KRN Heat Exchanger and Refrigeration Ltd IPO Opens On September 25. Check IPO Details Issue Date Price

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KRN Heat Exchanger and Refrigeration Ltd IPO Opens On September 25. Check IPO Details Issue Date Price

September 25, 2024
KRN Heat Exchanger and Refrigeration Ltd  IPO Opens On September 25. Check IPO Details Issue Date Price

KRN Heat Exchanger and Refrigeration Limited is coming out with an initial public offer to raise Rs. 341.95 crores from the market.

Below are the details of the KRN Heat Exchanger and Refrigeration Limited IPO:

  • Issue opens – September 25 (Wednesday)
  • Issue closes – September 27 (Friday)
  • Issue size – Rs. 341.95 crores
  • Price band – Rs. 209 to 220 per equity share
  • Bid lot – 65 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • KRN heat Exchanger and Refrigeration Limited manufactures fin and tube type heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration Industry (“HVAC&R”). Heat exchangers manufactured by them are made of non-ferrous metals primarily Copper and Aluminium. Their product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils and sheet metal parts. They manufacture heat exchangers of various shapes and sizes as per the requirements of the customers and/or demand in the market. The diameter of heat exchanger tubes they produce ranges from 5MM to 15.88 MM. Their products are well suited for wide range of air conditioning, heating and ventilation, refrigeration, and process cooling applications.
  • To enhance the longevity and corrosion resistance of heat exchangers and their components, various types of coatings such as nano coating, and powder coating are applied to the surfaces of copper tubes, brazing joints, and fin sheets. By applying these advanced coatings to heat exchangers and their components, their products ensure that the heat exchanger operates efficiently over an extended period, reducing maintenance costs and enhancing overall performance. Their products are vital for the performance of cooling appliances and have undergone stringent quality and checks. They adheres to some of the industry’s best-quality product accreditations. Their entire manufacturing operations are carried out at their consolidated manufacturing facility comprising 2 industrial plots situated in the RIICO Industrial Area, Neemrana, Rajasthan.

Issue Size : Rs. 341.95 Cr

Issue break-up :

QIB – 50 % of the offer – Rs. 168.46 Cr.
NIB – 15 % of the offer – Rs. 52.52 Cr.
RET – 35 % of the offer – Rs. 120.96 Cr.

Listing : BSE & NSE

Registrar : Bigshare Services Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Friday, September 27th, 2024.

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