The Initial Public Offering (IPO) of KRN Heat Exchanger and Refrigeration Limited will open on September 25. Investors will be able to bid for this IPO till September 27. The company's shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 3.
KRN Heat Exchanger & Refrigeration wants to raise a total of ₹341.51 crore through this issue. For this, the company will issue 15,523,000 fresh shares worth ₹341.51 crore. The existing investors of the company are not selling a single share through Offer for Sale i.e. OFS.
If you are also planning to invest money in this, then we are telling you how much you can invest in this.
What is the minimum and maximum amount that can be invested? KRN Heat Exchanger & Refrigeration has fixed the IPO price band at ₹209 to ₹220. Retail investors can bid for a minimum of one lot i.e. 65 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹220, then you will have to invest ₹14,300 for it.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 845 shares. For this, investors will have to invest ₹ 185,900 according to the upper price band.
35% of the issue is reserved for retail investors The company has reserved 50% of the issue for qualified institutional buyers (QIB). Apart from this, 35% is reserved for retail investors and the remaining 15% is reserved for non-institutional investors (NII).
The company manufactures tube type heat exchangers KRN Heat Exchanger manufactures fin and tube type heat exchangers for the heat ventilation air conditioning and refrigeration industry (HVAC&R). According to the documents, the company supplies various parts including condenser coils, evaporator units, evaporator coils, headers/copper parts, fluid and steam coils.
These products are purchased from KRN Heat Exchanger by customers like Daikin Air Conditioning India, Schneider Electric IT Business India, Kirloskar Chillers, Blue Star, Climaventa Climate Technologies and Frigel Intelligent Cooling Systems India.
What is IPO? When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
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