KRN Heat IPO Could Offer Listing Gains Similar to Bajaj Housing IPO – Check Allotment Status and Full Details Here!

Last updated on October 4th, 2024 at 12:57 pm

KRN Heat IPO: KRN Heat Exchanger’s IPO has attracted tremendous investor interest, with an impressive 213.41 times oversubscription. The company aims to raise ₹341.95 crores through this IPO, and the listing is scheduled for October 3, 2024. If you’re planning to invest in this IPO, check out all the details, including allotment status and important dates, here.

Highlights:

• KRN Heat Exchanger IPO has been oversubscribed by 213.41 times.
• The stock will be listed on BSE and NSE on October 3, 2024.
• The company aims to raise ₹341.95 crores through the IPO.
• The price band for the IPO is ₹209 to ₹220 per share.
• The minimum lot size is 65 shares, with an investment of ₹14,300.

Complete Information on KRN Heat Exchanger IPO

About KRN Heat Exchanger

KRN Heat Exchanger is a leading Indian company that manufactures fin and tube-type heat exchangers. The company produces finned products made from copper and aluminum, along with copper tube heat exchangers, water coils, condenser coils, and evaporator coils. These products are widely used across various industries, and the company offers heat exchanger tubes in different sizes and diameters.

Also Read: Upcoming IPOs: Indian IPO Market is Heating Up for Bigger Debuts after Bajaj Housing Finance’s big debut

Purpose of the IPO

KRN Heat Exchanger recently launched its IPO with the main goal of setting up a new manufacturing facility. The company plans to establish a production unit for its subsidiary, KRN HVAC Products, in Neemrana, Alwar (Rajasthan). The funds raised through the IPO will be used to support this new project.

Key Details of the IPO

• IPO Opening and Closing Dates:
  The KRN Heat Exchanger IPO opened on 25 September 2024 and closed on 27 September 2024. During this time, it received an overwhelming response from investors, with the IPO being oversubscribed 213.41 times, reflecting high investor confidence.
• Share Allotment and Listing:
  The share allotment will take place on 30 September 2024. Investors who are allotted shares will receive them in their Demat accounts by 1 October 2024. Following that, the company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 3 October 2024.
• Subscription Categories:
  The IPO saw a strong subscription from various investor categories. The retail investor category was oversubscribed by 96.74 times, non-institutional investors (NII) by 430.54 times, and qualified institutional buyers (QIB) by 253.04 times.

Price and Investment Options for KRN Heat Exchanger IPO

The price band for the KRN Heat Exchanger IPO was set between ₹209 and ₹220 per share. The minimum lot size for investors was 65 shares, which meant the minimum investment amount was ₹14,300. For larger investors, the lot size increased; for NII investors, it was 910 shares (₹2,00,200), and for BII investors, it was 4,550 shares (₹10,01,000).

Will KRN Heat IPO Offer Listing Gains Similar to Bajaj Housing?

There is significant excitement among investors regarding the KRN Heat Exchanger IPO. Many analysts believe that this IPO could deliver substantial listing gains, similar to the Bajaj Housing Finance IPO. The heavy oversubscription indicates high demand for the stock, which could result in a significant price jump on the listing day.

Also Read: Hold or Sell? Expert Advice for Lucky Bajaj Housing Finance IPO Allottees: Should You Buy Now?

FAQ

1. When will KRN Heat Exchanger IPO be listed?
The KRN Heat Exchanger IPO will be listed on 3 October 2024 on BSE and NSE.

2. What is the price band for KRN Heat Exchanger IPO?
The price band for this IPO is ₹209 to ₹220 per share.

3. Has KRN Heat Exchanger IPO been oversubscribed?
Yes, the KRN Heat Exchanger IPO has been oversubscribed by 213.41 times.

4. What is the minimum investment amount for KRN Heat Exchanger IPO?
The minimum investment amount is ₹14,300, which is for one lot of 65 shares.

5. What is the purpose of the KRN Heat Exchanger IPO?
The funds raised through the IPO will be used to establish a new manufacturing facility for KRN HVAC Products.