Last updated on September 30, 2024
| KRN Heat Exchanger IPO GMP | KRN Heat Exchanger IPO Review | KRN Heat Exchanger IPO Allotment | KRN Heat Exchanger IPO Listing |
KRN Heat Exchanger IPO subscription started on 25 September 2024 and will close on 27 September 2024. KRN Heat Exchanger plans to raise around INR 341.5 crores via the IPO. The price band is fixed at INR 209 – 220 per share. KRN Heat Exchanger IPO market lot has 65 shares and the minimum application amount is INR 14,300. The retail quota is 35%, QIB is 50% and NII is 15%.
Check KRN Heat Exchanger IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. Here you can find KRN Heat Exchanger IPO subscription status segregated by days and investor categories.
KRN Heat Exchanger IPO Subscription Status – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 31,07,455 | 23,87,215 | 54,98,330 | 1,09,93,000 |
| 27 Sep 2024 | 253.04 | 428.81 | 94.24 | 211.78 |
| 26 Sep 2024 | 3.16 | 135.85 | 55.53 | 58.17 |
| 25 Sep 2024 | 1.44 | 53.88 | 23.96 | 24.09 |
Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.
KRN Heat Exchanger – Business Background
KRN Heat Exchanger and Refrigeration Limited is a prominent manufacturer of fin and tube-type heat exchangers, evaporators, and condensers for the heating, ventilation, air conditioning, and refrigeration (HVAC&R) industry. The company’s products are used in a wide range of applications including residential and commercial air conditioning, refrigeration for food and beverages, and specialized cooling systems for data centers and medical equipment.
KRN offers customized heat exchanger coils made with aluminum or copper fins and copper tubes in various diameters ranging from 5mm to 15.88mm. The company’s manufacturing facility in Neemrana, Rajasthan is equipped with state-of-the-art coil production machines and advanced testing technology. KRN holds several key certifications such as ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.
The company’s product portfolio includes condenser coils, evaporator coils, condensing units, copper headers, fluid and steam coils, and sheet metal parts. KRN serves prestigious OEMs such as Daikin, Schneider Electric, Carrier, Eberspächer, and Voltas.
Read Also: KRN Heat Exchanger IPO Review: 10 Key Points Investors Should Know
Investor Categories in KRN Heat Exchanger IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of the KRN Heat Exchanger IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
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KRN Heat Exchanger IPO Subscription Status FAQs
When will the subscription for KRN Heat Exchanger IPO start?
KRN Heat Exchanger IPO is open for subscription from 25 September to 27 September 2024.
How to subscribe to KRN Heat Exchanger IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will KRN Heat Exchanger IPO be listed?
KRN Heat Exchanger IPO will be listed on 3 October 2024, at the BSE and NSE stock exchanges.
