Tue Sep 24 20:42:30 UTC 2024: ## KRN Heat Exchanger to Raise Over ₹100 Crore From Anchor Investors Ahead of IPO

**Jaipur, India** – KRN Heat Exchanger and Refrigeration, a manufacturer of heat exchangers, has successfully raised over ₹100 crore from anchor investors ahead of its upcoming Initial Public Offering (IPO). The company allotted 45.5 lakh equity shares at ₹220 per share to 10 anchor investors on September 24, 2024.

The IPO is scheduled to open on September 25, 2024, with investors able to bid for shares within a price band of ₹209 to ₹220. The minimum lot size is 65 shares, and the IPO will close on September 27, 2024. The company aims to raise ₹341.95 crore through this IPO.

**Anchor Investor Interest:**

Holani Venture Capital Fund was the largest buyer in the anchor book, investing ₹18.87 crore for 8.58 lakh equity shares at the upper price band. Other notable investors include Mint Focused Growth Fund (₹14 crore), WhiteOak Capital Mutual Fund, Bandhan Small Cap Fund, V-Q Fastercap Fund, and Ashoka India Equity Investment Trust (all investing ₹10 crore each), and Cent Capital Fund (₹10.58 crore).

**Company Overview:**

Established in 2017, KRN Heat Exchanger specializes in manufacturing and exporting fin and tube type heat exchangers. The company produces copper and aluminum fins, copper tubes, water coils, condenser coils, evaporator coils, and heat exchanger tubes. Its products are used across domestic, commercial, and industrial sectors in heating, ventilation, air conditioning, and refrigeration applications.

The company’s IPO will see the issuance of 1.55 crore new shares, with the final allotment scheduled for September 30, 2024. The shares will be listed on the BSE and NSE on October 3, 2024. Holani Consultants Private Limited is the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd is the registrar.

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