KRN Heat Exchanger IPO: Check Allotment Status, Expected 125% Listing Gains

IPO allotment on September 30

The allotment status for the KRN Heat Exchanger IPO is expected on September 30. During this process, the company will approve the bid lot sizes for shareholders. Investors can check the application status on the BSE, NSE, or Bigshare Services websites. Following the share allotment, refunds and the crediting of eligible shares will occur on October 1, with the listing set for October 3.

The ₹342 crore IPO of KRN, a leading manufacturer and exporter of aluminium and heat exchangers, was oversubscribed by an impressive 213.41 times on the final day of bidding.

Investors can verify their application status on the BSE, NSE, or through the IPO’s registrar, Bigshare Services.

After opening the link, investors will find three server options to check the allotment status. To proceed, they need to select the company name, which in this case is “KRN Heat Exchanger.” Next, they must provide details such as their PAN, Application Number, or Beneficiary ID. Finally, they should enter the captcha code and click “SEARCH” to view their application status.

To check the KRN Heat Exchanger IPO allotment status on the BSE website, go to the provided link. Select “Equity” under the “Issue Type” option, then choose “KRN Heat Exchanger” from the “Issue Name” dropdown menu. Enter your PAN card details, complete the captcha verification, and click “Search” to view your application status.

The KRN Heat Exchanger IPO opened on September 25 and closed on September 27, with a price band set between ₹209 and ₹220 per share. The IPO was oversubscribed by 213.41 times on the final day.

According to Investor Grain data, the Grey Market Premium (GMP) for the KRN Heat Exchanger IPO was ₹275 as of September 29, 2024, 6:03 AM. With a price band cap of ₹220, the estimated listing price is ₹495, reflecting a potential 125% gain per share. The shares are expected to list on the BSE and NSE on October 3.

According to a report by brokerage firm Swastika, investors may consider subscribing to the KRN Heat Exchanger IPO due to its strong fundamentals and potential for both listing gains and long-term growth. Swastika highlighted several key strengths of the company, including:

– Long-standing relationships with leading clients.
– Rigorous quality control measures.
– Consistent financial performance.
– A well-established manufacturing facility.
– Strong leadership from the promoters, supported by an experienced senior management team.

KRN Heat Exchangers specializes in producing fin and tube-type heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration (HVAC&R) industry.

The heat exchangers are primarily made from non-ferrous metals such as copper and aluminium, and the product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils, and sheet metal parts. KRN manufactures heat exchangers in various shapes and sizes based on customer needs and market demand.