KRN Heat Exchanger IPO Listing: What GMP indicates Ahead of Debut?

KRN Heat Exchanger IPO listing is scheduled for Thursday, October 3, 2024. The IPO allotment will be finalized today, September 30, 2024. For those who have been allocated shares, the shares will be credited to their demat accounts on Tuesday, October 1. Additionally, the refund process for those who did not receive shares will also be completed today, September 30. Here’s what you need to know about the KRN Heat Exchanger IPO listing tomorrow.

KRN Heat Exchanger IPO Listing Tomorrow

On the final day of subscription, Friday, September 27, KRN Heat Exchanger IPO received a strong 211.78 times the number of subscriptions, according to BSE data. The qualified institutional buyer (QIB) segment was oversubscribed 253.04 times, while the non-institutional investor quota saw 428.81 times subscriptions. The retail individual investor (RII) quota was oversubscribed 94.24 times. The IPO, which opened on Wednesday, September 25, had a price band set between INR 209 – 220 per share.

In the KRN Heat Exchanger IPO, 15% of the shares are allocated for non-institutional investors (NII), 35% are designated for retail investors, and 50% are reserved for qualified institutional buyers (QIB).

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KRN Heat Exchanger IPO GMP

Investors are also considering the market opportunity and the unique premium of manufacturing fin and tube-type heat exchangers for the HVAC and refrigeration sector company about to enter the market. Consequently, there is a significant grey market premium (GMP), offering a profit potential. Let’s examine what the GMP for KRN Heat Exchanger IPO has indicated in the last few days ahead of its listing.

Over the past twelve days (17 – 30 Sept), the average grey market premium (GMP) for KRN Heat Exchanger IPO was INR 235 per share, with today’s GMP being at INR 260 per share, according to IPOCentral’s GMP tracker. Accordingly, the anticipated listing price for KRN Heat Exchanger IPO is pegged at INR 480 per share. This figure represents a potential profit of 118.2% from the IPO price of INR 220 per share, factoring in the upper limit of the IPO pricing range and the current premium observed in the grey market.

The term “Grey market premium” signifies the willingness of investors to pay a price higher than the initial offering price. While trading in this parallel market is not recognized by stock exchanges, the grey market has worked reasonably well to anticipate listing prices. Most recently, shares of Bajaj Housing Finance and Arkade Developers had strong starts on their stock market debuts, as indicated by the grey market.

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KRN Heat Exchanger IPO Details

KRN Heat Exchanger and Refrigeration specializes in the production of fin and tube-type heat exchangers for the HVAC&R industry. Its heat exchangers are crafted using non-ferrous metals, primarily Copper and Aluminium. The company’s product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils, and sheet metal parts. The diameter of its heat exchanger tubes ranges from 5 MM to 15.88 MM.

KRN holds several key certifications such as ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018. KRN’s focus on innovation and quality has positioned it well within a growing market; the Indian HVAC sector is projected to expand significantly in the coming years. With a solid revenue base and strategic growth plans, including potential international expansion, KRN Heat Exchanger presents an attractive opportunity for investors looking to capitalize on the rising demand for energy-efficient solutions in the HVAC&R space.

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KRN Heat Exchanger IPO Listing FAQs