KRN Heat Exchanger and Refrigeration Ltd’s IPO attracted significant interest, achieving a subscription rate of 213.26 times by its closing date on September 27. Investors placed bids for 234 crore shares, far exceeding the 1.09 crore shares available. Additionally, the company raised Rs 100 crore from anchor investors before the public offering.
IPO Subscription: The IPO received bids for 234 crore shares against 1.09 crore shares on offer.
- Anchor Investors: The company raised Rs 100 crore from anchor investors before the IPO.
- IPO Size: The initial share sale was valued at Rs 342 crore.
- Price Range: The shares were offered in a price range of Rs 209-220 per share.
- Fund Allocation: Rs 242.5 crore will be used to set up a new manufacturing facility in Rajasthan, and the remaining funds will be used for general corporate purposes.
The Rs 342 crore IPO was offered within a price band of Rs 209-220 per share. A major portion of the proceeds—Rs 242.5 crore—will be used to establish a new manufacturing facility in Neemrana, Rajasthan, via its subsidiary KRN HVAC Products.
