Tue Sep 24 10:11:45 UTC 2024: ## From a Farmer’s Son to IPO King: KRN Heat Exchanger’s Founder to List on Stock Market

**Bhiwadi, Rajasthan:** S Santosh Kumar Yadav, a farmer’s son from a small town in Rajasthan, is set to become the latest IPO success story. His company, KRN Heat Exchanger and Refrigeration, is slated to debut on the stock market on September 25th.

Yadav’s journey from a trainee operator at Lloyd Electric and Engineering to the founder of a publicly listed company is a testament to hard work and dedication. After leaving his job in 2013, he co-founded Micro Coils and Refrigeration with an investor in Bhiwadi. In 2017, he sold his stake in the company and started KRN, which specializes in manufacturing aluminum and copper fin tube condensers and coils for OEMs in the HVAC&R sector.

KRN began manufacturing in 2018 and has since expanded its reach across 17 Indian states and nine countries, including the USA, Canada, Italy, and Germany. The company’s revenue has seen consistent growth, reaching ₹308.28 crore in FY24.

**KRN IPO Details:**

* **IPO Open Date:** September 25th
* **IPO Close Date:** September 27th
* **IPO Size:** ₹341.95 crore
* **Number of Shares:** 15,543,000 (all fresh shares)
* **Face Value:** ₹10 per share
* **Price Band:** ₹209 – ₹220
* **Lot Size:** 65 shares
* **Listing:** BSE-NSE

The IPO is expected to be a book-built issue with an anchor investor portion opening on September 24th.

**Grey Market Buzz:**

Even before the IPO opens, KRN shares are already creating a stir in the grey market. The shares are reportedly trading at a 110% premium, suggesting a potential doubling of investment for early investors. However, it remains to be seen how the shares will perform on the listing date.

**Important Note:** Before investing in any IPO or the stock market, always consult with a qualified financial advisor.

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