KRN Heat Exchanger IPO Last Day: The book-built issue worth Rs 342 crore is to close on September 27. The IPO was open to investors on September 25. The company raised proceeds by selling 1.55 crore fresh shares. The listing on NSE and BSE of the issue is likely to be on October 03.
KRN Heat Exchanger IPO Allotment Date
According to the draft papers filed with the markets’ watchdog, the company’s registrar will likely finalise the allotment of shares on September 30. Investors can check the allotment status on the website of the registrar, Bigshare Services India. While the refund initiation and credit of shares in the Demat accounts will take place October 01 onwards.
KRN Heat Exchanger IPO GMP
The company has made a strong place in the grey market, attracting a premium of 125%. This high premium in the black market indicates a high demand for the stock across the equity markets. The IPO is fetching the highest GMP among peers. Investors keep an eye on the GMP to track potential listing day gains.
KRN Heat Exchanger IPO Subscription Details
The IPO was subscribed 128.09 times as of September 27. It received bids worth almost Rs 31,000 crore. The retail segment was booked more than 55 times as of September 27, getting Rs 9,751.93 crore from retailers. The non-institutional investors’ bidding came in at Rs 17,215.82 crore, subscribing to the issue 328 times.
KRN Heat Exchanger IPO Risks
The company relies upon a single customer, Daikin Airconditioning India, for almost 33% of its business. This goes same with the raw material as well. The company sources almost 18% of its raw materials from a single supplier.