KRN Heat Exchanger and Refrigeration Ltd’s Initial Public Offering (IPO) will be open for registration on the 25th of September.
Based on grey market price (GMP) trends and the current market conditions, the IPO is likely to receive a favorable reception from potential investors. According to the report, the GMP for the stock increased to Rs 240 on Monday.
When the stock is priced at Rs 460 that would be at a premium of 109 % more than the higher IPO price of Rs 220. But, GMP is not the official price for the shares and is an estimate based on speculation.
IPO Details
The time for investors to subscribe will open between September 25 and September 27. The price range of the IPO is between Rs 209 and 220 rupees per share.
The bidding process for anchor investors is scheduled to begin on the 24th of September. As per the firm, the minimum amount of shares to bid on will be 65 shares. Further bids will be in multiples of this.
The Rajasthan-based KRN Heat Exchanger’s goal is to raise Rs 341.95 crore via the mainboard issue. The company’s first offering is comprised of a brand new offering of just 1.55 equity shares with no offer to sell part.
Quick Fact
| Company name | KRN Heat Exchanger and Refrigeration |
|---|---|
| IPO open date | September 25 |
| IPO close date | September 27 |
| Price range | ₹209 – ₹220 per share |
| IPO size | ₹341.95 crore |
| Share allotment | 65 shares minimum |
| Additional shares | Multiples of 65 |
| IPO type | Mainboard |
| Anchor investor bidding | September 24 |
| Fresh issue size | 1.55 crore equity shares |
| Offer for sale | None |
| Possible premium | ₹240 GMP (unofficial) |
| Possible target price | ₹460 |
| Location | Rajasthan |
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