KRN Heat Exchanger’s IPO will close tomorrow
KRN Heat Exchanger IPO GMP: These days there is a boom in the Indian stock market. Be it the shares of existing companies listed in the market or new IPOs, investors are getting happiness from all sides. Meanwhile, there is also an IPO which is getting a lot of support from the investors. Yes, we are talking about the IPO of KRN Heat Exchanger. This IPO, which opened on Wednesday, September 25, will close tomorrow i.e. Friday, September 27. This company wants to raise Rs 341.95 crore through its IPO. For which it has fixed a price band of Rs 209 to Rs 220 for each share. Retail investors will have to invest at least Rs 14,300 for one lot, in this amount they will be allotted 65 shares.
The company’s IPO received 58.14 times subscription on the second day
On the second day of subscription i.e. today, Thursday, the total subscription for this IPO has crossed 58 times. Yes, the IPO has received a total subscription of 58.14 times till the second day. Let us tell you that all new shares will be issued in this IPO of KRN Heat Exchanger and no OFS is included in it. The company will issue a total of 1,55,43,000 new shares for Rs 341.95 crore. Allotment of shares can be done on Monday, 30 September. After which the shares will be credited to the demat account of the investors on October 1. On Thursday, October 3, the company’s listing will be on both major exchanges BSE and NSE.
KRN Heat Exchanger stock roaring in the grey market
As we just told you that the company’s IPO is getting tremendous support from investors. So in such a situation, there is a strong demand for the company’s shares in the gray market as well. On Thursday, the company’s shares were trading at a huge premium of Rs 263 i.e. 119.55 percent in the gray market. Tomorrow is the last day of this IPO. In such a situation, it is believed that tomorrow i.e. on Friday, there may be a tremendous increase in the number of investors bidding for this IPO. Therefore, by the time the company gets listed in the stock market, its GMP price can go up even more than Rs 263.
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