KRN Heat Exchanger and Refrigeration delivered a spectacular debut on the stock market, listing at a 118.18% premium on NSE, pricing its shares at ₹480, well above the issue price of ₹220. On BSE, it was listed at ₹470, also an impressive 113.64% premium. The company’s IPO, priced between ₹209-220 per share, witnessed massive demand, signaling strong investor confidence.
Key Highlights:
- IPO Stats: Open from September 25-27, KRN Heat Exchanger’s IPO was a fresh issue of 1.55 crore shares, raising ₹341.95 crore.
- Overwhelming Demand: The issue saw stellar 214.42x subscription, with non-institutional investors (431.63x) and qualified institutional buyers (253.04x) driving much of the excitement.
- GMP Signals: Ahead of listing, the grey market premium (GMP) suggested a rise of ₹240 per share, signaling a strong debut, which the stock delivered by exceeding expectations.
Company Outlook:
KRN Heat Exchanger, a Rajasthan-based company, specializes in manufacturing fin and tube-type heat exchangers used across the HVAC and refrigeration industry. Analysts like Shivani Nyati of Swastika Investmart highlighted the company’s strong fundamentals, stating the fair valuation and market demand offer promising growth prospects.
Investors who got in on the IPO were advised to book profits on listing day due to the massive gains, as mentioned by Sagar Shetty from StoxBox.
With its unprecedented demand and successful listing, KRN Heat Exchanger is off to a blazing start, catching the eye of investors across the market.