KRN Heat Exchanger IPO Sees Massive 213x Subscription Amid Strong Investor Demand

The IPO of KRN Heat Exchanger and Refrigeration Ltd was heavily oversubscribed by 213.26 times, with notable interest from institutional investors. The company raised Rs 100 crore from anchor investors ahead of the public offering, which aims to fund a new manufacturing facility in Rajasthan.

The IPO of KRN Heat Exchanger and Refrigeration Ltd garnered a staggering 213.26 times subscription on the final day of bidding, thanks to robust participation from institutional investors.

According to NSE data, the IPO received bids for 2,34,43,38,230 shares against the 1,09,93,000 shares on offer. Non-Institutional Investors showed exceptional interest, subscribing 430.39 times the offer, while Qualified Institutional Buyers (QIBs) saw 253.04 times subscription. Retail Individual Investors (RIIs) also avidly participated, resulting in 96.50 times subscription.

The IPO was fully subscribed within minutes of opening and concluded with 23.73 times subscription. The company secured Rs 100 crore from anchor investors before launching the Rs 342-crore public offering, available at Rs 209-220 per share. The raised funds will primarily support the establishment of a new manufacturing facility in Neemrana, Rajasthan through its subsidiary, KRN HVAC Products, with the remaining used for general corporate purposes.

(With inputs from agencies.)