KRN Heat Exchanger and Refrigeration IPO subscribed 24 times on the first day. Check the GMP and more details
KRN Heat Exchanger and Refrigeration makes fin and tube-type heat exchangers for HVAC&R, including condenser coils and evaporator units. Products, made from copper and aluminum, serve air conditioning, refrigeration, data centers, and medical equipment. Advanced coatings ensure durability. Their Neemrana, Rajasthan plant uses cutting-edge tech, and they hold ISO certifications for quality and environmental standards.
KRN Heat Exchanger and Refrigeration Other Details
| Details | Information |
|---|---|
| Open Date | 25 Sep, 2024 |
| Close Date | 27 Sep, 2024 |
| Allotment Date | 30 Sep, 2024 |
| Listing Date | 03 Oct, 2024 |
| Issue Price | ₹209-220 per equity share |
| Face Value | ₹10 per equity share |
| Listing at | BSE, NSE |
| Registrar | Bigshare Services Pvt Ltd |
| Market Lot (Retail) | 65 Shares (₹14,300/-) |
| Market Lot (S-HNI) | 910 Shares (₹2,00,200/-) |
| Market Lot (B-HNI) | 4,550 Shares (₹10,01,000/-) |
| Issue Size | 15,523,000 shares (aggregating up to ₹341.5 Cr) |
| Retail Portion | 35% |
| Number of Retail Applications | 83,585 Approx |
| Number of S-HNI Applications | 853 Approx |
| Number of B-HNI Applications | 1,706 Approx |
KRN Heat Exchanger and Refrigeration Financials
| Category | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
|---|---|---|---|
| Assets (₹ crore) | 258.36 | 148.76 | 92.79 |
| Revenue (₹ crore) | 313.54 | 249.89 | 158.23 |
| Profit After Tax (₹ crore) | 39.07 | 32.31 | 10.59 |
Company Promotors
- Mr. Santosh Kumar Yadav
- Mrs. Anju Devi
- Mr. Manohar Lal
KRN Heat Exchanger and Refrigeration GMP Today
The current GMP of the company is around Rs.225 – 239 which is around 103% of the Issue price . It is expected that investors can get a profit of 103% per lot if the stock lists at such GMP price.
Note: The GMP fluctuates on the basis of market demand.
Issue Objectives
1) To invest in KRN HVAC Products Pvt Ltd, a wholly owned subsidiary, to establish a new manufacturing facility in Neemrana, Alwar, Rajasthan.
2) General Corporate Purpose
KRN Heat Exchanger and Refrigeration Strength & Weakness
| Strength | Weakness |
|---|---|
| Revenue grew to ₹16,064.24 lakh in 2023, with a CAGR of 48.34% over the last 3 years. | Plans to invest ₹22,688.54 lakh in a new facility; delays or cost overruns could impact the budget of ₹24,410.98 lakh. |
| Extensive manufacturing capability in Neemrana ensures cost and quality control. | Heavy dependence on top 10 customers (75.94% of revenue in 2023); any reduction in orders could harm financials. |
| In-house quality management system with 41 employees and multi-level tests (Helium, Water Leak Tests). | 80.58% of raw materials were imported (as of September 2023); import restrictions or tariffs could increase costs and disrupt operations. |
Disclaimer:
The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision.