About KRN Heat Exchanger and Refrigeration:
KRN Heat Exchanger and Refrigeration Limited manufactures fin and tube-type heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration (HVAC&R) industry. The heat exchangers produced by the company are made primarily from non-ferrous metals, including copper and aluminium. Their product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils, and sheet metal components. KRN Heat Exchanger and Refrigeration Limited produces heat exchangers in various shapes and sizes according to customer requirements or market demand. The diameters of the heat exchanger tubes they manufacture range from 5mm to 15.88mm.
About the Industry in which KRN Heat Exchanger and Refrigeration operates:
Heat exchangers transfer thermal energy between two fluids without allowing them to mix. This process is enabled by conduction, allowing the heat exchanger to either heat or cool a substance. Heat exchangers serve as a means of temperature regulation, enhancing efficiency, preventing overheating, and mitigating other potential hazards, thus improving overall safety standards. Due to their energy-saving efficiency, heat exchangers are widely used in a variety of domestic and industrial applications, including steam power plants, chemical processing, food processing, HVAC systems, mining, pulp and paper production, and metallurgy. In 2023, the global heat exchanger market was valued at USD 16.8 billion, with the industry showing a strong compound annual growth rate (CAGR) of 6.4% from 2019 to 2023. The Indian heat exchanger market reached USD 689 million per year in 2023, with an annual industry turnover growing at a CAGR of 10% over the same period. This growth is largely driven by the increasing global demand for sustainable, low-energy consumption, and cost-effective solutions.
| Important Information and Timelines of the IPO of KRN Heat Exchanger and Refrigeration: | |
|---|---|
| Open Date | 25 September 2024 |
| Close Date | 27 September 2024 |
| Total Issue Size – Number of Shares | 15543000 |
| Minimum Bid Price | 209 |
| Maximum Bid Price | 220 |
| Lot Size | 65 |
| Basis of Allotment | 30 September 2024 |
| Initiation of Refunds and Credit of Shares to Demat | 1 October 2024 |
| Listing Date | 3 October 2024 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of KRN Heat Exchanger and Refrigeration:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 65 | 14300 |
| Retail – Maximum | 13 | 845 | 185900 |
| sHNI – Minimum | 14 | 910 | 200200 |
| sHNI – Maximum | 69 | 4485 | 986700 |
| bHNI – Minimum | 70 | 4550 | 1001000 |
Objective of the IPO of KRN Heat Exchanger and Refrigeration:
-
Investment in our wholly owned subsidiary, KRN HVAC Products Private Limited in the form of equity for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan.
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General corporate purposes.
Financials of KRN Heat Exchanger and Refrigeration:
| Particulars | March 31, 2024 (Consolidated) | March 31, 2023 (Standalone) | March 31, 2022 (Standalone) |
|---|---|---|---|
| Equity Share Capital | 46,13,66,000 | 44,00,00,000 | 44,00,00,000 |
| Net Worth | 13,164.71 | 5,957.01 | 2,553.15 |
| Revenue from Operations | 30,828.31 | 24,748.08 | 15,611.46 |
| Profit / (Loss) for the Period | 3,906.86 | 3,231.35 | 1,059.04 |
| Basic Earnings per Share | 8.69 | 7.34 | 2.41 |
| Diluted Earnings per Share | 8.69 | 7.34 | 2.41 |
| Net Asset Value per Share | 28.53 | 13.54 | 5.80 |
| Total Borrowings | ₹5,969.19 | ₹3,664.43 | ₹2,212.21 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for KRN Heat Exchanger and Refrigeration. You will receive a UPI mandate after 10:00 AM on 25 September 2024.
###1. How to apply for the IPO of KRN Heat Exchanger and Refrigeration on Dhan?
You can apply for the IPO of KRN Heat Exchanger and Refrigeration from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of KRN Heat Exchanger and Refrigeration be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 1 October 2024. However, you will be able to see the shares of KRN Heat Exchanger and Refrigeration on Dhan before the market starts on the listing date which is 3 October 2024.