Wed Sep 25 05:01:17 UTC 2024: ## KRN Heat Exchanger IPO Opens With Strong Interest, Manba Finance IPO Also Sets Sail

**Mumbai, India:** The Indian IPO market continues to be buzzing with activity, with two new offerings kicking off this week. KRN Heat Exchanger, a leading manufacturer of custom heat exchangers, launched its IPO on Wednesday, September 25th, with the subscription period lasting until September 27th. The company aims to raise funds for a new manufacturing facility in Neemrana, Rajasthan, and for general corporate purposes.

Initial market response to the KRN Heat Exchanger IPO has been positive. The grey market premium (GMP) is currently at Rs 239, indicating a potential listing price of Rs 459. This represents a significant 108.64% gain per share. The company’s strong financial performance, with revenue increasing 25% year-on-year to Rs 308 crore in FY24, likely contributes to the bullish sentiment.

Meanwhile, Manba Finance, a non-banking financial company specializing in two- and three-wheeler financing, also opened its IPO this week. The company’s focus on the growing two-wheeler and three-wheeler financing market, coupled with its expansion into personal, business, and used car loans, has attracted investor interest.

The Manba Finance IPO has a price band of Rs 114 to Rs 120 per share, with the listing date anticipated to be September 30th. Akriti Mehrotra, Research Analyst at StoxBox, has assigned a ‘subscribe’ rating to the IPO, citing the strong growth prospects of the NBFC sector in India.

These two IPOs highlight the continued investor appetite for promising companies in India. As the markets remain volatile, investors are looking for opportunities in sectors with strong growth potential. The strong initial response to both the KRN Heat Exchanger and Manba Finance IPOs suggests that these offerings may be attractive options for investors looking to capitalize on the Indian growth story.

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