KRN Heat Exchanger IPO allotment status: Check latest GMP, subscription and other key details

KRN Heat Exchanger and Refrigeration Ltd IPO garnered 213.26 times subscription on the closing day of bidding on Friday, helped by overwhelming participation from institutional investors.

KRN Heat Exchanger and Refrigeration Ltd shares will be allotted to successful bidders on September 30 after the Rs 342-crore initial public offer (IPO) garnered 213.26 times subscription in the price range of Rs 209-220 per share. Earlier, it raised Rs 100 crore from anchor investors. The initial shares sale got bids for 234 crore shares as against 1.09 crore shares on offer.

KRN Heat Exchanger's IPO involved a fresh issue of 1,55,43,000 equity shares valued at Rs 342 crore at the upper end of the price band. Those who bid to the issue can check their allotment status on the official website of the registrar, Bigshare Services.

KRN Heat Exchanger IPO allotment date today: Direct link to check status on Bigshare Services

Step 1: Open the direct link to the registrar. (Click on this URL - https://ipo1.bigshareonline.com/IPO_Status.html).

Step 2: Select the company from the dropdown menu.

Step 3: Investors can check the allotment status by filling in details like PAN, Application number or DP client ID.

Step 4: Press the Submit button

Step 5: The allotment status will be shown in the window.

KRN Heat Exchanger IPO allotment status check on direct link of BSE

Step 1: Open the website of Bombay Stock Exchange (BSE).

Step 2: Click on 'Investors' option.

Step 3: On the 'Investor Services' dropdown, click on 'Status of Issue Application'.

Step 4: Click on 'Application Status Check'.

Step 5: Select Equity in the issue type.

Step 6: Fill in the required details including the 'Issue Name'.

Step 7: Enter PAN number and click on Search to view the status

KRN Heat Exchanger IPO GMP Today Price

According to multiple platforms that track the grey market premium activities, the KRN Heat Exchanger shares are commanding a GMP in the price range of Rs 270, which translates to a premium of nearly 123 percent over the issue price.

Funds amounting to Rs 242.5 crore will be allocated for investment in the wholly-owned subsidiary KRN HVAC Products, aimed at establishing a new manufacturing facility in Neemrana, Alwar, Rajasthan. The remaining funds will be utilised for general corporate purposes.

The Rajasthan-based company specialises in producing fin and tube-type heat exchangers for the heating, ventilation, air conditioning, and refrigeration industry.

All of the company's manufacturing operations are conducted at its consolidated facility, which spans two industrial plots located in the RIICO Industrial Area, Neemrana, Rajasthan.