KRN Heat Exchanger and Refrigeration Ltd had its Initial Public Offering garner 213.26 times subscription on the last day of the bidding that closed yesterday. It was driven by an overwhelming participation from institutional investors.
September 30 Shares to be allotted KRN Heat Exchanger and Refrigeration Ltd shares will be allotted to successful bidders on September 30 after the Rs 342-crore initial public offer (IPO) garnered 213.26 times subscription in the price range of Rs 209-220 per share. It raised Rs 100 crore from anchor investors earlier. The initial shares sale got bids for 234 crore shares as against 1.09 crore shares on offer.
KRN Heat Exchanger IPO is a fresh issuance of 1,55,43,000 equity shares priced at Rs 342 crore on the upper end of the price range. Investors may check the allotment status by visiting the website of the registrar, Bigshare Services.
KRN Heat Exchanger IPO allotment date today: Link to check the status on Bigshare Services
Step 1: Click on direct link to registrar. (This is the URL- https://ipo1.bigshareonline.com/IPO_Status.html)
Step 2: Choose the company from the dropdown
Step 3: Check allotment status by filling information, inter-alia, PAN and application number or DP client ID
Step 4: Click on Submit
Step 5: Window displays the Allotment Status
KRN Heat Exchanger IPO allotment status check on direct link of BSE
Step 1: Visit BSE's website
Step 2: Click on the 'Investors'
Step 3: Hover on 'Investor Services' and click on 'Status of Issue Application'.
Step 4: Click on 'Application Status Check'
Step 5: Select the type of issue as 'Equity'.
Step 6: Enter all details by using the 'Issue Name'
Step 7: Enter the PAN number and click on 'Search' to find the status
KRN Heat Exchanger IPO GMP Today Price
KRN Heat Exchanger shares were commanding a GMP of Rs 270 in the price range, translating to a premium of nearly 123 percent over the issue price. That accrued based on data from multiple platforms that track grey market premium activities.
Rs 242.5 crore will be utilized for investment in the wholly-owned subsidiary KRN HVAC Products, which sets up a new manufacturing facility in Neemrana, Alwar, Rajasthan. The balance shall be applied for general corporate purposes.
The company has its head office at Rajasthan and manufactures fin and tube type of heat exchangers meant for use by the heating, ventilation, air conditioning, and refrigeration industry.
All of the company's manufacture is undertaken at its integrated facility that occupies two plots of industrial area located within the RIICO Industrial Area, Neemrana, Rajasthan.
