KRN Heat Exchanger IPO: Heat Exchanger IPO is filling up fast, know how much to invest and till when you can bid…

KRN Heat Exchanger IPO: Today is the second day of investment in the Initial Public Offer (IPO) of KRN Heat Exchanger and Refrigeration Limited. The IPO of KRN Heat Exchanger and Refrigeration was subscribed a total of 26.11 times on the first day.

The issue was subscribed 27.24 times in the retail category, 1.44 times in the Qualified Institutional Buyers (QIB) category and 55.59 times in the Non-Institutional Investors (NII) category.

The company wants to raise a total of ₹ 341.51 crore through this issue. For this, the company is issuing 15,523,000 fresh shares worth a total of ₹ 341.51 crore. The existing investors of the company are not selling even a single share through Offer for Sale i.e. OFS.

How much money can be invested:

KRN Heat Exchanger and Refrigeration has fixed the price band of the IPO at ₹209 to ₹220. Retail investors can bid for a minimum of one lot i.e. 65 shares. If you apply for 1 lot at the upper price band of IPO of ₹ 220, then you will have to invest ₹ 14,300 for it.

At the same time, retail investors can apply for a maximum of 13 lots i.e. 845 shares. For this, investors will have to invest ₹ 185,900 as per the upper price band.

The company has reserved 35% of the issue for retail investors and 50% of the issue for Qualified Institutional Buyers (QIB). Apart from this, 35% share is reserved for retail investors and the remaining 15% share is reserved for non-institutional investors (NII). The premium for KRN heat exchanger in the gray market is 108.64%

Before listing, the company's shares had reached a premium of 108.64% i.e. ₹ 239 per share in the gray market. In such a situation, according to the upper price band of ₹ 220, its listing can be at ₹ 459. However, this can only be estimated, the listing price of the share is different from the gray market price.