KRN Heat Exchanger IPO has received a great response from investors. This IPO, which is creating a stir in the gray market, has received a subscription of more than 200 times on the last day of subscription opening i.e. today.
Let us tell you, GMP is trading higher than the IPO price. The size of this IPO of the main board is Rs 341.95 crore. The company will issue 1.55 crore fresh shares through IPO.
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Investors Rushed To IPO On The Last Day
According to the report, till 6 pm on Friday, 213 times subscriptions had been received on Friday.
The retail category got 96.37 times subscriptions on the last day, the qualified institutional buyers category got 253.04 times and the non-institutional investors’ category got 430.31 times subscriptions.
This IPO was open for retail investors on 25 September. The first day the IPO received 26.11 times subscription. On the next day, they received 58.55 times subscriptions. That is, this IPO has received about 300 times subscriptions on all three days.
Company’s Dominance In The Gray Market
The price band of the KRN Heat Exchanger IPO was fixed from Rs 209 to Rs 220. The company has created a lot of 65 shares. Due to this investors have to bet at least Rs 14,300.
According to the report, the IPO is trading at a premium of Rs 270 in the gray market. If this situation remains, then the company can give a return of 122 percent to the investors on the first day itself.
Let us tell you, that there has been a decline in the GMP of KRN Heat Exchanger IPO. On September 26, this IPO was at a premium of Rs 274.
Allotment Of Shares On Monday
Allotment of shares can be done by the company on Monday, September 30. At the same time, listing on BSE and NSE can happen on October 3.
KRN Heat Exchanger IPO raised Rs 100.10 crore through anchor investors. Let us tell you, that the lock-in period for 50 percent of the shares issued to anchor investors is only 30 days.
Quick Fact
| Company name | KRN Heat Exchanger |
|---|---|
| IPO size | ₹341.95 crore |
| Fresh shares | 1.55 crore |
| Subscription | More than 200 times |
| Final day sub | 213 times |
| Retail sub | 96.37 times |
| QIB sub | 253.04 times |
| NII sub | 430.31 times |
| IPO open date | 25 September |
| First day sub | 26.11 times |
| Second day sub | 58.55 times |
| Price band | ₹209 – ₹220 |
| Lot size | 65 shares |
| Min investment | ₹14,300 |
| GMP today | ₹270 |
| Possible return | 122% |
| Share allotment | September 30 |
| Listing date | October 3 |
| Anchor raise | ₹100.10 crore |
| Anchor lock-in | 30 days for 50% of shares |
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