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KRN Heat Exchanger IPO
Price Band
₹209.0–220.0
Issue Size
₹341.95 Cr
Lot Size
65 shares
Min Investment
₹14,300
GMP
+₹235.0 (106.82%)
Issue Price
₹220.0
Subject to Sauda
₹11600
Paid only if allotted
KRN Heat Exchanger IPO AI Summary
- KRN Heat Exchanger IPO is listed on BSE, NSE in the Other Industrial Products sector.
- Price band: ₹209.0–₹220.0 per share, lot size 65 shares (min. investment ₹14,300).
- Subscription window: 25 Sep–27 Sep 2024, listing on 03 Oct 2024.
- Current GMP is +₹235.0 (106.82%), an estimated listing price of ₹455 — unofficial and can change daily.
KRN Heat Exchanger and Refrigeration Ltd is set to launch its IPO with a price band of ₹209.0 to ₹220.0, aiming to raise ₹341.95 Cr. The company has a strong customer base and exports to multiple countries, with plans for expansion through its subsidiary.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
KRN Heat Exchanger IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 27 Sep 2024 — not a current signal.
5 of 5 reviewers say Positive
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
KRN Heat Exchanger IPO Grey Market Premium (GMP) Today
GMP
+₹235.0
GMP %
+106.82%
Est. Listing
₹455.0
Updated: 25 Jul 2026 14:03
About the Company
KRN Heat Exchanger and Refrigeration Ltd is a leading manufacturer of fin and tube-type heat exchangers. The company manufactures Copper and Aluminium fins and copper tubes heat exchangers, water coils, condenser coils, and evaporator coils. It manufactures heat exchanger tubes of different shapes and sizes from 5 mm diameter to 7 mm, 9.52 mm, 12.7 mm, and 15.88 mm. All the products offered are used in the domestic, commercial, and industrial Heating, Ventilation, air conditioning and refrigeration (HVAC&R) industry. Daikin Airconditioning India Pvt Ltd, Schnieder Electric IT Business India Pvt Ltd, Kirloskar Chillers Private Ltd, Blue Star Ltd, Climaventa Climate Technologies Pvt Ltd and Frigel Intelligent Cooling Systems India Pvt Ltd are some of the prestigious customers. The company also export products overseas to countries including UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, and more. Its manufacturing facility is situated in Neemrana, Rajasthan over an aggregated area of 7,800 sq. mt. The company uses the latest coil manufacturing machines including Hair Pin Bender, Fin Press Machine, CNC Tube Bender, and Vertical Expander.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 |
|---|---|
| Assets | 258.36 |
| Total Income | 313.54 |
| Profit After Tax | 39.07 |
| NET Worth | 131.65 |
| Total Borrowing | 59.69 |
Key Ratios
EPS
₹8.88
NAV
₹28.53
ROE
40.86%
ROCE
31.21%
RoNW
29.68%
P/E Ratio
24.78
Market Cap
₹1309.51 Cr
PAT Margin
12.67%
Debt/Equity
0.45
Promoters
Santosh Kumar Yadav, Anju Devi and Manohar Lal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Investment in our wholly owned subsidiary KRN HVAC Products Private Limited in the form of equity, for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan (“Proposed Project”); and 235.76 2 General corporate purposes 75.36
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
For the period ending 31 Mar 2024, KRN Heat Exchanger reported a total income of ₹313.54 Cr.
Profit Trend
The profit after tax for the period ending 31 Mar 2024 was ₹39.07 Cr.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before its official listing. A high GMP suggests strong demand for the shares, while a low GMP may indicate weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term investment horizon typically weigh IPOs like this against their financial goals and risk tolerance. It's important to consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies may want to avoid this IPO, as it involves uncertainties typical of new market entrants.
IPO Timeline, Explained
The IPO process includes several key dates: the issue opens on 25 September 2024 and closes on 27 September 2024. Allotment of shares will occur on 30 September 2024, with the shares expected to be listed on the stock exchange on 3 October 2024.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor could make when shares of an IPO start trading on the stock exchange. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the company's performance post-listing.
This evaluation is generated from KRN Heat Exchanger's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is KRN Heat Exchanger IPO GMP today?
KRN Heat Exchanger IPO GMP today is +₹235.0 (106.82%), indicating an estimated listing price of ₹455. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of KRN Heat Exchanger IPO?
The price band of KRN Heat Exchanger IPO is ₹209.0–₹220.0 per share.
When does KRN Heat Exchanger IPO open and close?
KRN Heat Exchanger IPO opens on 25 September 2024 and closes on 27 September 2024.
When does KRN Heat Exchanger IPO list on the stock exchange?
KRN Heat Exchanger IPO listed on 03 October 2024 at ₹455.0.
What is the lot size for KRN Heat Exchanger IPO?
The lot size for KRN Heat Exchanger IPO is 65 shares, requiring a minimum investment of ₹14,300.
What is the lot size for KRN Heat Exchanger's IPO?
The lot size for KRN Heat Exchanger's IPO is 65 shares.
What is the minimum investment required for this IPO?
The minimum investment required is ₹14,300.
What is the price band for the IPO?
The price band for the IPO is between ₹209.0 and ₹220.0.
When is the listing date for the shares?
The shares are expected to be listed on 3 October 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected price of the shares on listing day based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Sep 2024
Close
27 Sep 2024
Allotment
30 Sep 2024
Listing
03 Oct 2024
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