KRN Heat Exchanger IPO
KRN Heat Exchanger IPO open for bidding on 25th September 2024 and ends on 27th September 2024.
KRN Heat Exchanger and Refrigeration Limited, established in 2017, specializes in manufacturing fin and tube-type heat exchangers for the HVAC&R industry. The company’s product portfolio includes condenser coils, evaporator units, fluid and steam coils, and sheet metal parts, all primarily made from copper and aluminum.
KRN offers customized solutions and manufactures heat exchangers in various shapes and sizes based on market demand and customer requirements. Its products are widely utilized across industries like air conditioning, refrigeration, and process cooling applications.
With a focus on quality, KRN employs advanced nanocoatings and powder coatings to enhance corrosion resistance and longevity, ensuring efficient performance. The company is ISO 9001:2015 certified and adheres to stringent quality control processes, serving both domestic and international markets. KRN continues to expand its global footprint, targeting key regions like North America and Europe, with a vision to grow its market share and diversify its customer base.
For more details refer to KRN Heat Exchanger IPO RHP and KRN Heat Exchanger IPO Pulse Score
KRN Heat Exchanger IPO Details
| IPO Date | 25th September 2024 to 27th September 2024 |
| Listing Date | 3rd October 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹209 to ₹220 per share |
| Lot Size | 65 Shares |
| Total Issue Size | 1,55,43,000 shares (aggregating up to ₹341.95 Cr) |
| Fresh Issue | 1,55,43,000 shares (aggregating up to ₹341.95 Cr) |
| Issue Type | Book Built Issue IPO |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor | 45,50,000(29.3%) |
| QIB | 31,07,455(20%) |
| NII | 23,87,215(15.3%) |
| bNII | 15,91,477(10.2%) |
| sNII | 7,95,738(5.1%) |
| Retail | 54,98,330(35.4%) |
| Total | 1,55,43,000(100%) |
Note: The financial data for March 2022 and March 2023 are presented on a standalone basis, while the data for March 2024 is provided on a consolidated basis.
KRN Heat Exchanger IPO Timeline
| IPO Open | 25th September 2024 |
| IPO Close | 27th September 2024 |
| Basis Of Allotment | 30th September 2024 |
| Initiation of Refunds | 1st October 2024 |
| Credit of Shares to Demat | 1st October 2024 |
| Listing Date | 3rd October 2024 |
Fundamentals
Data as of 31st March 2024
| Market Cap | ₹1,367.01 Cr | P/E Ratio- Pre IPO | 25.32 |
| RoNW | 29.68% | P/E Ratio- Post IPO | 33.74 |
| RoCE | 31.21% | P/B Ratio | 7.71 |
| Debt to Equity | 0.45 | PAT Margin% | 12.67% |
Note: P/E Ratio -Pre IPO is calculated based on Pre-issue Shareholding and FY Earnings of March 2024. P/E Ratio- Post IPO is calculated based on Post-issue shareholding and annualized FY Earnings of March 2024.
KRN Heat Exchanger IPO Objectives
The company proposes to utilize the Net Proceeds towards the funding of the following objects:
- Investment in the wholly owned subsidiary KRN HVAC Products Private Limited in the form of equity, for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan (“Proposed Project”); and
- General corporate purposes.
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