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Business News/ Markets / Ipo/  KRN Heat Exchanger Share Price Updates: Stock ends at ₹473.99 apiece on NSE, 115.45% premium to IPO price
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KRN Heat Exchanger Share Price Updates: Stock ends at ₹473.99 apiece on NSE, 115.45% premium to IPO price

5 min read . Updated: 03 Oct 2024, 04:14 PM IST
Dhanya Nagasundaram

KRN Heat Exchanger Share Price Updates:  KRN Heat Exchanger opened at ₹480 per share on NSE, marking a 118.18% increase from the issue price of ₹220. Meanwhile, on BSE, the stock opened at ₹470 per share today, showing a 113.64% rise from the issue price.

KRN Heat Exchanger Share Price Updates: KRN Heat Exchanger Share Price lists on the bourses today. (https://krnheatexchanger.com/)Premium
KRN Heat Exchanger Share Price Updates: KRN Heat Exchanger Share Price lists on the bourses today. (https://krnheatexchanger.com/)

KRN Heat Exchanger Share Price Updates: KRN Heat Exchanger share price made a blockbuster debut on the bourses today, Thursday, October 3. The stock ended listing day at ₹473.99 on NSE, a 115.45% premium to the IPO price of ₹220, and at ₹478.45 on BSE, a 117.48% premium. In a quiet subdued market, KRN Heat Exchanger share price could sustain itself above its IPO price witnessing slight fluctuations during the session.

On NSE, KRN Heat Exchanger share price opened at ₹480 per share, 118.18% higher than the issue price of ₹220. On BSE, KRN Heat Exchanger share price today opened at ₹470 apiece, up 113.64% than the issue price.

On Wednesday, September 25, the public subscription for KRN Heat Exchanger and Refrigeration Ltd, based in Rajasthan, began and concluded on Friday, September 27. KRN Heat Exchanger raised ₹100 crore from anchor investors.

KRN Heat Exchanger IPO includes a fresh issue of 1,55,43,000 equity shares valued at ₹342 crore at the upper end of the price band.

On Friday, the IPO bidding concluded with an overwhelming subscription of 214.42 times, as bids were placed for 2,35,71,39,005 shares against the 1,09,93,000 shares available.

The non-institutional investors category experienced an exceptional subscription of 431.63 times, while the retail individual investors (RIIs) portion was subscribed 98.29 times. The QIB category saw a subscription of 253.04 times.

The initial public offer of KRN Heat Exchanger and Refrigeration Ltd was fully subscribed within minutes of opening for share sale on Wednesday and finally ended with 23.73 times subscription.

The company supplies fin and tube-type heat exchangers to the heat ventilation air conditioning and refrigeration industry.

The company conducts all manufacturing activities at its integrated manufacturing facility, comprising of two industrial plots situated in the RIICO Industrial Area, Neemrana, Rajasthan.

Holani Consultants serves as the sole book-running lead manager for the company's public offering.

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