The subscription period for the KRN Heat Exchanger and Refrigeration IPO (initial public offer) is set to begin on Wednesday, September 25, and end on September 27.

IPO size and price band

A total of 1.55 crore shares are being issued in the KRN Heat Exchanger IPO. With this public offering, the business hopes to raise Rs 341 crore. A lot size of 65 shares is available in the IPO price range of Rs 209–Rs 220 per share.

IPO structure and quota

Only eligible institutional buyers will receive 50 per cent of the net offer, according to KRN Heat Exchanger. Up to 35 per cent of the net issue has been designated for the retail segment, and 15 per cent has been set aside for non-institutional investors (NIIs).

Timetable of subscription and listing

KRN Heat Exchanger IPO subscription window will open on September 25. The share allotment status is likely to be finalised on September 30.

Subsequent to the allotment of shares, refunds will be initiated for unsuccessful bidders on October 1, and successful bidders will receive shares of KRN Heat Exchanger in their demat accounts on the same day. KRN Heat Exchanger shares will be listed on the NSE and BSE. The tentative listing date for the IPO is October 3.

Company financials

Compared to Rs 249.89 crore in FY23, KRN Heat Exchanger's revenue increased by more than 25 per cent to Rs 313.54 crore in FY24. From Rs 32.31 crore in FY23 to Rs 39.07 crore in FY24, the company's profit-after-tax climbed by nearly 21 per cent.

Company offerings

Fin and tube-type heat exchangers are produced by KRN Heat Exchanger and Refrigeration Limited, a well-known manufacturer. The company's products are utilised in the HVAC (heating, ventilation, air conditioning, and refrigeration) sector in residential, commercial, and industrial settings.