Mon Sep 23 14:11:58 UTC 2024: ## From Farmer’s Son to IPO: KRN Heat Exchangers Set to Debut on Stock Market

**Bhiwadi, Rajasthan:** KRN Heat Exchangers, a leading manufacturer of HVAC components, is set to go public on September 25th, with an IPO aiming to raise up to Rs 342 crore. The company’s journey is an inspiring story of dedication and success, led by founder Santosh Kumar Yadav, a farmer’s son from Tijara, Rajasthan.

Yadav, a self-made entrepreneur, started his career as a trainee operator at Lloyd Electric and Engineering. After gaining experience, he co-founded Micro Coils and Refrigeration in 2013. Following the sale of his stake in that venture, Yadav established KRN Heat Exchangers and Refrigeration in 2017, focusing on manufacturing high-quality aluminium and copper fin tube condenser and evaporator coils.

Since its inception, KRN has witnessed impressive growth, expanding its customer base across 17 Indian states and exporting to nine countries, including the US, Canada, and Germany. The company’s consolidated revenue for FY24 reached Rs 308.28 crore, with a strong CAGR of 25.46% over the past three years.

KRN’s IPO is priced between Rs 209-220 per share. The company aims to utilize the funds raised for expansion, primarily investing Rs 242.46 crore in setting up a new manufacturing facility in Neemrana, Alwar, Rajasthan. This new facility will diversify KRN’s product offerings, allowing the company to enter new segments of the HVAC market. The remaining funds will be used for general corporate purposes.

The allotment for the IPO is scheduled for September 30th, with the listing on BSE and NSE expected on October 3rd. The company’s strong financials and its innovative approach have already garnered significant interest in the unlisted market, with shares trading at a premium of 101%.

Yadav’s unwavering dedication and the company’s strong performance have positioned KRN Heat Exchangers for a successful IPO. This debut on the stock market is not just a financial milestone but a testament to the power of hard work, innovation, and entrepreneurial spirit.

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