The IPO obtained bids for 63,91,84,780 shares towards the full supply of 1,09,93,000 shares, in response to information from the National Stock Exchange.
The non-institutional traders’ class is subscibed 135.82 occasions because it witnessed the best demand whereas Retail Particular person Buyers (RIIs) class was subscribed 55.50 occasions. In the meantime, the Certified Institutional Consumers (QIBs) class was subscribed 3.16 occasions.
The Rs 342-crore IPO, with a value band of Rs 209-220 per share, consists of a recent difficulty of 1,55,43,000 fairness shares. The corporate plans to make the most of Rs 242.5 crore for funding in its wholly-owned subsidiary, KRN HVAC Merchandise, to arrange a brand new manufacturing facility in Neemrana, Alwar, Rajasthan. The remaining funds can be used for normal company functions.
The IPO was totally subscribed inside minutes of opening on the primary day and closed with a subscription of 23.73 occasions. Previous to the general public providing, the corporate had raised Rs 100 crore from anchor traders on Tuesday.
KRN Warmth Exchanger and Refrigeration Ltd, primarily based in Rajasthan, specializes within the manufacturing of fin and tube-type warmth exchangers for the warmth air flow air con and refrigeration business. The corporate’s total manufacturing operations are carried out at its consolidated facility, which includes two industrial plots situated within the RIICO Industrial Space, Neemrana, Rajasthan.
Holani Consultants is appearing as the only real book-running lead supervisor for the corporate’s public difficulty.
