KRN Heat and Refrigeration Exchanger shares: Shares of KRN Heat Exchanger and Refrigeration made a strong debut on the stock market on Thursday, October 3. The shares opened trading at Rs 470 on the BSE, up 114 per cent or Rs 250 from its initial public offering ( IPO ) price of 220 rupees. On the National Stock Exchange, shares of KRN Heat Exchanger and Refrigeration opened trading at Rs 480, up 119 per cent, stock exchange data showed.
KRN Heat Exchanger and Refrigeration shares were in high demand during the three-day stock sale that ended on September 27 when IPO It was subscribed a whopping 214 times. The IPO received 2,35,71,39,005 bids for 1,09,93,000 shares for sale. The IPO was in high demand among non-institutional investors as the portion reserved for them was registered 431.63 times. Shares reserved for qualified institutional buyers (QIBs) were subscribed 253 times and the pie reserved for retail investors was registered 98.29 times, according to data from the National Stock Exchange.
KRN Heat Exchanger and Refrigeration raised Rs 342 million from IPO which was purely new issue of shares. The company sold shares in a price range of Rs 209 to Rs 220 per share and a retail investor was allowed to bid for a minimum of one lot of 65 shares up to a maximum of 13 lots. One lot of KRN Heat Exchanger and Refrigeration shares were priced at Rs 14,300 at the upper end of the price band.
KRN Heat Exchanger and Refrigeration Ltd is a leading manufacturer of fin and tube heat exchangers. The company manufactures copper tube and copper and aluminum fin heat exchangers, water coils, condensing coils and evaporator coils. It manufactures heat exchanger tubes of different shapes and sizes from 5 mm in diameter to 7 mm, 9.52 mm, 12.7 mm and 15.88 mm. All offered products are used in domestic, commercial and industrial heating, ventilation, air conditioning and refrigeration (HVAC&R) industry.
KRN Heat Exchanger and Refrigeration shares are up as much as 126 percent since IPO The price hit an intraday high of Rs 497 on the National Stock Exchange.
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