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KRN Heat Exchanger and Refrigeration Ltd

Engineering

Offer Period :

25th to 27th Sep 2024

KRN Heat Exchanger and Refrigeration Ltd IPO Details

IPO Date 25th to 27th Sep 2024 Minimum Investment ₹14300 / 1 Lots
Listing Date 2024-10-03 Maximum Investment ₹185900 / 13 Lots
Face Value ₹10 per share Total Issue Size ₹341.95 Crores
Price ₹220 to ₹220 per share Fresh Issue ₹341.95 Crores
Lot Size 1 Lots (65 Shares) Offer For Sale ₹ 0
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹0 per share    
IPO Date 25th to 27th Sep 2024
Listing Date 2024-10-03
Face Value ₹10 per share
Price ₹220 to ₹220 per share
Lot Size 1 Lots (65 Shares)
Listing At BSE, NSE
Employee Discount ₹0 per share
Minimum Investment ₹14300 / 1 Lots
Maximum Investment ₹185900 / 13 Lots
Total Issue Size ₹341.95 Crores
Fresh Issue ₹341.95 Crores
Offer For Sale
Retail Discount ₹ 0

About KRN Heat Exchanger and Refrigeration Ltd :

Established in 2017, is a premier manufacturer and exporter of heat exchangers, coils, and refrigeration components. With a dedicated team with over 20 years of HVAC&R expertise, they claim to deliver custom solutions meeting global standards.

Timeline

Important dates for allocation and IPO listing.

25th Sep

IPO Starts

27th Sep

IPO Ends

30th Sep

Allotment Date

1st Oct

Initiation of Refund

1st Oct

Credit of Shares to Demat Account

3rd Oct

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 94.39 0
Public Group 5.61 0

KRN Heat Exchanger and Refrigeration Ltd IPO Reservation

QIB Shares Offered 3104600(20%)
NII (HNI) Shares Offered 2328450(15%)
Retail Shares Offered 5433050(35%)
Anchor Investor Shares Offered 4656900(30%)
Total Shares Offered 15523000
Total Shares With Anchor Investor 15523000

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

KRN Heat Exchanger and Refrigeration Ltd IPO Registrar

Bigshare Services Pvt Ltd
Phone Number +91 22-6263 8200
Email Id ipo@bigshareonline.com
Our Website www.bigshareonline.com

KRN Heat Exchanger and Refrigeration Ltd IPO Lead Manager

1. Holani Consultants Pvt Ltd

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KRN Heat Exchanger and Refrigeration Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 31,07,455 1,38,52,085 43,36,635.0
Non Institutional Investors (NIIs) 23,87,215 41,98,13,095 43,36,635.0
Non Institutional Investors (Bid amount of more than Ten Lakh Rupees) 15,91,477 24,33,52,135 43,36,635.0
Non Institutional Investors (Bid amount of more than Two Lakh and upto Ten Lakh Rupees) 7,95,738 17,64,60,960 43,36,635.0
Retail Individual Investors (RIIs) 54,98,330 35,25,84,310 43,36,635.0
Total 1,09,93,000 78,62,49,490 43,36,635.0

Strength of KRN Heat Exchanger and Refrigeration Ltd

1. Promoters with strong leadership and supported by a highly experienced senior management.

2. Long standing business relationships with leading clientele.

3. Effective quality control checks.

4. Consistent financial performance.

5. Established Manufacturing facility.

Risks Involved

1. Its revenue from operations has significantly increased from Rs.15,611.46 Lakhs in FY 2021-22 to Rs.24,748.08 Lakhs in FY 2022-23 resulting in growth of o ver 58% (YOY). Similarly, its revenue from operations has further increased from Rs. 24,748.08 Lakhs in FY 2022-23 to Rs. 30,828.31 Lakhs in FY 2023-24 leading to growth of 24% (YOY). Its revenue from operations from last three Financial Years are increasing by Compounded Annual Growth Rate (CAGR) of 25.46%. If the company is unable to sustain or manage its growth rate its business operations and results of operations may be adversely affected, and this rate of growth may not be achievable in the future.

2. Its Profit after Tax ("PAT") has significantly increased from Rs.1,059.04 Lakhs in FY 2021-22 to Rs.3,231.35 Lakhs in FY 2022-23 resulting in growth of over 205.12% (YOY). Similarly, our PAT has further increased from Rs.3231.35 Lakhs in FY 2022-23 to Rs.3906.86 Lakhs in FY 2023-24 leading to growth of 20.90% (YOY). Its PAT from the last three financial years is increasing by CAGR of 54.52%. If the company is unable to maintain these profit margins in future, its financial condition may be adversely affected.

3. The company is dependent on and derive 33.34%, 32.85% and 32.28% of its revenue for the Financial Year 2024, 2023 and 2022 from its single customer namely Daikin Airconditioning India Private Limited and further the company derives 72.31%, 70.87% and 75.82% of its revenue from the company top 10 key customers for the Financial Year 2024, 2023 and 2022 respectively. Delay or Cancellation of orders by any one or all of its top customers could have a material and adverse effect on its business, results of operations and financial condition.

4. The company does not have any long-term agreements with any of its customers. If its customers choose not to source their requirements from the company, it would lead to financial instability and operational uncertainty and its business and financial conditions may be adversely affected.

5. The company relies on limited number of suppliers and procure 14.94%, 17.29% and 17.46% of its raw materials for the Financial Year 2024, 2023 and 2022 from its largest supplier and further the company procure 57.73%, 57.98% and 52.38% of its raw materials from the company Top 5 suppliers and 77.99%, 78.48% and 70.07% of its raw material from its top 10 key suppliers for the Financial Year 2024, 2023 and 2022 respectively. Any delay in the supply of its raw materials by these suppliers may adversely affect the results of operations and financial condition.

6. The company does not have any long-term contracts with any of its suppliers. Further the company is heavily dependent on overseas suppliers to ensure quality supplies to it as per the company quality specifications. Any shortfall in the supply of its raw materials as per the company specifications or an increase in its raw material costs or other input costs or any country specific challenges may adversely affect the pricing and supply of its products and have an adverse effect on the company's business, results of operations and financial condition.

7. The company relies heavily for its raw materials from its vendors in Malaysia, South Korea, Thailand, Vietnam and China and in Financial Year 2024, 2023 and 2022, its import purchases accounted for 78.17%, 79.08% and 72.16% of the company total raw materials purchased. Any country-related risk or any change in Government policies in relation to import of goods or import of goods from any specific country or region may adversely affect the sourcing of its raw materials which may have an adverse effect on the company's business, operations and financial condition.

8. The company is required to obtain, renew or maintain certain statutory and regulatory permits and approvals required to operate its business and if the company fails to do so in a timely manner or at all and its business, financial conditions, results of operations and cash flows may be adversely affected.

9. Its inability to collect receivables from the company customers or default in payment by them could result in the reduction of its profits and affect its cash flows. The company inability to collect receivables from its customers or default in payment by them could result in the reduction of its profits and affect the company cash flows.

10. Its inventory holding is Rs.8,440.52, Rs. 5,508.43 and Rs. 2,130.85 for the Financial Year ended on March 31, 2024, 2023 and 2022 which tantamount to 37.02%, 29.99% and 16.42% of its Cost of Goods Sold. Such continuous increase has led to sub optimal utilization of resources. If the company fails to manage the Inventory and forecast the demand its business operations and financial conditions may be adversely affected.

Why should you invest in

-

Financials

Particulars For the financial year ending (in ₹ million)
  2024
Total Assets 258.36
Total Liabilities 258.36
Total Expenses 257.81
Total Revenue 
313.54
Profit After Tax 39.07
EBITDA 63.71
Adjusted EBITDA 0

KRN Heat Exchanger and Refrigeration Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2024-10-03 544263 KRN
INE0Q3J01015
₹220 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹220 ₹220
Open ₹470 ₹480
Low ₹450 ₹450
High ₹513.4 ₹513.5
Low ₹450 ₹450

Frequently Asked Questions

What is KRN Heat Exchanger and Refrigeration Ltd IPO?

Answer Field

KRN Heat Exchanger and Refrigeration Ltd IPO is a Mainboard IPO of 1,55,23,000 equity shares of a face value of ₹10 aggregating up to ₹341.95 Crores. The issue is priced at ₹220 to ₹220 per share. The minimum order quantity is 65 Shares. The IPO opens on September 25, 2024, and closes on September 27, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When KRN Heat Exchanger and Refrigeration Ltd IPO will open?

Answer Field

The KRN Heat Exchanger and Refrigeration Ltd IPO opens on September 25, 2024 and closes on September 27, 2024.

What is the lot size of KRN Heat Exchanger and Refrigeration Ltd?

Answer Field

KRN Heat Exchanger and Refrigeration Ltd lot size is 65 shares, and the minimum amount required is ₹14,300.

How to apply for KRN Heat Exchanger and Refrigeration Ltd IPO?

Answer Field

You can apply in KRN Heat Exchanger and Refrigeration Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is KRN Heat Exchanger and Refrigeration Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for KRN Heat Exchanger and Refrigeration Ltd IPO will be done on September 30, 2024, and the allotted shares will be credited to your demat account by October 01, 2024.

When is KRN Heat Exchanger and Refrigeration Ltd IPO listing date?

Answer Field

The KRN Heat Exchanger and Refrigeration Ltd listing date is October 03, 2024.

Who is the registrar of KRN Heat Exchanger and Refrigeration Ltd IPO?

Answer Field

The registrar of KRN Heat Exchanger and Refrigeration Ltd IPO is Bigshare Services Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Holani Consultants Pvt Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of KRN Heat Exchanger and Refrigeration Ltd IPO?

Answer Field

The fresh issue size is ₹341.95 Crores equity shares.

What minimum lot size can retail subscribers subscribe to KRN Heat Exchanger and Refrigeration Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 65 shares and ₹14,300 amount.

How can I approve the UPI mandate request for KRN Heat Exchanger and Refrigeration Ltd IPO?

Answer Field

To apply for KRN Heat Exchanger and Refrigeration Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of KRN Heat Exchanger and Refrigeration Ltd?

Answer Field

The price of each KRN Heat Exchanger and Refrigeration Ltd share will be ranging in between ₹220 to ₹220 per share.

What is the cut-off time for the UPI mandate for KRN Heat Exchanger and Refrigeration Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, September 27, 2024.

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