KRN Heat Exchanger and Refrigeration Limited IPO Overview
The KRN Heat Exchanger IPO is a book-built issue, offering 1.55 crore fresh shares. The IPO opens for subscription from September 25, 2024, to September 27, 2024, with the allotment expected on September 30, 2024. The company’s shares are set to list on BSE and NSE on October 3, 2024. The price bands for the IPO are yet to be disclosed.
Holani Consultants Private Limited is the book-running lead manager, and Bigshare Services Pvt Ltd is the registrar. for the issue. For more detailed information.
Refer to KRN Heat Exchanger IPO RHP for detailed information.
KRN Heat Exchanger and Refrigeration Limited IPO Important dates
KRN Heat Exchanger IPO opens on September 25, 2024, and closes on September 27, 2024.
| 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 |
| The 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 Financial Performance
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 258.36 crore | 148.76 crore | 92.79 crore |
| Revenue | 313.54 crore | 249.89 crore | 158.23 crore |
| Profit After Tax | 39.07 crore | 32.31 crore | 10.59 crore |
| Net Worth | 131.65 crore | 59.57 crore | 25.53 crore |
| Total Borrowing | 59.69 crore | 36.64 crore | 22.12 crore |
KRN Heat Exchanger and Refrigeration Limited IPO Key Performance Indicator
The market capitalization of KRN Heat Exchanger IPO is Rs 1309.51 Cr. KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| RoNW | 29.68% |
| PAT Margin (%) | 12.67 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.88 | 6.56 |
| P/E (x) | 24.78 | 33.52 |
KRN Heat Exchanger and Refrigeration Limited IPO Objectives
The net proceeds from the fresh issue are to be utilized for the following;
- Invest in the wholly owned subsidiary, KRN HVAC Products Pvt Ltd for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan, and
- General corporate purposes.
KRN Heat Exchanger and Refrigeration Limited IPO Lot Size
Investors can bid for a minimum of 65 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 Details
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date | [October 3, 2024] |
| Face Value | ₹10 per share |
| Price | ₹209 to ₹220 per share |
| Lot Size | 65 Shares |
| 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 |
KRN Heat Exchanger and Refrigeration Limited Company Overview and Services
KRN Heat Exchanger and Refrigeration Ltd is a prominent manufacturer specializing in fin and tube-type heat exchangers. The company produces high-quality copper and aluminum fins, copper tubes, water coils, condenser coils, and evaporator coils. Their heat exchangers are available in various sizes, ranging from 5 mm to 15.88 mm in diameter, catering to the diverse needs of the HVAC&R (Heating, Ventilation, Air Conditioning, and Refrigeration) industry for domestic, commercial, and industrial applications.
The company serves prestigious clients like Daikin Airconditioning India Pvt Ltd, Schneider Electric IT Business India Pvt Ltd, Kirloskar Chillers Private Ltd, Blue Star Ltd, Climaventa Climate Technologies Pvt Ltd, and Frigel Intelligent Cooling Systems India Pvt Ltd. KRN Heat Exchanger also exports its products to international markets, including the UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, and the UK.
Located in Neemrana, Rajasthan, the company’s state-of-the-art manufacturing facility spans 7,800 sq. mt. It utilizes advanced coil manufacturing technology, including Hair Pin Benders, Fin Press Machines, CNC Tube Benders, and Vertical Expanders, ensuring top-notch quality and precision in every product.
KRN Heat Exchanger and Refrigeration Limited IPO SWOT Analysis
Strengths
- Strong Manufacturing Expertise: With a focus on fin and tube-type heat exchangers, KRN Heat Exchanger produces a diverse range of high quality products, including copper and aluminum fins and tubes of various diameters, catering to HVAC and RF needs.
- Reputed Client Base: The company serves renowned clients like Daikin, Schneider Electric, Blue Star, and Kirloskar, demonstrating trust and reliability in the market.
- Global Reach: Exports to multiple countries, including the UAE, USA, Italy, and Germany, giving the company access to international markets and reducing dependency on the domestic market.
- Advanced Manufacturing Facility: The facility in Neemrana, Rajasthan, is equipped with cutting-edge machinery like CNC Tube Benders and Fin Press Machines, ensuring efficient production and high-quality output.
Weaknesses
- Dependency on HVAC&R Industry: Heavy reliance on the HVAC&R sector makes the company vulnerable to industry-specific downturns or technological disruptions.
- Geographical Concentration: Despite having an international presence, the company’s manufacturing operations are concentrated in a single location, which may pose operational risks.
Opportunities
- Expanding Global HVAC&R Market: With increasing demand for heating and cooling solutions worldwide, KRN Heat Exchanger has growth potential by tapping into emerging markets and expanding its product line.
- Technological Advancements: The company can explore innovation in energy-efficient heat exchanger products to meet the growing demand for sustainable HVAC&R solutions.
- Diversification: Expanding beyond HVAC&R and venturing into new industries can help reduce dependence on a single sector.
Threats
- Intense Competition: The HVAC&R sector is highly competitive, with both domestic and international players offering similar products.
- Raw Material Price Fluctuations: The price volatility of raw materials like copper and aluminum may impact profit margins.
- Economic Slowdowns: A downturn in the global economy could lead to reduced demand for HVAC&R products, affecting the company’s revenue.
KRN Heat Exchanger and Refrigeration Limited IPO GMP Details
KRN Heat Exchanger IPO last GMP is ₹274, last updated Sep 27th 2024. With the price band of 220.00, KRN Heat Exchanger IPO’s estimated listing price is ₹494 (cap price + today’s GMP).The expected percentage gain/loss per share is 124.55%.
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 27-09-2024 Close | 220.00 | ₹274  |
13500/189000 | ₹494 (124.55%) | 27-Sep-2024 |
| 26-09-2024 | 220.00 | ₹274  |
13500/189000 | ₹494 (124.55%) | 26-Sep-2024 |
| 25-09-2024 Open | 220.00 | ₹251 |
12400/173600 | ₹471 (114.09%) | 25-Sep-2024 |
| 24-09-2024 | 220.00 | ₹239  |
11800/165200 | ₹459 (108.64%) | 24-Sep-2024 |
| 23-09-2024 | 220.00 | ₹240 |
11900/166600 | ₹460 (109.09%) | 23-Sep-2024 |
| 22-09-2024 | 220.00 | ₹223 |
11000/154000 | ₹443 (101.36%) | 22-Sep-2024 |
| 21-09-2024 | 220.00 | ₹223 |
11000/154000 | ₹443 (101.36%) | 21-Sep-2024 |
| 20-09-2024 | 220.00 | ₹223 |
11000/154000 | ₹443 (101.36%) | 20-Sep-2024 |
| 19-09-2024 | NA | ₹225 |
— | ₹225 (%) | 19-Sep-2024 |
| 18-09-2024 | NA | ₹225 |
— | ₹225 (%) | 18-Sep-2024 |
| 17-09-2024 | NA | ₹225 |
— | ₹225 (%) | 17-Sep-2024 |
| 16-09-2024 | NA | ₹215 |
— | ₹215 (%) | 16-Sep-2024 |
KRN Heat Exchanger and Refrigeration Limited IPO subscription status
KRN Heat Exchanger IPO subscribed 58.55 times. The public issue subscribed 56.14 times in the retail category, 3.16 times in QIB, and 136.22 times in the NII category by September 26, 2024.
| Investor Category | Subscription (times) | Shares Offered | Shares Bid for | Total Amount (Rs Cr.)* |
|---|---|---|---|---|
| Qualified Institutions | 3.16 | 3,107,455 | 98,05,185 | 215.71 |
| Non-Institutional Buyers | 136.22 | 2,387,215 | 32,51,78,815 | 7,153.93 |
| bNII (bids above ₹10L) | 111.74 | 1,591,477 | 17,78,37,985 | 3,912.44 |
| sNII (bids below ₹10L) | 185.16 | 795,738 | 14,73,40,830 | 3,241.50 |
| Retail Investors | 56.14 | 5,498,330 | 30,86,78,305 | 6,790.92 |
| Employees | [.] | 0 | 0 | 0 |
| Others | [.] | 0 | 0 | 0 |
| Total | 58.55 | 10,993,000 | 64,36,62,305 | 14,160.57 |
Total Application : 3,753,451 (44.37 times)
Disclaimer: *The total amount is calculated based on the final issue price or the price in the upper price range.
KRN Heat Exchanger IPO (Day-wise) Subscription Details (times)
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 1 September 25, 2024 |
1.44 | 55.59 | 27.24 | 26.11 |
| Day 2 September 26, 2024 |
3.16 | 136.22 | 56.14 | 58.55 |
KRN Heat Exchanger and Refrigeration Limited IPO Allotment status
The allotment status of KRN Heat Exchanger IPO is expected to be available on September 30, 2024.
KRN Heat Exchanger IPO allotment status is not available at this time. KRN Heat Exchanger IPO – The allotment status will be available once the basis of the allotment is finalized. Please revisit us to check the latest updates for KRN Heat Exchanger and Refrigeration Limited IPO allotment status.
To check KRN Heat Exchanger IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number, or DP Client ID (Anyone).
- Click on Search.
On securing the allotment, you will receive the credit of equivalent shares in your Demat account.
If you have any concerns or queries about the allotment status, contact Bigshare Services Pvt Ltd either by phone or email. Investors can call +91-22-6263 8200 or send an email with all relevant details to ipo@bigshareonline.com.
KRN Heat Exchanger and Refrigeration Limited Contact Details
KRN Heat Exchanger and Refrigeration Limited
Plot No. F – 46, 47, 48, 49 EPIP,
RIICO Industrial Area,
Neemrana, Alwar
Phone: +91 – 9257025440
Email: cs@krnheatexchanger.com
Website: http://www.krnheatexchanger.com/
Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.
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