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KRN Heat Exchanger & Refrigeration Ltd.: KRN Heat Exchanger & Refrigeration Limited IPO will next open on Sep 25, 2024 and close on Sep 27.
The total issue size of equity shares of face value of Rs 10 each comprises fresh issue of up to 1,55,43,000 equity shares. The total issue size at the upper price band is Rs 341.95 crore and at the lower price band is Rs 324.85 crore.
Anchor investor bidding will next take place on September 24, 2024. Bids can be placed for a minimum of 65 equity shares and in multiples of 65 equity shares thereafter. Along with this, the company has kept the issue price band at Rs 209 to Rs 220 per equity share.
The gross proceeds from the fresh issue of equity shares of the Company will be used for investment in the form of equity in our wholly-owned subsidiary KRN HVAC Products Private Limited for setting up a new manufacturing unit at Neemrana, Alwar, Rajasthan worth Rs 24,246.10 lakh i.e. Rs 242.46 crore and for general corporate purposes.
The equity shares will be issued through the company's Red Herring Prospectus (RHP) filed with the Registrar of Companies in Jaipur, Rajasthan on September 14, 2024, and it plans to list it on BSE Limited (BSE) and the National Stock Exchange of India.