The issue opened for bidding on Wednesday (25 September 2024) and it will close on Friday (27 September 2024). The price band of the IPO was fixed between Rs 209 to 220 per share. An investor can bid for a minimum of 65 equity shares and in multiples thereof.
The IPO comprises fresh issue of equity shares of 1,55,23,000 equity share of Rs 10 face value.
Of the net proceeds from the fresh issue, about Rs 242.46 crore will be used towards investment in equity of KRN HVAC Products (a wholly owned subsidiary of the company) which is setting up a new manufacturing facility at Neemrana and the balance of net proceeds is used for general corporate purposes.
Ahead of the IPO, KRN Heat Exchanger and Refrigeration on Tuesday, 24 September 2024, raised Rs 100.10 crore from anchor investors. The board allotted 45.50 lakh shares at Rs 220 each to 10 anchor investors.
KRN Heat Exchanger and Refrigeration (KHERL), promoted by Santosh Kumar Yadav, manufactures fin and tube type heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration Industry ('HVAC&R'). It acts as an OEM supplier for the HVAC industry in India, specializing in manufacturing heat exchangers used in commercial air-conditioning and packaging air conditioning products such as process cooling equipment, data cooling centers, railways/metros, and other commercial air conditioning units.
The firm reported a consolidated net profit of Rs 39.07 crore and Sales of Rs 308.28 crore for the twelve months ended on 31 March 2024.
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0 mins read . Dec 18, 2024
0 mins read . Dec 18, 2024
