2024-09-25 05:21:55
Mumbai: This week an amazing IPO is hitting the primary market. This IPO is of KRN Heat Exchanger and Refrigeration Ltd. This IPO is hitting the market tomorrow i.e. Wednesday, 25 September. But it is already making a splash in the grey market. Its premium in the grey market is more than 109 percent at around 10 am on Tuesday.
GMP is on the rise
The demand for KRN Heat Exchanger and Refrigeration Limited IPO in the grey market is continuously increasing. A day earlier its GMP was around 90 percent. Today it increased to 109.09 percent. If its upper price band i.e. Rs 220 is considered its issue price, then today its price is being quoted at Rs 460 with a premium of Rs 240. It is worth noting that the price band of KRN Heat Exchanger IPO has been fixed at Rs 209 to Rs 220 per share.
Till when can you bid?
Investors will be able to bid in this IPO from tomorrow i.e. Wednesday. Bids can be placed in it till 27 September. It is worth mentioning that the company is bringing the IPO for its expansion plan. In this IPO, there will be a fresh sale of 1,55,23,000 shares. If the entire amount is received at the upper level of its price band, then the company will get Rs 341.50 crore.
The company’s work is unique
This company has many units in Neemrana, Rajasthan. In these, the company manufactures heat exchangers and refrigeration 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. Many domestic and foreign companies are its customers. These include 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 its products to the United Arab Emirates (UAE), America (USA), Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK (UK) and some other countries.