• Source:JND
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KRN Heat Exchanger IPO:  The Rs 342 crore initial public offering of KRN Heat Exchanger, a heat exchanger and tube manufacturer, was subscribed 24.09 times yesterday, the first day of bidding. The company raised Rs 100.10 crore from 10 anchor investors ahead of its public offering and IPO, which opened for subscription on Wednesday, September 25.

The firm allotted 4.55 million equity shares at Rs 220 each to anchor investors. The Book Build IPO, comprising 15.5 million shares entirely in a fresh issue and no offer for sale (OFS) component, will be closing on September 27th, Friday.

KRN Heat Exchanger IPO Subscription Status

According to BSE data, the issue received 24.09 times subscription on the first day of subscription. The portion reserved for retail investors received 23.96 times the subscription while the non-institutional investors’ category received 53.88 times the subscription. Till that time, the QIB portion of the issue saw 1.44 times subscription.

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KRN Heat Exchanger IPO GMP

The grey market premium (GMP) of KRN Heat Exchanger IPO climbed from Rs 239 to Rs 251 on Wednesday. Considering the current GMP trend and the issue price, the share is likely to be listed on the Indian BSE at Rs 471 at a premium of 114.09 per cent.

KRN Heat Exchanger IPO

KRN Heat Exchanger Price Band- The Price band is set at Rs 209 to Rs 220 per share.

KRN Heat Exchanger IPO Size- Rs 342 crore

KRN Heat Exchanger IPO Lot Size- Investors have to bid for at least a lot of 65 shares, which means a minimum investment of Rs 14,300 is needed.

KRN Heat Exchanger Listing Date- The shares are scheduled to be listed on exchanges on October 3.

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