Mon Sep 30 20:22:41 UTC 2024: ## KRN Heat Exchanger IPO to list on October 3rd: Over 200 times subscription

**Mumbai, September 30, 2024:** KRN Heat Exchanger and Refrigeration Company’s Initial Public Offering (IPO), which opened for subscription last week from September 25th to 27th, has received an overwhelming response from investors. The IPO was oversubscribed by 214.42 times, with investors bidding for 235.71 crore shares against the offered 1.09 crore shares.

The allotment of shares is scheduled for Monday, September 30th. The refund and credit for eligible shares will be processed on October 1st, followed by the listing on the Bombay Stock Exchange on October 3rd.

The strong demand for the IPO, particularly from non-institutional investors (NII) who subscribed 431.63 times, suggests high investor confidence in the company. KRN Heat Exchanger’s IPO size is ₹341.5 crore and the price band was set at ₹209-220 per share.

**Grey Market Premium:** The grey market is abuzz with excitement for KRN Heat Exchanger, with the company’s unlisted stock trading at a premium of ₹275. Based on the upper price band of ₹220, the company’s shares are expected to list at ₹495, potentially delivering over 125% profit to investors.

**Company Profile:** KRN Heat Exchanger is a Rajasthan-based company engaged in the manufacture of heat exchangers and refrigeration equipment. The IPO involves a fresh issue of 1,55,43,000 equity shares.

**Disclaimer:** This article is for informational purposes only and does not constitute financial advice. Investment in the stock market involves risk, and investors are advised to consult with a financial expert before making any investment decisions.

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