KRN Heat Exchanger IPO: If you are thinking of investing in an IPO, then next week is going to be very special for you. IPOs of many companies will be launched next week. These include a tremendous IPO of a main board. Actually, the shares of the IPO we are talking about are already trading at 100% premium in the grey market. We are talking about KRN Heat Exchanger and Refrigeration Limited IPO. The IPO of KRN Heat Exchanger and Refrigeration Limited will open for investment on September 25 and close on September 27. Big (anchor) investors will be able to bid on September 24. The price band has been fixed at Rs 209-220 per share.
What is going on GMP?
According to Investorgain.com, KRN Heat Exchanger and Refrigeration Limited IPO is available in the grey market at a premium of Rs 223. This means that the potential listing price of the company’s shares can be Rs 443. That is, investors can make a huge profit of about 102% on the very first day. Let us tell you that the company’s shares can be listed on October 3.
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what is the detail
The IPO of KRN Heat Exchanger and Refrigeration Limited is worth Rs 342 crore. The company has fixed a price band of Rs 209-220 per share for this. The purpose of the IPO is to further the company’s expansion plans. This Rajasthan-based company manufactures fin and tube type ‘heat exchangers’ for the ‘heat ventilation air conditioning’ and ‘refrigeration’ industry. According to the documents, the IPO includes fresh shares of 1,55,43,000. Its total value is Rs 342 crore. The company had announced last month to raise Rs 9.54 crore in the pre-IPO placement cycle.
