2024-09-22 08:29:50
Mumbai: Company of Neemrana in Rajasthan KRN Heat Exchanger & Refrigeration Ltd (KRN Heat Exchanger and Refrigeration Ltd) IPO is coming next week. It is hitting the market on 25 September. Investors can bid in it till 27 September. The price band of KRN Heat Exchanger IPO has been fixed at Rs 209 to Rs 220 per share. We are telling you the full details about this IPO issue.
What is the company’s plan
The company is bringing an IPO for its expansion plan. KRN Heat Exchanger and Refrigeration’s IPO will have a fresh sale of 1,55,23,000 shares. If the entire amount is received at the upper level of its price band, the company will get Rs 341.50 crore. Anchor investors will be able to bid in this IPO on September 24. The company will use the amount received from the issue to set up new manufacturing capacity and invest in a wholly-owned subsidiary, KRN HVAC Products, for general corporate purposes.
what the company does
KRN Heat Exchangers & Refrigeration is a manufacturer of fin and tube type heat exchangers. It manufactures copper and aluminum fins and copper tubes, heat exchangers, water coils, condenser coils and evaporator coils. All its products are used in domestic, commercial and industrial heating, ventilation, air conditioning and refrigeration industries. KRN Heat’s manufacturing facility is located in Neemrana, Rajasthan in a total area of 7,800 square meters. It uses coil manufacturing machines including hair pin bender, fin press machine, CNC tube bender and vertical expander. It manufactures heat exchanger tubes of various shapes and sizes ranging from 5 mm diameter to 7 mm, 9.52 mm, 12.7 mm and 15.88 mm.
What is the balance sheet of a company
KRN Heat Exchanger had earned a net profit of Rs 39.07 crore with a revenue of Rs 313.54 crore last year. KRN Heat Exchanger & Refrigeration Limited’s revenue grew by 25.47% and profit after tax (PAT) grew by 20.9% between the financial year ending March 31, 2024 and March 31, 2023. It is worth noting that just last month, KRN Heat Exchanger & Refrigeration has raised Rs 9.54 crore through a pre-IPO placement round.
Who are their customers
KRN Heat Exchanger’s customers include renowned names like Daikin Airconditioning India, the Indian unit of Japanese company Daikin, Schneider Electric IT Business India, Kirloskar Chillers, Blue Star, Climaventa Climate Technologies and Frigel Intelligent Cooling Systems India. The company also exports products to the United Arab Emirates (UAE), USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK and other countries. Who are the promoters of this company
The promoter of this company is Santosh Kumar Yadav. He has experience of working in this industry for more than 20 years. Along with him, his wife Anju Devi and Manohar Lal are also the promoters of the company.