Mon Sep 23 17:11:57 UTC 2024: ## KRN Heat Exchanger Gears Up for ₹342 Crore IPO, Set to Open on September 25th

Ahmedabad, September 23, 2024 – KRN Heat Exchanger and Refrigeration Ltd, a leading manufacturer of HVAC&R equipment, is set to launch its Initial Public Offering (IPO) on September 25th. The IPO aims to raise ₹341.5 crore and is expected to generate significant interest from investors.

The IPO will offer 1,55,23,000 fresh shares at a price band of ₹209 to ₹220 per share. Retail investors will have access to 35% of the shares, while institutional investors will be allocated the remaining portion.

KRN Heat Exchanger specializes in manufacturing high-quality, non-ferrous heat exchangers, including evaporator and condenser coils, fluid and steam coils, and other components. Their ability to produce custom-sized solutions has solidified their position in the competitive HVAC&R market.

The company has witnessed impressive growth in recent years, with revenue increasing at a CAGR of 25.46%. In 2024, KRN Heat Exchanger recorded revenue of ₹313.54 crore and a profit of ₹39.07 crore, demonstrating its strong financial performance.

The proceeds from the IPO will be primarily utilized to establish a new manufacturing facility in Neemrana, Alwar, Rajasthan, through their subsidiary KRN HVAC Products. The remaining funds will be allocated for general corporate purposes.

KRN Heat Exchanger’s IPO offers a compelling investment opportunity for long-term investors. Their robust product portfolio, strong financial performance, and the increasing demand for efficient HVAC&R solutions make them well-positioned for future growth.

**Key IPO Details:**

* **Date:** September 25-27, 2024
* **Price Band:** ₹209 to ₹220 per share
* **IPO Size:** ₹324.43 crore – ₹341.51 crore
* **Listing:** BSE and NSE on October 3, 2024
* **Allotment Date:** September 30, 2024
* **Retail Quota:** 35%

Investors are advised to carefully study the company profile and details before making any investment decisions.

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