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.
The initial public offering of KRN Heat Exchanger and Refrigeration has received a massive response from investors, with the issue being subscribed 4.38 times within the first hour of bidding. The Rajasthan-based company, which specializes in manufacturing fin and tube-type heat exchangers, plans to raise Rs 341.95 crore through its IPO. Experts believe that KRN's experienced legacy, plans for capacity expansion, and rising demand in the HVAC market make it a promising long-term investment opportunity, with the grey market premium hinting at a potential listing pop of 110%. However, factors such as dependence on select customers and increase in input costs remain as key risks for the company.