KRN Heat’s IPO Fully Subscribed

New Delhi: The initial public offer of KRN Heat Exchanger and Refrigeration Ltd got fully subscribed within minutes of opening for share sale on Wednesday. The initial share sale received bids for 3,40,48,105 shares against 1,09,93,000 shares on offer, translating into 3.10 times subscription, as per data available with the NSE till 10:39 hours. Non-Institutional Investors subscribed 6.29 times the offer, while the Retail Individual Investors (RIIs) portion received 3.46 times subscription.

KRN Heat Exchanger and Refrigeration Ltd on Tuesday said it has raised Rs 100 crore from anchor investors. The Rs 342-crore IPO is available for public subscription during September 25-27 in the price range of Rs 209-220 per share. KRN Heat Exchanger’s IPO involves a fresh issue of 1,55,43,000 equity shares valued at Rs 342 crore at the upper-end of the price band.