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Attribution of KRN heat exchanger IPO today: The basis for allotment of KRN Heat Exchanger and Refrigeration shares for the initial public offering (IPO) is expected to be finalized today. The IPO, which closed on Friday September 27, 2024, attracted strong investor interest, with oversubscription reaching 214.42 times. The offering received bids for 2,357,139,005 shares, far exceeding the 109,930,000 shares on offer. Non-institutional investors topped the list with subscription of 431.63 times, followed by qualified institutional buyers with 253.04 times and retail individual investors with 98.29 times, according to BSE data.
Award Status of KRN Heat Exchanger IPO
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KRN Heat Exchanger shares are expected to be allocated today. Once the allotment is finalized, investors can check the status by visiting the official websites of BSE, NSE or Bigshare Services, the issue registrar.
Alternatively, investors can use the following links to check the status of the award directly:
– Check the allocation status of KRN Heat Exchanger IPO on BSE: https://www.bseindia.com/investors/appli_check.aspx
– Check the allocation status of KRN Heat Exchanger IPO on Bigshare Services: https://ipo.bigshareonline.com/IPO_Status.html
– Check allocation status of KRN Heat Exchanger IPO on NSE: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
Gray Market Premium for KRN Heat Exchangers (GMP)
KRN Heat Exchanger’s unlisted shares continue to command a strong premium on the gray 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 gray market activities. However, the GMP fell by Rs 6 from Rs 276, listed on September 27, when the issue opened for public subscription.
Predicted Listing Price for KRN Heat Exchanger
Following the allotment, shares of KRN Heat Exchanger are expected to debut on the stock exchanges on Thursday, October 3, 2024, by being listed on the BSE and the NSE. If the current gray market premium continues, KRN Heat Exchanger shares could be listed at around Rs 490 (GMP + upper end of IPO price), offering more than double returns to investors who are allotted shares of the company.
KRN Heat Exchanger IPO Details
Through the IPO, KRN Heat Exchanger has proposed 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 plant at Neemrana, Alwar, Rajasthan, and for general purposes of the company.
KRN Heat Exchanger and Refrigeration is a leading manufacturer serving the HVAC and R industry. The company’s product line includes fin and tube heat exchangers, water coils, condenser coils, evaporator coils and heat exchanger tubes of different sizes.
First publication: September 30, 2024 | 8:54 a.m. STI