KRN Heat Exchanger and Refrigeration Limited is gaining significant attention as its IPO enters day 3. The company, known for its heat exchanger products, has received an overwhelming response from investors, making it one of the most closely watched IPOs in 2024.
This article covers essential details about the KRN Heat Exchanger IPO, including its Grey Market Premium (GMP), subscription status, and key data points that every investor should know.
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KRN Heat Exchanger IPO Overview
KRN Heat Exchanger launched its Initial Public Offering (IPO) on September 26, 2024, and the bidding will remain open until September 30, 2024. The company aims to raise approximately ₹341.95 crore from this fresh issue, with no offer-for-sale (OFS) component involved.
The IPO price band has been fixed between ₹209 to ₹220 per share, making it an attractive offer for both retail and institutional investors. Given the company’s prominence in the refrigeration and heat exchanger market, coupled with strong investor sentiment, this IPO has quickly become a hot topic in investment circles.
KRN Heat Exchanger IPO Day 3 Subscription Status
As of 10:51 AM on day 3 of bidding, KRN Heat Exchanger’s IPO has witnessed a phenomenal subscription rate:
- Overall Subscription: 71.98 times
- Retail Portion: 64.34 times
- NII (Non-Institutional Investors) Segment: 177.46 times
- QIB (Qualified Institutional Buyers) Portion: 4.46 times
These numbers indicate strong investor interest, particularly from non-institutional investors, who have significantly oversubscribed their portion. Retail investors have also shown a robust response, highlighting the positive market sentiment surrounding this IPO.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for KRN Heat Exchanger IPO has seen a noticeable surge. As per market observers:
- KRN Heat Exchanger IPO GMP today is ₹253, a rise from ₹240 on the previous day.
The rise in GMP indicates a positive outlook, with market participants expecting multibagger returns for those lucky enough to secure an allotment.
Key Factors Driving GMP Increase
- Strong Subscription Numbers: The high subscription rates across all categories have contributed to the rise in GMP.
- Bullish Market Sentiment: The ongoing bullish trend in the stock market, particularly on Dalal Street, has further fueled positive investor sentiment.
These factors suggest that KRN Heat Exchanger is poised for a successful listing, and investors are likely to see substantial gains post-allotment.
MUST READ:
- KRN Heat Exchangers IPO Sees Strong Demand: Subscribed 30 Times on Day 2
- KRN Heat Exchanger IPO: Day 1 Subscription, GMP, and Review
- KRN Heat Exchanger IPO Opens: Subscription Guide & Analyst View
Important Dates and Details for Investors
Here’s a breakdown of crucial dates and information regarding the KRN Heat Exchanger IPO:
| Event | Date |
|---|---|
| IPO Opening Date | September 26, 2024 |
| IPO Closing Date | September 30, 2024 |
| Allotment Finalization | September 28, 2024 |
| Refunds Initiation | September 29, 2024 |
| Credit of Shares to Demat Accounts | September 30, 2024 |
| Expected Listing Date | October 3, 2024 |
Registrar: Bigshare Services Private Limited
Stock Exchanges: BSE and NSE
KRN Heat Exchanger IPO Listing Date
Following the ‘T+3’ rule, KRN Heat Exchanger is expected to be listed on October 3, 2024. It’s important to note that October 2 is a stock market holiday (Mahatma Gandhi Jayanti), so the listing will occur on the next working day.
How to Check Allotment Status
Investors can check their allotment status on the official website of Bigshare Services Private Limited, the registrar of the issue. You will need your PAN number, application number, or Demat account number to access your allotment details.
Reasons to Consider Investing in KRN Heat Exchanger IPO
Here are a few reasons why KRN Heat Exchanger has become a highly anticipated IPO:
- Sector Leadership: KRN Heat Exchanger operates in a specialized market, focusing on refrigeration and heat exchanger products, both of which have high demand across various industries.
- Solid Financials: The company has reported consistent revenue growth, with a focus on expanding its production capacity and improving margins.
- Strong Market Sentiment: The surge in GMP and high subscription rates are clear indicators of strong investor confidence.
However, potential investors should exercise caution and consider their risk tolerance before investing, as stock market investments, particularly IPOs, carry inherent risks.
Potential Risks for Investors
While the outlook for KRN Heat Exchanger looks promising, investors should be aware of the following risks:
- Market Volatility: Stock market trends can change rapidly, and what looks like a strong IPO today may face challenges post-listing due to market conditions.
- Sector-Specific Risks: As a company specializing in refrigeration and heat exchanger products, KRN Heat Exchanger is exposed to sector-specific risks such as fluctuating demand and technological advancements.
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Disclaimer
The information provided in this article is for informational purposes only and should not be considered as financial advice. Investors should conduct their own research or consult with a professional advisor before making any investment decisions.
