KRN Heat Exchanger IPO Highlights: KRN Heat Exchanger is set to launch an initial public offering (IPO) worth Rs 341.95 crores. This issue is entirely a fresh offering of 1.55 crore shares. Bidding for the KRN Heat Exchanger IPO began on September 25, 2024, and concluded on September 27, 2024. Allotments are expected to be finalised on Monday, September 30, 2024. The shares are scheduled to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Thursday, October 3, 2024. The price band for the IPO is set between Rs 209 and Rs 220 per share. Holani Consultants Private Limited is the book-running lead manager for the KRN Heat Exchanger IPO, and Bigshare Services Pvt Ltd serves as the registrar for the offering.
KRN Heat Exchanger IPO 2024 Live Updates: Allotment, Subscription status, GMP, Listing Time and Date Details here.
There company saw an increase in the net profit in the last three years. In FY22, it reported a profit after tax of Rs 10.6 crore and in the very next year, it jumped to Rs 32.3 crore in FY23. It reported Rs 39.1 crore of net profit in FY24. Now, this can be attributed to the increase in margins of the company, rising from 6.8% in FY22 to 13.1% in FY23 and then falling again a bit next year. The impact of a fall in margin growth in FY24 can be seen in the PAT. However, there’s a problem with the company, its ROE (return on equity) fell substantially in FY24, sinking below that of FY22.
Market observers report that the grey market premium (GMP) for the KRN Heat Exchanger IPO has reached Rs 253 today, reflecting an increase of Rs 13 from Thursday’s GMP of Rs 240. This strong premium indicates expectations of multibagger returns for fortunate allottees of this ongoing mainboard IPO. Analysts attribute the rise in grey market sentiment to two key factors: the robust subscription status of the KRN Heat Exchanger IPO and the bullish trend on Dalal Street. They suggest that the mood in the grey market could further improve if the positive market sentiment continues leading up to the final subscription date.
KRN Heat Exchanger received bids worth Rs 18,510 crore from investors. The retail bids were worth Rs 8,047.94 crore while the NII bids were worth Rs 10,151.16 crore.
The IPO was subscribed 76.54 times as of 1100 IST, September 27. The retail segment of the IPO was booked 66.53 times more than the offered shares. In the IPO of KRN Heat Exchanger, NIIs showed an overwhelming response, subscribing to the issue 193.29 times.