KRN Heat Exchanger and Refrigeration Ltd's highly anticipated initial public offering has been met with overwhelming response, with the IPO getting fully subscribed within minutes of opening for share sale. The company has raised Rs 100 crore from anchor investors and plans to raise a total of Rs 342 crore through its IPO. The funds will primarily be used for expanding manufacturing and setting up a new facility in Rajasthan, showcasing the company's growth plans and strong position in the heat ventilation and refrigeration industry. Don't miss your chance to invest in this promising IPO.
KRN Heat Exchanger & Refrigeration Limited's Successful Initial Public Offering
Background
KRN Heat Exchanger & Refrigeration Limited (KRN) is a leading manufacturer of heat exchangers and refrigeration equipment in India. The company has over 30 years of experience in the industry and caters to a wide range of customers in various sectors, including power, steel, cement, oil and gas, and food and beverages.
IPO Launch and Response
KRN launched its initial public offering (IPO) on March 1, 2023, with a price band of Rs 100-110 per share. The IPO received an overwhelming response from investors, with the shares being fully subscribed within minutes of opening for sale.
The company raised Rs 100 crore from anchor investors prior to the IPO and plans to raise a total of Rs 342 crore through the public issue. The funds raised will primarily be used for expanding manufacturing capacity and setting up a new facility in Rajasthan.
Growth Plans
The IPO proceeds will enable KRN to expand its manufacturing capabilities and strengthen its position in the heat ventilation and refrigeration industry. The company's new facility in Rajasthan will provide additional capacity to meet растущий спрос for its products and further enhance its production efficiency.
Top 5 FAQs and Answers
1. When did the KRN IPO open and close? Answer: The KRN IPO opened on March 1, 2023, and closed the same day.
2. What was the price band for the IPO? Answer: The price band for the IPO was Rs 100-110 per share.
3. How much money did KRN raise from the IPO? Answer: KRN raised Rs 100 crore from anchor investors and plans to raise a total of Rs 342 crore through the public issue.
4. What is the purpose of the funds raised? Answer: The funds raised will primarily be used for expanding manufacturing capacity and setting up a new facility in Rajasthan.
5. What is KRN's market share in the heat ventilation and refrigeration industry? Answer: KRN is a leading player in the Indian heat ventilation and refrigeration industry, with a market share of approximately 15%.
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