KRN Heat Exchanger IPO allotment: Check status, GMP, likely listing price

Once the allotment of KRN Heat Exchanger IPO is finalised, investors can check their status by visiting the official websites of BSE, NSE, or Bigshare Services

KRN Heat Exchanger IPO allotment today: The basis of allotment for KRN Heat Exchanger and Refrigeration's initial public offering (IPO) shares is likely to be finalised today. The IPO, which closed on Friday, September 27, 2024, garnered robust investor interest, with oversubscription reaching 214.42 times. The offering received bids for 2,357,139,005 shares, significantly exceeding the 109,930,000 shares offered. Non-Institutional Investors led with a subscription 431.63 times, followed by Qualified Institutional Buyers at 253.04 times, and Retail Individual Investors at 98.29 times, as per BSE data.

KRN Heat Exchanger IPO allotment status

The shares of KRN Heat Exchanger are scheduled to be allotted today. Once the allotment is finalised, investors can check the status by visiting the official websites of BSE, NSE, or Bigshare Services, the registrar for the issue.

 

Alternatively, investors can use the following links to check the allotment status directly:

- Check KRN Heat Exchanger IPO allotment status on BSE: https://www.bseindia.com/investors/appli_check.aspx

- Check KRN Heat Exchanger IPO allotment status on Bigshare Services: https://ipo.bigshareonline.com/IPO_Status.html

- Check KRN Heat Exchanger IPO allotment status on NSE: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp

KRN Heat Exchanger grey market premium (GMP)

The unlisted shares of KRN Heat Exchanger continue to command a strong premium in the grey market. On Monday, the company’s shares were trading at a premium of Rs 270, or 122.73 per cent over the upper band of the IPO price of Rs 220, according to sources tracking grey market activities. However, the GMP has fallen by Rs 6 from Rs 276, quoted on September 27, when the issue opened for public subscription.

Also Read: Diffusion Engineers IPO GMP

KRN Heat Exchanger expected listing price

Following the allotment, shares of KRN Heat Exchanger are expected to debut on the bourses on Thursday, October 3, 2024, by listing on BSE, and NSE. If the current grey market premium holds, KRN Heat Exchanger shares may list around Rs 490 (GMP + upper end of IPO price), offering more than double returns to investors who are allotted the company’s shares.

KRN Heat Exchanger IPO details

Through the IPO, KRN Heat Exchanger offered a fresh issue of 15,543,000 shares, with a price band of Rs 209-220. The IPO was available from Wednesday, September 25, 2024, to Friday, September 27, 2024. 

KRN Heat Exchanger will use the net proceeds from the IPO to invest in its wholly-owned subsidiary, KRN HVAC Products Pvt Ltd, for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan, and for general corporate purposes.

KRN Heat Exchanger and Refrigeration is a leading manufacturer serving the HVAC&R industry. The company’s product range includes fin and tube heat exchangers, water coils, condenser coils, evaporator coils, and heat exchanger tubes in various sizes.