Mon Sep 30 02:15:43 UTC 2024: ## KRN Heat Exchanger IPO Over-Subscribed 213 Times, Allotment Status Available on September 30th

**New Delhi, September 28:** KRN Heat Exchanger & Refrigeration’s initial public offering (IPO) witnessed a massive response, closing with a staggering 213.26 times oversubscription on Friday, September 27th. The allotment of shares is scheduled for September 30th, allowing investors to check their KRN Heat Exchanger IPO allotment status.

According to the National Stock Exchange data, the IPO received bids for 2,34,43,38,230 shares against the offered 1,09,93,000 shares. The non-institutional investors’ portion saw an overwhelming 430.39 times oversubscription, while the Qualified Institutional Buyers (QIB) category received 253.04 times oversubscription. Retail Individual Investors (RII) also showed strong interest, subscribing 96.50 times the allotted portion. Notably, the IPO was fully subscribed within minutes of opening on September 25th and eventually closed at 23.73 times oversubscription.

KRN Heat Exchanger & Refrigeration has already secured Rs. 100 crore from anchor investors. The company priced its IPO at Rs. 209-220 per share, aiming to raise Rs. 342 crore. The IPO comprises 1,55,43,000 equity shares. Approximately Rs. 242.5 crore will be used for investing in KRN HVAC Products, a wholly-owned subsidiary, to set up a new manufacturing facility in Neemrana, Alwar, Rajasthan, while the remaining funds will be allocated towards general corporate purposes.

Investors can access their allotment status through the websites of BSE (BSE), NSE (NSE), and Bigshare Services. On Bigshare Services, navigate to the allotment status section and select KRN Heat Exchanger as the company. Enter PAN, application number, or beneficiary ID details, followed by the captcha code, and click ‘Search’ for your allotment status. Alternatively, on BSE’s IPO allocation page, select ‘Equity’ under ‘Issue Type’, choose ‘KRN Heat Exchanger’ IPO in the ‘Issue Name’ dropdown, and enter your PAN number. Verify the captcha code and click ‘Search’ to view your application status.

The refund for unallotted shares and crediting of allotted shares will occur on October 1st, followed by the listing on October 3rd.

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