KRN Heat Exchanger IPO allotment: Here’s how to check status online on Bigshare Services, NSE

KRN Heat Exchanger and Refrigeration Limited IPO allotment status is expected to be finalised on September 30, after the issue closed for bidding with a bumper issue. The final status of the allotment is likely to be updated on the exchange and registrar website by late evening on Monday.

KRN Heat Exchanger IPO closed with strong demand across all investor categories on the last day of bidding. The mainboard issue was booked over 212.9 times on the last day of bidding, led by strong demand from Non-Institutional Investors (NIIs).

The investors, who participated in the bidding, are waiting for the KRN Heat Exchanger IPO allotment status to be finalised. The IPO applicants can check the share allotment status online through the websites of the NSE, BSE and issue registrar, Bigshare Services Pvt Ltd.

Steps to check KRN Heat Exchanger IPO share allotment status on NSE

• Open the NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with your username and password. First time users will have to create a login id afresh on the NSE website.
• Select ‘KRN Heat Exchanger and Refrigeration’ from the drop-down menu for issue names.
• Type in the PAN details.
• Enter the IPO application Number.
• Click on the ‘I am not a Robot’ checkbox.
• Click the ‘Submit’ button.

It is important to note that the share allotment status will appear on screen only after the company finalises the share allocation.

KRN Heat Exchanger IPO share allotment status can also be checked on the BSE website by using the PAN and application number.

Here’s how to check KRN Heat Exchanger IPO share allotment status on the registrar's website

• Go to the official website of Bigshare Services- https://ipo.bigshareonline.com/IPO_Status.html.
• Select 'KRN Heat Exchanger and Refrigeration’ from the dropdown menu for company names.
• Select any of the following details— Application Number, Beneficiary ID or PAN— and enter the details to verify.
• Type in the captcha.
• Click on the search button to view the share allotment status.

KRN Heat Exchanger IPO subscription

KRN Heat Exchanger IPO received bids for over 234 crore shares across categories against 1.09 crore shares offered for subscription, leading to an overall booking of 212.9 times.

The Non-Institutional Investors (NIIs) category was booked over 430 times, with applications for 102.32 crore shares compared to 23.87 lakh shares reserved for the category. The retail portion of the IPO was booked nearly 95 times, with applications for over 52.7 crore shares compared to 54.98 lakh shares set aside for the segment.

The Qualified Institutional Buyers (QIBs) booked their quota 253.04 times with bids for over 78.63 crore shares compared to 31.07 lakh shares set aside for the category.

KRN Heat Exchanger IPO objective

KRN Heat Exchanger and Refrigeration plans to use the proceeds from the public issue to set up a new manufacturing facility in Neemrana, Alwar, Rajasthan. The company will also use a portion of the funds for general corporate purposes.

KRN Heat Exchanger IPO details

The mainboard IPO consisted of a fresh issue of 1.55 crore shares. The IPO price band was fixed at ₹209 to ₹220 per share.

The minimum lot size for retail investors was fixed at 65 shares which aggregated to an investment of ₹14,300. After the share allotment status is finalised, KRN Heat Exchanger and Refrigeration will transfer shares into the Demat accounts of the successful bidders on Tuesday, October 1.

KRN Heat Exchanger's IPO listing date has been tentatively scheduled for October 3. The coil manufacturer's shares will be listed on both the NSE and BSE.

About KRN Heat Exchanger and Refrigeration Limited

KRN Heat Exchanger and Refrigeration Ltd is a manufacturer of copper and aluminium fins and tubes, heat exchangers, water coils, condenser coils, and evaporator coils. The products manufactured by the company are used in the domestic, commercial and industrial Heating, Ventilation, air conditioning and refrigeration (HVAC&R) sectors.

The company’s clients include Daikin Airconditioning India Pvt Ltd, Schneider Electric IT Business India Pvt Ltd, Kirloskar Chillers Private Ltd, and other companies in the HVAC&R industry. Its manufacturing facility is situated in Neemrana, Rajasthan.