KRN Heat Exchanger and Refrigeration IPO
KRN Heat Exchanger and Refrigeration Limited (KRN) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 03 October 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +62.7% (likely range +41% to +118%), day's high +76.2%, chance of a gain 97%. Actual: +118.2% at the open, +133.4% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 31,07,455 | 78,63,00,710 | 253x | |
| NII (HNI) total | 23,87,215 | 1,03,03,87,280 | 432x | |
| Big NII (above ₹10 lakh) | 15,91,477 | 70,87,01,695 | 445x | |
| Small NII (₹2-10 lakh) | 7,95,738 | 32,16,85,585 | 404x | |
| Retail | 54,98,330 | 54,04,51,015 | 98.3x | |
| Total | 1,09,93,000 | 2,35,71,39,005 | 214x |
Bids on NSE and BSE together, as published by NSE, as of 27 Sep 2024, 07:00 PM. Shares offered exclude the anchor portion. 20% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to KRN Heat Exchanger and Refrigeration's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Gala Precision EngineeringSep 2024 | 233x | 415x | 91.9x | 201x | ₹168 Cr | +36.3% | +43.1% |
| Orient TechnologiesAug 2024 | 190x | 301x | 66.9x | 152x | ₹218 Cr | +39.8% | +46.8% |
| Manba FinanceSep 2024 | 149x | 512x | 144x | 224x | ₹151 Cr | +20.8% | +26.9% |
| Unicommerce eSolutionsAug 2024 | 139x | 252x | 131x | 168x | ₹277 Cr | +117.6% | +137.0% |
| Mukka ProteinsMar 2024 | 189x | 250x | 58.5x | 137x | ₹224 Cr | +42.9% | +50.9% |
| Motisons JewellersDec 2023 | 157x | 234x | 122x | 160x | ₹154 Cr | +98.2% | +99.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Holani Consultants | 4 | +60.8% | 75% |
Offer documents (NSE)
Frequently asked
What is the KRN Heat Exchanger and Refrigeration IPO price band and lot size? ₹209–220 per share, with a lot of 65 shares, so the smallest retail bid is ₹14,300.
How many times has it been subscribed? 214x overall: QIB 253x, NII 432x, retail 98.3x.
How did it list? It opened at ₹480, +118.2% against the issue price of ₹220, and closed its first day +117.6%.
