The KRN Heat Exchanger and Refrigeration Limited IPO has generated significant interest among investors, leading to an impressive subscription rate. The KRN Heat Exchanger IPO Allotment status/results are expected to be finalized today, September 30, 2024.
KRN Heat Exchanger IPO Overview
- IPO Amount ₹341.95 crores
- Bidding Date and Closing Date: September 25 to September 27, 2024
- Price Band ₹209-₹220 per share
- Lot Size Minimum 65 shares with minimum investment of ₹14,300 for retails.
- Subscription Rates:
- Overall: 214.42 times
- Retail Investors: 98.29 times
- Qualified Institutional Buyers (QIBs): 253.04 times
- Non-Institutional Investors (NIIs): 431.63 times
This overwhelming demand reflects strong investor confidence in KRN Heat Exchanger’s business model and market potential, especially within the HVAC&R (Heating, Ventilation, Air Conditioning, and Refrigeration) sector.
Purpose of the IPO
The funds raised through the IPO will primarily be allocated to:
- Establishing a new manufacturing facility in Neemrana, Alwar, Rajasthan, under its wholly-owned subsidiary, KRN HVAC Products Pvt Ltd.
- General corporate purposes.
How to Check KRN Heat Exchanger IPO Allotment Status
Investors can check their IPO allotment status via several platforms:
Check Allotment Status on Registrar’s Website:
The registrar manages allotment of shares, who is responsible for overseeing the allocation of shares. Registrars such as Link Intime India or KFin Technologies typically handle this process. Here’s how you can check through the registrar’s website:
- Visit the Registrar’s Website: Go to the official website of the registrar managing KRN Heat Exchanger’s IPO.
Direct Link to Check KRN Heat Exchanger IPO Allotment Status
- Select IPO Allotment: Click on the link that says “IPO Allotment Status.” Now just click on it.
- Choose the KRN Heat Exchanger IPO: From the dropdown menu, select “KRN Heat Exchanger IPO.”
- Enter Details: Enter any of the following details
- PAN Permanent Account Number
- Application Number
- DP Client ID for those applicants who have applied from a broker.
- Submit: Now, click on submit button after you enter all the details at your end.
- Allotment Status: After submitting the details, the website will display your allotment status.
Check Allotment Status Through National Stock Exchange (NSE)/Bombay Stock Exchange (BSE) website:
Another method to check the KRN Heat Exchanger IPO allotment status is via stock exchanges like BSE and NSE. Here’s how you can do it:
- Visit the BSE/NSE Website: Go to the official IPO allotment page of the stock exchange.
- IPO Name: Choose “KRN Heat Exchanger IPO” from the dropdown list.
- Input Required Information: Enter the required details such as your PAN number or application ID.
- Check Allotment: After submitting the details, the website will display your allotment status.
Check Allotment Status Through Bigshare Services:
- Navigate to the Bigshare Services IPO Status page.
- Select “KRN Heat Exchanger and Refrigeration” from the dropdown menu.
- Enter your details based on application number, beneficiary ID, or PAN ID to KRN Heat Exchanger IPO Allotment Status.
Direct Link to Check KRN Heat Exchanger IPO Allotment Status
Expected Timeline
- Allotment Finalization: September 30, 2024
- Refund Initiation: October 1, 2024
- Listing Date: October 3, 2024
Market Performance and Grey Market Premium (GMP)
As of September 30, shares of KRN Heat Exchanger are trading at a grey market premium of approximately ₹270, indicating a potential listing gain of around 125% based on the upper price band of ₹220. This strong GMP suggests robust investor sentiment ahead of the listing.
Conclusion
The KRN Heat Exchanger IPO has not only attracted significant investor interest but also promises substantial growth potential for the company as it expands its manufacturing capabilities. With the allotment results expected today and shares set to be listed soon after, investors are keenly awaiting updates on their applications.
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