The KRN Heat Exchanger IPO will open on September 25, 2024, and will close on September 27, 2024. Notably, this IPO will follow a book-building process. Furthermore, the company plans to raise approximately ₹341.95 crore, which includes a fresh issue of ₹341.95 crore. In addition, each with a face value of ₹10.
Table of contents
- KRN Heat Exchanger IPO Overview
- Company Details
- Key Dates
- Financials (₹ in Crores)
- IPO Lot Size
- The objective of the Issue
- Company Promoters
- KRN Heat Exchanger IPO GMP (Grey Market Premium)
- KRN Heat Exchanger IPO Application Form PDF
- KRN Heat Exchanger IPO Subscription Status
- KRN Heat Exchanger IPO Allotment Status
- IPO Review
- KRN Heat Exchanger IPO Registrar
- KRN Heat Exchanger IPO Lead Manager
- KRN Heat Exchanger and Refrigeration Limited Contact
- FAQs
KRN Heat Exchanger IPO Overview
| Overview Points | Description |
|---|---|
| Company Name | KRN Heat Exchanger and Refrigeration Limited |
| Industry | Manufacturing |
| IPO Issue Type | Book Built Issue |
| Open Date | September 25, 2024 |
| Close Date | September 27, 2024 |
| Total Issue Size | ₹341.95 Crores (15,543,000 Equity Shares) |
| Fresh Issue | ₹341.95 Crores (15,543,000 Equity Shares) |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹209 to ₹220 per share |
| Listing on | BSE & NSE |
| Lot Size | 65 Shares |
| Offer for Sale | NA |
| Shares Offered to Retail | 35% |
| Shares Offered to QIB | 50% |
| Shares Offered to HNI | 15% |
Company Details
Established in 2017, KRN Heat Exchanger and Refrigeration Limited has quickly become one of the leading manufacturers and exporters of copper and aluminum fin and tube heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration (HVAC&R) industry. Moreover, the company’s diverse product range includes condenser coils, evaporator units, evaporator coils, header and copper parts, fluid and steam coils, as well as sheet metal components. In addition to this, KRN Heat Exchanger is strongly committed to delivering outstanding solutions, offering customized products that adhere to international quality standards. Furthermore, the company exports 33% of its total production worldwide.
KRN Heat Exchanger and Refrigeration Limited is proud to serve a number of prestigious clients, including 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. In addition to its domestic clientele, the company also exports its products to international markets, including the UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, the UK, and several other countries.
Key Dates
| Events | Date |
|---|---|
| IPO Open Date | September 25, 2024 |
| IPO Close Date | September 27, 2024 |
| Basis of Allotment | September 30, 2024 |
| Refunds | September 30, 2024 |
| Credit to Demat Account | October 1, 2024 |
| IPO Listing Date | October 3, 2024 |
Financials (₹ in Crores)
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | ₹258.36 | ₹148.76 | ₹92.79 |
| Revenue | ₹313.54 | ₹249.89 | ₹158.23 |
| Profit After Tax | ₹39.07 | ₹32.31 | ₹10.59 |
| Net Worth | ₹131.65 | ₹59.57 | ₹25.53 |
| Total Borrowing | ₹59.69 | ₹36.64 | ₹22.12 |
IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,300 |
| Retail (Max) | 13 | 845 | ₹185,900 |
| S-HNI (Min) | 14 | 910 | ₹200,200 |
| B-HNI (Min) | 70 | 4,550 | ₹10,01,000 |
The objective of the Issue
- The company is planning to invest in its wholly owned subsidiary, KRN HVAC Products Pvt Ltd, in order to set up a new manufacturing facility in Neemrana, Alwar, Rajasthan.
- Moreover, this investment will also be allocated towards general corporate purposes.
Company Promoters
- Mr. Santosh Kumar Yadav
- Mrs. Anju Devi
KRN Heat Exchanger IPO GMP (Grey Market Premium)
Are you curious about the latest Grey Market Premium (GMP) for the KRN Heat Exchanger IPO? Look no further! Visit our dedicated IPO GMP section where we keep you in the loop with daily updates on all IPOs, including KRN Heat Exchanger and Refrigeration Limited. Additionally, stay ahead of the game with real-time GMP insights that can help you make informed investment decisions. Whether you’re a seasoned investor or just getting started, our updates have got you covered!
KRN Heat Exchanger IPO Application Form PDF
To download the KRN Heat Exchanger IPO application form, simply check out the IPO Forms. Additionally, you can download the ASBA IPO Forms PDF.
KRN Heat Exchanger IPO Subscription Status
This IPO subscription kicks off on September 25, 2024! Meanwhile, if you’re looking to stay updated with the latest subscription figures, head over to our IPO Subscription section for real-time data on all ongoing IPOs. Moreover, don’t miss out on the action—track the progress as it happens!
KRN Heat Exchanger IPO Allotment Status
To check the KRN Heat Exchanger IPO allotment status go to the IPO registrar website Bigshare or go to IPO Allotment.
Furthermore, To check allotment status. Firstly, follow the steps below:
- Firstly, go to the link given above.
- Secondly, select the company name.
- Then, enter your PAN Number, Beneficiary Number, Application Number, or CAF Number.
- Finally, submit the details to get the allotment status.
IPO Review
Strengths:
- KRN Heat Exchanger and Refrigeration Limited has demonstrated strong financial performance, with revenue reaching ₹16,064.24 lakh in 2023, reflecting a compound annual growth rate (CAGR) of 48.34% over the past three years. This impressive growth indicates robust market demand and effective business strategies.
- The company has developed significant manufacturing capabilities at its RIICO industrial area facility in Neemrana, which is fully equipped for comprehensive production. This setup allows KRN to maintain control over quality and achieve cost advantages compared to competitors who outsource production stages.
- Additionally, KRN has established a thorough in-house quality management system, supported by 41 dedicated employees. This system ensures product excellence through rigorous multi-level checks, including Helium and Water Leak Tests, thereby reinforcing the company’s reputation for quality and reliability in the market.
Risks:
- However, there are notable risks associated with the company’s operations. KRN plans to invest ₹22,688.54 lakh in a new manufacturing facility, but potential delays or cost overruns in acquiring machinery and constructing the facility could significantly exceed the projected ₹24,410.98 lakh budget, impacting financial stability.
- Furthermore, a substantial portion of the company’s revenue, 75.94% in 2023, comes from a few key customers. Any loss or reduction in orders from these major clients could adversely affect the company’s business and financial performance.
- Lastly, as of September 2023, 80.58% of KRN’s raw materials were imported. Consequently, new import restrictions or tariffs could lead to increased costs and disruptions in the supply chain, which might negatively impact operations and profitability.
KRN Heat Exchanger IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
KRN Heat Exchanger IPO Lead Manager
HOLANI CONSULTANTS PRIVATE LIMITED
401 – 405 & 416 – 418, 4th Floor, Soni Paris Point,
Jai Singh Highway, Bani Park, Jaipur – 302016
Phone: +91 0141 – 2203996
Email: ipo@holaniconsultants.co.in
Website: www.holaniconsultants.co.in
KRN Heat Exchanger and Refrigeration Limited Contact
KRN HEAT EXCHANGER AND REFRIGERATION LIMITED
Plot No. F – 46, 47, 48, 49 EPIP, RIICO Industrial Area,
Neemrana, Alwar Rajasthan-301705, India
Phone: +91 – 9257025440
Email: cs@krnheatexchanger.com
Website: www.krnheatexchanger.com
FAQs
The KRN Heat Exchanger’s IPO will open for subscription on September 25, 2024, and will be available to QIBs, NIIs, and retail investors. Additionally, the IPO will close on September 27, 2024.
For the KRN Heat Exchanger’s IPO, the allocation is divided as follows: 50% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors.
To apply for the KRN Heat Exchanger’s IPO, you can either use the ASBA facility online through your bank account or opt for UPI through your stockbroker. Alternatively, you can complete an offline application form through your stockbroker.
The allotment date for the KRN Heat Exchanger’s IPO is September 30, 2024.
The KRN Heat Exchanger’s IPO is scheduled to be listed on October 3, 2024, on both BSE and NSE.
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