The IPO market is filled with chaos every day. The IPO of KRN Heat Exchanger made history. A total of 211 subscriptions were issued for this IPO. But this IPO set a record in the QIB category, which has been subscribed a total of 253.04 times. Earlier this month, a total of 222 backsales were completed under the QIB category of Bajaj Housing Finance IPO. In the same year, Premier Energies’ IPO received 212 subscriptions in the QIB category.
In fact, investors are expecting huge returns from KRN Heat Exchanger & Refrigeration Ltd’s IPO. With this in mind, the IPO received a strong response. This IPO was subscribed 211 times in total, and the NII category was subscribed 428.01 times in total. The retail category was filled 93.72 times.
Gray market creates uproar
KRN Heat Exchanger shares are making waves in the unlisted markets. Gray market premiums (GMPs) are increasing. The company’s shares are trading at a premium of about 124.55%, or Rs 274 per share, in the gray market. From this perspective, investors’ funds are likely to double after listing. The upper limit price is Rs 220 per share.
Let me tell you that KRN Heat Exchanger’s IPO received an enthusiastic response from investors as soon as it was launched. In particular, the protagonist of this issue is a farmer’s son. He relies on his own efforts and enthusiasm to move from a small town to great heights. Santosh Kumar Yadav, the son of a farmer from Rajasthan, is about to list his company on the stock market.
I didn’t want to work, so I started a company.
First, let’s talk about Santosh Kumar Yadav, the owner of KRN Heat Exchanger Company. He is 44 years old and comes from Tijara, a small town in Rajasthan. His father was a farmer, but through his efforts his son had grown from a trainee operator at Lloyds Electrical Engineering to the founder of KRN Heat Exchangers and Refrigeration Ltd.
In 2013, after leaving his job at Lloyd Electric and Engineering, he set up Micro Coils and Refrigeration in Bhiwadi with investors. In 2017, he sold his shares in the company and founded KRN Heat Exchangers and Refrigeration.
Fully booked within half an hour of opening
If we look at the details of KRN Heat Exchanger IPO, the issue is open from September 25 to September 27, the IPO size is Rs 341.95 crore, under which Santosh Kumar Yadav’s company will issue a total 15,543,000 shares. All these will be new shares with a face value of Rs 10. This will be a book issue and its listing will be on BSE-NSE.
The company has settled on this price range
For the KRN IPO, the company has fixed the price range at Rs 209 to Rs 220. Apart from this, the lot size for this IPO is 65 shares. That means retail investors will have to bid for at least that many shares. If we look at the upper end of the price range, the minimum investment an investor has to make is Rs 14,300. A maximum of 13 plots can be bid for at a cost of Rs 185,900. It will open to major investors on September 24, the day before it opens to general investors.
The KRN Heat Exchanger IPO opened to major investors on Tuesday before opening it to general investors and received a strong response. The company has issued 4550,000 equity shares, raising Rs 100.10 crore.
Do you know when it will be released?
Regarding the listing of KRN shares on the stock market, the stock allotment will be completed on September 30, and the stock credit process in investors’ withdrawal accounts will begin on October 1. The company’s possible stock market listing date has been set as October 3.
(Note – Always take advice from market experts before making any kind of investment in the stock market or IPO market.)
