KRN Heat Exchanger Share Price Live Updates: Today marks the debut of KRN Heat Exchanger and Refrigeration shares on the stock market. KRN Heat Exchanger shares will participate in the Special Pre-open Session (SPOS) and will be open for trading starting at 10:00 AM.
On Wednesday, September 25, the public subscription for KRN Heat Exchanger and Refrigeration Ltd, based in Rajasthan, began and concluded on Friday, September 27. KRN Heat Exchanger raised ₹100 crore from anchor investors.
KRN Heat Exchanger IPO includes a fresh issue of 1,55,43,000 equity shares valued at ₹342 crore at the upper end of the price band.
On Friday, the IPO bidding concluded with an overwhelming subscription of 214.42 times, as bids were placed for 2,35,71,39,005 shares against the 1,09,93,000 shares available.
The non-institutional investors category experienced an exceptional subscription of 431.63 times, while the retail individual investors (RIIs) portion was subscribed 98.29 times. The QIB category saw a subscription of 253.04 times.
The initial public offer of KRN Heat Exchanger and Refrigeration Ltd was fully subscribed within minutes of opening for share sale on Wednesday and finally ended with 23.73 times subscription.
The company supplies fin and tube-type heat exchangers to the heat ventilation air conditioning and refrigeration industry.
The company conducts all manufacturing activities at its integrated manufacturing facility, comprising of two industrial plots situated in the RIICO Industrial Area, Neemrana, Rajasthan.
Holani Consultants serves as the sole book-running lead manager for the company’s public offering.
KRN Heat Exchanger Share Price Live Updates: Here’s what Prashanth Tapse, Senior Vice President of Research at Mehta Equities says about listing
“Considering bumper subscription demand and market sentiments, there is a high possibility and an indication of a blockbuster market debut, which can double allotted investors’ money on day one of listings. For allotted investors, we recommend book profits as we believe post listing the valuations can over stretch on a higher side discounting all the medium term business growth visibility,” said Prashanth Tapse.
KRN Heat Exchanger Share Price Live Updates: Strong fundamentals, market demand suggest a promising outlook for the listing, says expert
According to Shivani Nyati, Head of Wealth, Swastika Investmart Ltd, the IPO’s valuation appears fair, the absence of listed peers makes a direct comparison challenging. However, KRN Heat Exchangers’ strong fundamentals and market demand suggest a promising outlook for the listing.
The IPO’s impressive subscription of 213.41 times and a substantial grey market premium (GMP) of ₹250 (113.64%) highlight strong investor interest.
KRN Heat Exchanger Share Price Live Updates: Here’s what KRN Heat Exchanger IPO GMP today hints ahead of listing
KRN Heat Exchanger IPO grey market price is +248. This indicates KRN Heat Exchanger share price were trading at a premium of ₹248 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of KRN Heat Exchanger share price was indicated at ₹468 apiece, which is 112.73% higher than the IPO price of ₹220.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
