KRN Heat Exchanger IPO: The shares allotment of KRN Heat Exchanger IPO has been finalised on September 30, and investors can check the status of their application online via BSE, NSE and registrar Bigshare Services. The shares of KNR will be credited to eligible shareholders on October 1, while also refunds will be initiated to those investors who did not meet the eligibility criteria.

The latest GMP of KRN Heat Exchanger IPO hints at a healthy market debut on BSE and NSE ahead. KNR IPO emerged as one of the top-performing IPOs of September 2024, and overall in 2024 as well.

KNR Heat Exchanger IPO Allotment Status:

To know whether an investor has made the cut to hold KRN shares or not, they will need to review their application status.

To Check the Application Status On Bigshare Services, Click On The Link Below:

https://www.bigshareonline.com/ipo_Allotment.html

Step 1: Once you open the link, you will directed to a page which has three Server options for taking you on the IPO status page. These options are ‘Server 1′, Server 2’, and ‘Server 3’. Click on either of the server options.

Step 2: After clicking on the server, a new page will appear asking details of your application.

Step 3: Select ‘KRN Heat Exchanger And Refrigeration under the ‘Company Selection’ option. Further, enter your application number, or beneficiary ID, or PAN number under ‘Selection Type’ option.

Step 4: Lastly, add the colour-coded Captcha in the small box and click on ‘SEARCH’. After the entire process, you will be able to review your application status.

To Check the Application Status On BSE, Click On The Link Below:

https://www.bseindia.com/investors/appli_check.aspx

Step 1: Here, you will have to select the ‘Issue Type’ which would be EQUITY.

Step 2: Then select ‘KRN Heat Exchanger And Refrigeration’ in the ‘Issue Name’ option.

Step 3: The third process is to add either ‘Application No’ or ‘PAN number’.

Step 4: Finally click on SEARCH to review the status of your bidding in the IPO.

The credit or shares in demat accounts or refund of application in bank accounts will be done on October 1.

KRN Heat Exchanger IPO GMP:

As per Investor Grain data, KRN Heat Exchanger IPO’s last GMP is ₹270, last updated Sep 30th 2024 11:31 PM. With the price band of 220.00, KRN Heat Exchanger IPO’s estimated listing price is ₹490 (cap price + latest GMP).The expected percentage gain/loss per share is 122.73%.

KRN Heat Exchanger IPO Listing:

The IPO will list on October 3rd on BSE and NSE. There is a one-day gap from the credit of shares to listing is because the market will be closed on October 2nd due to Gandhi Jayanti.

Earlier, brokerage Elite Wealth stated that KRN Heat Exchanger is a promising new player in the HVAC industry, demonstrating robust financial performance. In FY24, the company experienced a 21% increase in revenue and an 18% rise in profit after tax compared to FY23. However, the company is currently facing a challenge with inventory conversion, as turnover days have increased to 112 in FY24.

KRN Heat Exchangers manufactures fin and tube-type heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration Industry (HVAC&R). Heat exchangers manufactured by KRN are made of non-ferrous metals, primarily copper and aluminium. The product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils, and sheet metal parts. KRN manufactures heat exchangers of various shapes and sizes as per the customers’ requirements and/or the demand in the market.

KRN opened its 100% book building IPO on September 25 to September 27. The IPO was purely fresh issue of Rs 341.95 crore, with price band of Rs 209 apiece to Rs 220 apiece. The IPO overall subscribed by a whopping 213.41x driven by all category investors such as QIBs, NIIs and retail investors.

Story first published: Tuesday, October 1, 2024, 6:00 [IST]