KRN Heat Exchanger IPO listing: Shares back in green, trade higher after listing at 118% premium

KRN Heat Exchanger Share Price Live Update at 3:30 pm: Price information

Shares of KRN Heat Exchanger and Refrigiration managed to closed ₹475 apiece up 115% from the issue price of ₹220 apiece on the NSE. While 0.75% lower from the listing price of ₹480 apiece on the NSE. The company at the CMP of ₹475 boasts a market cap of ₹2,946 crore on the NSE

KRN Heat Exchanger Share Price Live Update at 3:00 pm: Price information

Current price: ₹483.8(+0.83%)

Open: ₹480

Issue price: ₹220

High: ₹513

Low: ₹450

KRN Heat Exchanger Share Price Live Update at 1:50 pm: Listing price update

Shares of KRN Heat Exchanger and Refrigiration are trading in range bound manner after listing at 118% premium over issue price.

KRN heat exchanger geographical presence The company has a presence in 20 states and 2 union territories in India and exports its products to other countries, including the UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, Poland, China, Canada, Ireland, France, and others.

KRN Heat Exchanger Share Price Live Update at 12:50 pm: Listing day highlights

Shares of KRN Heat Exchanger and Refrigiration listed at a strong premium of 118% on the NSE

Post the listing shares jumped nearly 5% to hit an intraday high of ₹497 apiece on Thursday

Later during the mid-market trading session, shares gave up all the post-listing gains to trade lower by 2% at ₹475 apiece on the NSE.

However, after the short correction, share resumed the rally to hit new intraday high of ₹513 apiece on the NSE.

KRN Heat Exchanger Share Price Live Update at 11:00 am: Price information

Current price: ₹473.3 (-1.35%)

Open: ₹480

Issue price: ₹220

High: ₹497

Low: ₹450

KRN Heat Exchanger listing price: Share gain 3% post listing

KRN Heat Exchanger listing: Shares list at 118% premium

KRN Heat Exchanger shares list at 118% premium over the issue price. The shares listed at ₹480 apiece on the NSE against the issue price of ₹220 apiece. The public issue of KRN Heat Exchanger and Refrigiration recived bumper response as the IPO was oversubscribed by 213x for the issue price of ₹220 apiece.

KRN Heat Exchanger Share Price: About the company

Incorporated in 2017, KRN Heat Exchanger and Refrigeration Limited is a manufacturer of fin and tube-type heat exchangers for heat ventilation, air conditioning and refrigeration industry. Its product portfolio includes condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils and sheet metal parts.

The company has a presence in 20 states and 2 union territories in India and exports its products to other countries, including the UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, Poland, China, Canada, Ireland, France, and others.

Between FY22 and FY24, it saw a 25% CAGR rise in its revenue from operations and 54% in its profit. Moreover, the Indian heating, ventilation, and air conditioning (HVAC) market reported a turnover of $9.1 billion in 2023 and is expected to grow at a CAGR of 14.5% until 2029 to reach USD 20.5 billion, which could benefit the company.