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KRN Heat Exchanger's ₹342 Cr IPO Opens For Subscription. Should You Invest?

KRN Heat Exchanger's ₹342 Cr IPO Opens For Subscription. Should You Invest?

Sakshi Batra
Sakshi Batra / Dinkar Pawan
  • New Delhi ,
  • Sep 25, 2024,
  • Updated Sep 25, 2024, 7:35 PM IST

 

The KRN Heat Exchanger IPO is generating significant buying interest, having fully subscribed within the first 15 minutes of its launch on September 25. The IPO, which will close on September 27, has a total issue size of ₹341.95 crores, consisting entirely of a fresh issue of 1.55 crore shares. The price band for the IPO is set between ₹209 and ₹220 per share, with a minimum lot size of 65 shares. According to the company's Red Herring Prospectus (RHP), the proceeds will be used to invest in its wholly-owned subsidiary, KRN HVAC Products Private Limited, for establishing a new manufacturing facility in Neemrana, Alwar, Rajasthan. A portion of the funds will also be allocated for general corporate purposes. Should you consider investing in this IPO or steer clear? This report will provide insights.

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