Wed Sep 25 07:53:51 UTC 2024: ## KRN Heat Exchanger IPO Opens Today, GMP at 108%

**New Delhi:** KRN Heat Exchanger, a Rajasthan-based company, has opened its Initial Public Offering (IPO) today, September 25th, 2024. Investors can bid for the shares until September 27th.

The IPO is generating significant interest in the market, with the company’s shares trading at a premium of over 100% in the grey market. The grey market premium (GMP) currently stands at 108%, indicating a trading price of Rs. 239 compared to the upper price band of Rs. 220.

The IPO size is Rs. 341.95 crore, with the company issuing 1.55 crore shares. The price band for the IPO has been fixed between Rs. 209 and Rs. 220.

KRN Heat Exchanger plans to raise Rs. 341.95 crore through the IPO by issuing 15,543,000 new shares. The company has already raised Rs. 100.10 crore from anchor investors, with the bidding concluding on September 24th.

Following the IPO, the allotment process is expected to be finalized on September 30th, with shares credited to demat accounts on October 1st. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 3rd.

KRN Heat Exchanger specializes in the manufacturing of fin and tube type heat exchangers used in the air conditioning and refrigeration industry.

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