KRN Heat Exchanger IPO 2024 | Key Information for Investors.
The KRN Heat Exchanger IPO and Refrigeration Ltd IPO is creating a buzz in the market with a promising entry into the stock exchange. If you plan you’re to invest, this blog covers all the essential details, including timelines, financials, and lot sizes, presented in an easy to read format.
About KRN Heat Exchanger and Refrigeration Ltd:
KRN Heat Exchanger is a major player in the Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC&R) sector. The company is known for its copper and aluminum heat exchangers and serves prestigious clients like Daikin, Blue Star, and Voltas. Its products are exported to several countries, including the USA, UAE, Germany, and the UK.
KRN Heat Exchanger and Refrigeration Limited IPO Details:
| Category | Details |
|---|---|
| IPO Date | September 25, 2024 to September 27, 2024 |
| Listing Date (Tentative) | October 3, 2024 |
| Price Band | ₹209 to ₹220 per share |
| Lot Size | 65 Shares |
| Total Issue Size | ₹341.95 crore |
| Issue Type | Book Built Issue IPO |
| Listing at | BSE, NSE |
| Pre-issue Share Holding | 43,999,980 shares |
| Post-issue Share Holding | 59,542,980 shares |
| Lead Manager | Holani Consultants Private Limited |
| Registrar | Bigshare Services Pvt Ltd |
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IPO Reservation Categories:
| Category | Shares Offered | % of Total Issue |
|---|---|---|
| Anchor Investors | 45,50,000 shares | 29.27% |
| QIB (Qualified Buyers) | 31,07,455 shares | 19.99% |
| NII (Non-Institutional) | 23,87,215 shares | 15.36% |
| Retail Investors (RII) | 54,98,330 shares | 35.37% |
| Total Shares Offered | 1,55,43,000 shares | 100% |
Key Dates for Investors:
| Event | Date |
|---|---|
| IPO Open Date | September 25, 2024 |
| IPO Close Date | September 27, 2024 |
| Basis of Allotment | September 30, 2024 |
| Initiation of Refunds | October 1, 2024 |
| Credit of Shares | October 1, 2024 |
| Listing Date | October 3, 2024 |
Investment Categories and Lot Sizes:
| Investor Category | Minimum Lots | Shares | Investment (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,300 |
| Retail (Max) | 13 | 845 | ₹185,900 |
| S-HNI (Min) | 14 | 910 | ₹200,200 |
| S-HNI (Max) | 69 | 4485 | ₹986,700 |
| B-HNI (Min) | 70 | 4550 | ₹1,001,000 |
Financial Performance of KRN Heat Exchanger:
The financial performance of KRN Heat Exchanger has shown significant growth over recent fiscal years. Below are the restated financial details for the company:
| Financial Metric | FY 2023 | FY 2024 |
|---|---|---|
| Total Assets (₹ Cr) | 148.76 | 258.36 |
| Revenue (₹ Cr) | 249.89 | 313.54 |
| Profit After Tax (₹ Cr) | 32.31 | 39.07 |
| Net Worth (₹ Cr) | 59.57 | 131.65 |
| Debt (₹ Cr) | 36.64 | 59.69 |
Performance Indicators:
| Indicator | Value(FY24) |
|---|---|
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| PAT Margin | 12.67% |
| EPS (₹) | 6.56 |
| P/E Ratio (x) | 33.52 |
Anchor Investors in KRN IPO:
The IPO raised ₹100.10 crore from anchor investors on September 24, 2024.
| Anchor Investors | Lock-in Period End Date |
|---|---|
| 50% Shares | October 30, 2024 |
| Remaining Shares (50%) | December 29, 2024 |
Why Invest in KRN Heat Exchanger and Refrigeration Ltd IPO?
Industry Leadership: KRN Heat Exchanger is a recognized leader in the HVAC&R industry, offering key products used in the construction and manufacturing sectors.
Diverse Client Base: The company supplies major players such as Daikin, Blue Star, and Voltas, ensuring consistent demand.
Global Presence: KRN exports to countries such as Germany, the USA, the UAE, and more, positioning itself as a global player.
Strong Financial Growth: The company is financially sound with a PAT Margin of 12.67% and a Return on Equity (ROE) of 40.86%.
How to Apply for KRN Heat Exchanger IPO?
You can apply for the KRN Heat Exchanger & Refrigeration Ltd. IPO through your stockbroker’s platform, such as Zerodha, or Upstox, or directly from your bank if they offer IPO services. For UPI-based applications, ensure you confirm the UPI mandate before 5 PM on September 27, 2024.
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KRN Heat Exchanger IPO Review:
The KRN Heat Exchanger IPO offers an exciting opportunity for medium to long-term investors. The company is well-positioned in the growing HVAC&R market, with strong financial growth, a solid client base, and expansion plans. Investors looking to diversify their portfolios can consider subscribing to this IPO.
Final Verdict: With positive financials and a leading market position, the IPO is a good investment choice for retail investors and HNIs. However, consult your financial advisor to determine if this fits your investment strategy.
Bottom Line:
KRN Heat Exchanger IPO is shaping into a noteworthy opportunity in the manufacturing sector. With strong financial growth, industry leadership, and a global presence, this IPO is a good fit for investors seeking to capitalize on medium to long-term gains in the HVAC&R space. Please don’t miss out on your calendar for the important dates, and make sure your application is ready before the deadline.
