KRN Heat Exchanger Limited IPO
KRN Heat Exchanger Limited IPO
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KRN Heat Exchanger Limited's has transitioned to a publicly listed entity following its IPO debut on 03-10-2024 at the NSE, BSE exchange. The public offering successfully raised 1,55,43,000 Shares, consisting of 1,55,23,000 Sharesin new capital.
The IPO featured a competitive price range of ₹209 to ₹220 and minimum application size of 65 shares. Market reception was evidenced through subscription activity between 25-09-2024 and 27-09-2024, reflecting investor appetite for the offering.
Allotment of shares was completed on 30-09-2024, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
KRN Heat IPO About Company
KRN Heat Exchanger and Refrigeration Limited, incorporated on August 25, 2017, specializes in the design, manufacture, and supply of heat exchangers and refrigeration systems for diverse industrial applications. Its product portfolio includes air-cooled heat exchangers, finned tubes, and pressure vessels, catering to sectors such as oil and gas, power generation, and chemical processing. Supported by a workforce of approximately 240 employees, the company maintains robust manufacturing and technical operations, delivering reliable and efficient solutions across its target industries.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
KRN Heat IPO Strength Factors
- Strong Leadership: Experienced promoters and senior management driving strategic growth.
- Established Clientele: Long-term relationships with key clients ensure business continuity.
- Consistent Financial Growth: Steady revenue and profit growth over the years.
KRN Heat IPO Risk Factors
- Revenue Growth Uncertainty: Sustaining past high growth rates may be challenging.
- Customer Dependence: Lack of long-term agreements increases financial and operational vulnerability.
- Supply Chain Risk: Heavy reliance on imported raw materials exposes the company to geopolitical and policy risks.
KRN Heat IPO Lead Manager(s)
- Holani Consultants Private Limited
KRN Heat IPO Promoter(s)
- Mr. Santosh Kumar Yadav
- Mrs. Anju Devi
- Mr. Manohar Lal
KRN Heat IPO FAQs
KRN Heat Exchanger Limited IPO subscribed 215.68 times. The public issue subscribed 100.39 times in the retail category,253.04times in QIB, and 445.31 times in the HNI (10+) category byNovember 19, 2025 11:29:17 AM (Day 19).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
KRN Heat IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
KRN Heat IPO FAQs
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The basis of allotment for KRN Heat Exchanger Limited IPO is available now.
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A category of eligible shareholders or other investors who have a reserved quota in the IPO.
If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .