Mon Sep 30 23:05:40 UTC 2024: ## KRN Heat Exchanger IPO: Grey Market Buzz Surrounds Listing

**Mumbai, India:** The Initial Public Offering (IPO) of KRN Heat Exchanger is generating significant buzz in the grey market, with shares trading at a premium of over 125% of the issue price. The allotment of shares is scheduled for September 30th, with listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 3rd.

**Strong Demand:** The IPO, which closed on September 27th, was oversubscribed by a staggering 214.42 times. The Non-Institutional Investor (NII) category witnessed the highest demand, with a subscription of 431.63 times. The Foreign Institutional Investor (FII) category saw a subscription of 253.05 times, while the retail category witnessed a subscription of 98.29 times.

**Grey Market Premium:** The grey market premium (GMP) for KRN Heat Exchanger currently stands at Rs. 275, indicating a potential listing price of around Rs. 495 (Rs. 220 upper price band + Rs. 275). However, investors are advised to rely on the company’s fundamentals rather than the GMP before making any investment decisions.

**Company Profile:** KRN Heat Exchanger manufactures fin and tube type heat exchangers for the heating, ventilation, air conditioning, and refrigeration industries. The company primarily caters to Japanese giants like Daikin, and its products are manufactured using copper and aluminum.

**Checking Allotment Status:** Investors can check their allotment status on the official registrar, Bigshare Services Limited’s website (ipo.bigshareonline.com/ipo_status.html) or through the BSE website (bseindia.com/investors/appli_check.aspx).

With the IPO expected to make a strong debut, market analysts are keeping a close eye on KRN Heat Exchanger’s future performance, given its strong market position and consistent growth in the HVAC industry.

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