KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | - |
| Lot Size | - |
| Total Issue Size | 1,55,23,000 shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | 1,55,23,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 4,39,99,980 |
| Shareholding post issue | 5,95,22,980 |
| Book Running Lead Manager | Holani Consultants Private Limited |
| Registrar | Bigshare Services Pvt Ltd |
About KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details
Specializing in the manufacturing of fin & tube-type heat exchanges for the Heat Ventilation Air Conditioning and Refrigeration industry, KRN Heat Exchanger and Refrigeration Limited will be out with its IPO soon. HRN manufactures items made of non-ferrous metals, primarily Aluminium and Copper. The company’s product range includes,
- • Evaporator Units and Coils
- • Condenser Coils
- •Header/Copper parts
- • Steam Coils
- • Fluid Coils
- •Sheet Metal parts
The heat exchanger manufactured by KRN Heat Exchanger and Refrigeration Limited IPO comes in varied shapes and sizes, based on customers’ requirements and the market demand. The heat exchanger tube diameter ranges between 5mm-15.88mm. All products are well-suited for the wide air conditioning, refrigeration, heating and ventilation, and the refrigeration and process cooling applications.
KRN Heat Exchanger Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% |
| Retail Shares Offered | Not less than 35% |
| NII (HNI) Shares Offered | Not less than 15% |
Company & Financials
Leading manufacturer of fin and tube-type heat exchangers, KRN Heat Exchanger and Refrigeration Ltd manufacture Aluminum and Copper fins and copper tubes, water coils, heat exchangers, etc. With its manufacturing facility in Neemrana, Rajasthan, it manufactures heat exchanger tubes of shapes and sizes with diameters of 5mm-7mm, 9.52mm, 12.7mm, and 15.88mm. For manufacturing/production, the company uses the latest coil manufacturing machines like,
- ● Vertical Expander
- ● CNC Tube Bender
- ● Fin Press Machine
- ● Hair Pin Bender, etc.
The products offered by KRN Heat Exchanger and Refrigeration Limited IPO are used in, the Commercial, Domestic, and Industrial Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC&R) industry. The prestigious customers list of the company includes,
- •Daikin Air Conditioning India Pvt Ltd
- •Schneider Electric IT Business India Pvt Ltd
- •Kirloskar Chillers Private Ltd
- •Blue Star Ltd
- •Climaveneta Climate Technologies Pvt Ltd
- •Frigel Intelligent Cooling Systems India Pvt Ltd
The products are also exported to countries like the UAE, the USA, Germany, Saudi Arabia, Norway, Italy, the Czech Republic, the UK, and more.
Objectives of KRN Heat Exchanger IPO
The company proposes the use of Net Proceeds from the issue towards objectives, including,
- •Invest in Wholly Owned Subsidiary, KRN HVAC Products Pvt Ltd to set up a new manufacturing facility in Neemrana.
- •Prepayment/repayment of all or a portion of some loans that have been availed by the company.
- •Funding the company’s working capital requirements.
- •General corporate purposes.
KRN Heat Exchanger IPO Review
KRN Heat Exchanger is an emerging leader in fin tubes and other heat exchange-related products for the B2B segment. The company has some major blue-chip clients including,
- •Daikin
- •Blue Star
- •Voltas
- •Carrier Aircon and others
- It shows a significant growth for FY23 and FY24. With expansion plans afoot, the company is poised to gallop its performance in the upcoming years. Based on the FY24 earnings, the issue appears fully priced. Investors might lap it up for the medium-long term.
KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details Financial Information
Latest Revenue
313.54
₹ Crore
Profit After Tax
39.07
₹ Crore
Net Worth
131.65
₹ Crore
Total Borrowing
59.69
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 258.36 | 313.54 | 39.07 | 131.65 | 59.69 | ||||
| 31 Mar 2023 | 148.76 | 249.89 | 32.31 | 59.57 | 36.64 | ||||
| 31 Mar 2022 | 92.79 | 158.23 | 10.59 | 25.53 | 22.12 | ||||
| Amount in ₹ Crore | |||||||||
IPO Estimated Listing Return
Based on the IPO Price of ₹220 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹235106 and a lot size of 65 shares.
KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-10-03 | ₹220 | ₹235 (106.82%) | 2024-10-03 |
KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| RoNW | 29.68% |
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Competitive Strengths
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KRN Heat Exchanger and Refrigeration Limited IPO, GMP, Details IPO Timeline
| 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 |
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid 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 |