KRN Heat Exchanger IPO will finalise its share allotment on September 30. The issue was opened to investors on September 25 and closed on September 27. The issue raised Rs 342 crore through selling 1.55 crore fresh shares of the company.
Here’s how to check KRN Heat Exchanger IPO allotment status in four simple steps:
Step 1
Investors can check the allotment status on the website of the registrar of the issue, Bigshare Services India. Go to your browser and search for Bigshare Services.
Step 2
Open the website of Bigshare Services and click on the IPO allotment status box on the left side of the screen. Select any of the three servers.
Step 3
A screen will appear asking you to fill in the details – the company’s name and Application number, Beneficiary ID, or PAN number (any of the three).
Step 4
Enter the captcha and hit the search button. A result will appear of the status of whether you got the allotment of shares or not. If you do not get the allotment then a refund will be initiated by the registrar.
KRN Heat Exchanger IPO Details
The company is expected to be listed on BSE and NSE on October 03, as per the tentative schedule. The company’s IPO price band ranged between Rs 209 to Rs 220 per equity share. The minimum investment for a retail buyer was Rs 14,300, or a lot of 65 shares. There were different lot sizes for small and big NIIs ranging from Rs 2,00,200 to Rs 10,01,000.
Objectives of IPO
The net proceeds will be utilized to invest in the wholly owned subsidiary, KRN HVAC Products for setting up a new manufacturing facility at Neemrana, Rajasthan. Some of the raised funs will be used for other general corporate purposes of the company.
About KRN Heat Exchanger
KRN Heat Exchanger is a manufacturer and exporter of aluminium, copper fins and tubes, heat exchangers, water coils, condenser, and evaporator coils. All the products offered used in the domestic, commercial, and industrial heating, ventilation, air conditioning and refrigeration (HVAC&R) industry. The company manufactures heat exchangers of various shapes and sizes as per the requirements of the customers demand in the market.
BRLM and Registrar
Holani Consultants was the sole book runner of the issue and Bigshare Services was the registrar.