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.
KRN Heat Exchanger IPO – Details
| IPO Opening Date | 25 September 2024 |
| IPO Closing Date | 27 September 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 1,55,23,000 Shares Worth ₹341.51 Crore Fresh Issue: 1,55,23,000 Shares Worth ₹341.51 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹209 – ₹220 per share |
| Market Lot | 65 Shares |
| Min Order | 65 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
KRN Heat Exchanger IPO – Date Schedule
| IPO Open Date | 25 September 2024 |
| IPO Close Date | 27 September 2024 |
| Basis of Allotment | 30 September 2024 |
| Initiation of Refund | 01 October 2024 |
| Credit of Shares to Demat Account | 01 October 2024 |
| IPO Listing Date | 03 October 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2024 |
KRN Heat Exchanger IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹14,300 |
| Retail (Max) | 13 | 845 | ₹1,85,900 |
| S-HNI (Min) | 14 | 910 | ₹2,00,200 |
| S-HNI (Max) | 69 | 4,485 | ₹9,86,700 |
| B-HNI (Min) | 70 | 4,550 | ₹10,01,000 |
Competitive Strengths
- Promoters exhibit strong leadership and are supported by highly experienced senior management.
- Long‐standing business relationships with leading clientele.
- Effective quality control checks.
- Consistent financial performance.
- Established Manufacturing facility.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 (Standalone) | 158.22 | 143.25 | 10.59 | 22.12 |
| 31 March 2023 (Standalone) | 249.88 | 204.38 | 32.31 | 36.64 |
| 31 March 2024 (Consolidated) | 313.54 | 257.80 | 39.06 | 59.69 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 40.86% |
| ROCE | 31.21% |
| Debt/Equity | 0.45 |
| RoNW | 29.68% |
| PAT Margin (%) | 12.67 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 8.88 | 6.56 |
| P/E (x) | 24.78 | 33.52 |
Object Of The Issue
- Invest in the wholly owned subsidiary, KRN HVAC Products Pvt Ltd for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan, and
- General corporate purposes.
KRN Heat Exchanger IPO Peer Comparison
- There are no listed companies in India that engage in a business-like KRN Heat Exchanger Limited. Accordingly, it is not possible to provide a comparison of key performance indicators of the industry with KRN Heat Exchanger Limited.
KRN Heat Exchanger IPO Promoter Holding
| Pre Issue Share Holding | 94.39% |
| Post Issue Share Holding | 70.81% |
KRN Heat Exchanger IPO Prospectus
Company Contact Information
| KRN Heat Exchanger and Refrigeration Limited Plot No. F – 46, 47, 48, 49 EPIP, RIICO Industrial Area, Neemrana, Alwar Phone: +91 – 9257025440 Email: cs@krnheatexchanger.com Website: http://www.krnheatexchanger.com/ |
KRN Heat Exchanger IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/ipo_status.html |
KRN Heat Exchanger IPO Lead Manager(s)
| 1. Holani Consultants Private Limited |
KRN Heat Exchanger IPO FAQs
| What is KRN Heat Exchanger IPO? KRN Heat Exchanger IPO is a main-board IPO. The issue is priced at ₹209 to ₹220 per equity share. The IPO is to be listed on BSE & NSE. |
| When KRN Heat Exchanger IPO will open? The IPO is to open on 25 September 2024 for QIB, NII, and Retail Investors. |
| What is KRN Heat Exchanger IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the KRN Heat Exchanger IPO? You can apply KRN Heat Exchanger IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the KRN Heat Exchanger IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “KRN Heat Exchanger IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the KRN Heat Exchanger IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “KRN Heat Exchanger IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the KRN Heat Exchanger IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “KRN Heat Exchanger IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the KRN Heat Exchanger IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “KRN Heat Exchanger IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is KRN Heat Exchanger IPO Size? KRN Heat Exchanger IPO size is ₹341.51 Crore. |
| What is KRN Heat Exchanger IPO Price Band? KRN Heat Exchanger IPO Price Band is ₹209 to ₹220. |
| What is KRN Heat Exchanger IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 65 Shares with ₹14,300 amount while the maximum bid is 845 Shares with ₹1,85,900. |
| What is the KRN Heat Exchanger IPO Allotment Date? KRN Heat Exchanger IPO allotment date is 30 September 2024. |
| What is the KRN Heat Exchanger IPO Listing Date? KRN Heat Exchanger IPO listing date is 03 October 2024. The IPO is to be listed on BSE and NSE. |
