboard IPO that will be listed on the BSE and NSE. It is expected to raise ₹341.5 Crores through this. The issue has been priced at ₹209 to ₹220 per equity share.
-
When does the subscription for KRN Heat Exchanger and Refrigeration Limited IPO open?
The subscription for the QIB, NII, and Retail Investors opens on September 25, 2024, and closes on September 27, 2024.
-
What is KRN Heat Exchanger IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is the issue size of KRN Heat Exchanger and Refrigeration Limited IPO?
₹341.5 crores is KRN Heat Exchanger and Refrigeration Limited IPO issue size.
-
What is the Price Band for KRN Heat Exchanger and Refrigeration Limited IPO?
₹209 to ₹220 is the Price Band for KRN Heat Exchanger and Refrigeration Limited IPO.
-
What is the lot size of KRN Heat Exchanger and Refrigeration Limited?
65 Shares with ₹14,300 amount is the lot size.
-
What is the Allotment date for KRN Heat Exchanger and Refrigeration Limited IPO?
September 30, 2024, is the allotment date for KRN Heat Exchanger and Refrigeration Limited IPO.
