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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the KRN Heat Exchanger and Refrigeration Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹220
Per ShareLot Size
65 Shares
Minimum Investment
₹14,300
Issue Size
₹341.95 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
94.39%
Issue Type
Book Building
ISIN
INE0Q3J01015
KRN Heat Exchanger and Refrigeration Limited manufactures fin and tube type Heat Exchangers for the Heat Ventilation Air Conditioning and Refrigeration Industry ("HVAC&R"). Heat Exchangers manufactured by us are made of non-ferrous metals primarily Copper and Aluminium. Its product range includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils and sheet metal parts. The Company manufactures heat exchangers of various shapes and sizes as per the requirement of the customers and / or demand in the market. The sizes of heat exchanger tubes diameter manufactured by the company ranges from 5MM to 15.88 MM.
Heat exchangers transfer thermal energy from one fluid to another, while ensuring that the fluids do not mix. This process is facilitated by conduction, enabling the heat exchanger to heat or cool a substance. Heat exchangers provide a means of regulating temperature, enhancing efficiency, averting overheating, and mitigating other potential hazards, resulting in an improvement in safety standards. Being an efficient source of energy saving, heat exchangers find applications across a broad range of domestic and industrial applications such as steam power plants, chemical processing plants, food processing, HVAC systems, mining, pulp and paper, metallurgy etc. The global heat exchanger market is valued at USD 16.8 billion in 2023, with the industry experiencing a robust CAGR of 6.4% from 2019 to 2023 whereas the Indian market for heat exchanger reached USD 689 million per annum in 2023 with the annual industry turnover increasing by a CAGR of 10% between 2019 and 2023. This growth is primarily driven by the increasing global demand for sustainable, lowenergy consumption solutions that are also cost-effective.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public issue of up to 1,55,43,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of the company for cash at a price of Rs.220 per equity share (including a share premium of Rs.210 per equity share), aggregating upto Rs. 341.95 crores ("The Issue"). The issue will constitute 25% of the post issue paid up equity share capital of the company. The company, in consultation with the brlm, has undertaken a pre-ipo placement of 4,77,000 equity shares for cash consideration aggregating to Rs. 9.54 crores. The issue size as disclosed in the draft red herring prospectus, up to 1,60,00,000 equity shares has been reduced by 4,77,000 equity shares pursuant to the pre-ipo placement and accordingly the issue is of up to 1,55,43,000 equity shares and the minimum issue size shall constitute at least 10% of the post-issue paid-up equity share capital of the company, in compliance with rule 19(2)(b) of the securities contracts (regulation) rules, 1957, as amended ("scrr"). The Offer Price is Rs. 220 per equity share of face value of Rs. 10 each. The Offer Price is 22 times of the face value of the equity shares. Bid cane be made for a minimum of 65 equity shares and in multiples of 65 equity shares thereafter.
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
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*Real-time data subject to exchange updates
KRN Heat Exchanger and Refrigeration Limited was incorporated as "KRN HEAT EXCHANGER AND REFRIGERATION PRIVATE LIMITED, a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated August 25, 2017 issued by Central Registration Centre, Manesar. Thereafter, the Company was converted from a private limited company to a public limited company, pursuant to a resolution passed in the extraordinary general meeting of its Shareholders held on March 17, 2023, and consequently, the name of the Company was changed to "KRN Heat Exchanger and Refrigeration Limited" by deletion of the word `Private'. A fresh certificate of incorporation consequent upon conversion from private company to public company dated April 03, 2023, was issued by the Registrar of Companies, Jaipur, Rajasthan to the Company bearing Corporate Identification Number "U29309RJ2017PLC058905".
Wholesaler and Retailer
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.