KRN Heat Exchanger Ltd. Soars in Phenomenal Market Debut

KRN Heat Exchanger And Refrigeration Ltd made an impressive market debut with shares surging over 117% against the issue price on its first day of trading. The Rajasthan-based company attracted significant attention from institutional investors, with its IPO being subscribed 213.26 times.

The shares of KRN Heat Exchanger And Refrigeration Ltd made an impressive debut on the stock market on Thursday, soaring over 117% against the issue price of Rs 220. The company's stock opened at Rs 470, reflecting a 113.63% rise from its initial price on the BSE.

Throughout the trading day, the stock reached a peak of Rs 513.40, marking a 133.36% increase before finishing at Rs 478.45, up by 117.47%. Similarly, on the NSE, it surged to Rs 480 in early trading, ultimately closing at Rs 473.99, up 115.45%.

Driven by enthusiastic participation from institutional investors, KRN's IPO received 213.26 times subscription for its Rs 342-crore offer. Positioned in Rajasthan, the company specializes in manufacturing heat exchangers for HVAC and refrigeration industries from its facility in Neemrana.

(With inputs from agencies.)