Mon Sep 30 20:38:12 UTC 2024: ## KRN Heat Exchanger IPO Over-Subscribed, Listing Expected at Premium

**Mumbai, India** – KRN Heat Exchanger and Refrigeration Limited’s Initial Public Offering (IPO) has seen a strong response from investors, with the issue oversubscribed by a massive 214.42 times. The IPO was open for subscription from September 27th to 29th, and the allotment is expected to be finalized today, September 30th.

The ₹341.95 crore IPO received bids for 235.71 crore shares, while only 1.09 crore shares were offered for subscription. The Non-Institutional Investor (NII) portion was oversubscribed by 431.63 times, while the Qualified Institutional Buyer (QIB) and retail categories received 253.04 times and 98.29 times oversubscription respectively.

The grey market is currently trading the IPO at a premium of ₹270, indicating that the listing price could be around ₹490, a potential profit of 122.73% for investors. Investors can check their allotment status on the BSE, NSE, and Bigshare Services websites.

KRN Heat Exchanger and Refrigeration, based in Rajasthan, specializes in manufacturing fin and tube type heat exchangers for the HVAC&R industry. Their products, including condenser coils, evaporator units, and other components, are supplied to major clients like Daikin Air Conditioning India, Schneider Electric, Kirloskar Chillers, Blue Star, and Frigel Intelligent Cooling Systems.

The company’s success in attracting investors underscores the growing interest in the HVAC&R sector and the potential for further growth in the coming years.

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