KRN Heat Exchanger is scheduled to hit the market on September 25, 2024 and close on September 27, 2024. KRN Heat Exchanger plans to raise around ₹341.51 Cr through an IPO with a sale of up to 15,523,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
KRN Heat Exchanger and Refrigeration Ltd is a top manufacturer of fin and tube-type heat exchangers. The company makes heat exchangers using copper and aluminium fins along with copper tubes. Their products include water coils, condenser coils, and evaporator coils, with tube sizes ranging from 5 mm to 15.88 mm in diameter. These products are used across various sectors in the Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC&R) industry, catering to domestic, commercial, and industrial needs.
The company serves many well-known clients such as Daikin Airconditioning India Pvt Ltd, Schneider Electric IT Business India Pvt Ltd, and Kirloskar Chillers Private Ltd. They also export their products to countries like the UAE, USA, Italy, and Germany. KRN's manufacturing facility is located in Neemrana, Rajasthan, covering an area of 7,800 square meters. They utilize advanced manufacturing machines like the Hair Pin Bender and CNC Tube Bender to produce high-quality products.
KRN Heat Exchanger IPO Details
KRN Heat Exchanger IPO opens on September 25, 2024, and closes on September 27, 2024. The Listing date for KRN Heat Exchanger IPO is on October 03, 2024. The price band for IPO is ₹202 to ₹220 per share and lot size of 65 Shares.
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date | October 03, 2024 |
| Price | ₹202 to ₹220 per share |
| Lot Size | 65 Shares |
| Issue Size | ₹341.51 Cr |
| Face Value | ₹10 per share |
KRN Heat Exchanger IPO Tentative Timetable
KRN Heat Exchanger opening date is September 25, 2024 and close date is September 27, 2024. The IPO allotment date is September 30, 2024. Therefund initiation of IPO is on October 01, 2024. The credit of shares in demat account is on October 01, 2024. The listing date is on October 03, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 25, 2024 |
| IPO Closing | September 27, 2024 |
| IPO Allotment Date | September 30, 2024 |
| Refund Initiation | October 01, 2024 |
| Shares Credit to Demat | October 01, 2024 |
| Lisiting Date | October 03, 2024 |
KRN Heat Exchanger IPO Lot Size
Lot Size of this IPO is 65 shares. A retail-individual investor can apply for up to 13 lots (845 shares or ₹185,900).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 65 | ₹14,300 |
| Retail(Maximum) | 13 | 845 | ₹185,900 |
| S-HNI (Minimum) | 14 | 910 | ₹200,200 |
| B-HNI (Minimum) | 70 | 4,550 | ₹1,001,000 |
KRN Heat Exchanger IPO Promoter Holding
| Pre Issue Share Holding | 94.39% |
| Post Issue Share Holding |
KRN Heat Exchanger IPO Review
The company is launching its first IPO through a book building process, offering 15,543,000 new equity shares with a face value of Rs. 10 each. The total value at the highest price is Rs. 341.95 crore.
On the financial performance front, for the last three fiscals, the company has posted a total income/net profit of Rs. 158.23 cr. / Rs. 10.59 cr. (FY22), Rs. 249.89 cr. / Rs. 32.31 cr. (FY23), and Rs. 313.54 cr. / Rs. 39.07 cr. (FY24).
For the last three fiscals, the company has reported an average EPS of Rs. 7.19, and an average RoNW of 39.83%. The issue is priced at a P/BV of 7.71 based on its NAV of Rs. 28.53 as of March 31, 2024, and at a P/BV of 2.83 based on its post-IPO NAV of Rs. 77.68 per share (at the upper cap).
If we attribute FY24 annualized earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 34.98. and based on FY23 earnings, the P/E stands at 42.31. The issue relatively appears fully priced.
The company reported PAT margins of 6.78% (FY22), 13.06% (FY23), 12.67% (FY24), and RoCE margins of 34.65%, 50.46%, 31.21% for the referred periods, respectively.
The company is becoming a leader in fin tubes and other heat exchange products for businesses. It has well-known clients like Daikin, Blue Star, Voltas, and Carrier Aircon. The company saw good growth in FY23 and FY24, and with its plans for expansion, it is expected to perform very well in the coming years. Although the current price seems high based on FY24 earnings, investors may still consider it a good option for the medium to long term.
KRN Heat Exchanger IPO Subscription Status (Bidding Details)
Table not foundKRN Heat Exchanger IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
KRN Heat Exchanger IPO FAQs
What is KRN Heat Exchanger IPO?
KRN Heat Exchanger is issuing 15,523,000 equity shares with a face value of ₹10 each, totaling up to ₹341.51 Cr. The shares are being offered at a price of ₹202 to ₹220 each, with a minimum order quantity of 65 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When KRN Heat Exchanger IPO will open?
KRN Heat Exchanger will open on September 25, 2024 for QIB, NII, and Retail Investors.
When KRN Heat Exchanger IPO will end?
KRN Heat Exchanger will end on September 27, 2024.
What is KRN Heat Exchanger IPO Size?
KRN Heat Exchanger IPO size is ₹341.51 Cr.
What is KRN Heat Exchanger IPO Price Band?
KRN Heat Exchanger price band is ₹202 to ₹220 per share.
What is KRN Heat Exchanger IPO Allotment Date?
KRN Heat Exchanger allotment date is September 30, 2024.
What is KRN Heat Exchanger IPO Listing Date?
KRN Heat Exchanger listing date is October 03, 2024. The IPO is to be listed on BSE and NSE.
How to KRN Heat Exchanger IPO through Zerodha?
To apply for the IPO “KRN Heat Exchanger” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply KRN Heat Exchanger IPO through Upstox?
To apply for the IPO “KRN Heat Exchanger” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check KRN Heat Exchanger IPO Allotment Status?
For KRN Heat Exchanger IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is KRN Heat Exchanger IPO GMP?
You can check out here: KRN Heat Exchanger IPO GMP. Check all IPO GMP here.