KRN Heat Exchanger Limited (Mainboard)

Sep 25, 2024 - Sep 27, 2024

Premium	₹235
Price	₹209 - ₹220
Lot size	65
Allotment	Sep 30, 2024
Listing	Oct 3, 2024

Category	Lot(s)	Qty	Amount	Reserved
Retail	1	65	14300	84590
sHNI	14	910	200200	874
bHNI	70	4550	1001000	1749

Last updated on 27-Sep-2024 19:59:13

Category	Offered	Applied	Times
QIBs	3107455	786300710	253.04
HNIs	2387215	1032748080	432.62
HNIs 10+	1591477	708701695	445.31
HNIs 2+	795738	324046385	407.23
Retail	5498330	551966090	100.39
Total	10993000	2371014880	215.68

Application Wise Breakup (Approx)
Category	Reserved	Applied	Times
HNIs (10L+)	1749	143226	81.89
HNIs (2-10L)	874	332512	380.45
Retail	84590	6038503	71.39
Total Applications: 6514241
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Subscription Demand (in ₹ crore)
Category	Offered	Demand	Times
QIBs	68.36	17298.62	253.04
FIIs	-	3486.12	-
DIIs	-	7259.64	-
Mutual funds	-	414.61	-
Others	-	5899.92	-
HNIs	52.52	22720.46	432.62
HNIs 10+	35.01	15591.44	445.31
HNIs 2+	17.51	7129.02	407.23
Retail	120.96	12143.25	100.39
Total	241.85	52162.33	215.68

QIB Interest Cost per share (7 Days)
@7% ₹74.73	@8% ₹85.41	@9% ₹96.09	@10% ₹106.76	@11% ₹117.44	@12% ₹128.11

About

IPO Details

Issue Size	(15,523,000)shares (aggregating up to ₹(341.5) Cr
Fresh Issue	1,55,23,000 shares (aggregating up to ₹(341.5) Cr
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	43,999,980
Share holding post issue	59,542,980

IPO Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not more than 50.00% of the Net offer
Retail Shares Offered	Not less than 35.00% of the Net Offer
NII (HNI) Shares Offered	Not less than 15.00% of the Net Offer

Key Performance Indicators

KPI	Mar-24	Mar-23	Mar-22
ROE	40.86%	75.94%	54.88%
ROCE	31.21%	50.46%	34.65%
D/E	0.45	0.62	0.87
RONW	29.68%	54.24%	41.48%
EPS (Basic)	8.69	7.34	2.41
P/E Pre IPO	24.78
P/E Post IPO	33.52

Financial Statement (Restated)

Period	Mar-24 (Consoli - dated)	Mar-23 (Standlone)	Mar-22 (Standlone)
Assets	258.36	148.76	92.79
Revenue	313.54	249.88	158.22
Profit After Tax	39.07	32.31	10.59
Net Worth	131.65	59.57	25.53
Reserves	85.51	15.57	21.13
Borrowings	59.69	36.64	22.12
Amount in Crores

About Company

KRN Heat Exchanger and Refrigeration Limited was incorporated on August 25, 2017. The company specializes in the design, manufacture, and supply of heat exchangers and refrigeration systems, serving a range of industrial applications. Its product portfolio includes air-cooled heat exchangers, finned tubes, and pressure vessels. The company caters to sectors such as oil and gas, power generation, and chemical processing. As of the latest data, KRN employs approximately 240 individuals, contributing to its robust manufacturing and technical operations

Lead Manager(s)

Holani Consultants Private Limited

Strength

Strong Leadership: The company's promoters exhibit strong leadership, backed by an experienced senior management team.

Established Clientele: Long-standing business relationships with leading clients, contributing to sustained business growth.

Consistent Financial Growth: Demonstrated financial stability with consistent revenue and profit increases over the years.

Weakness

Revenue Growth Uncertainty: Despite a strong growth rate (58% in FY 2023 and 24% in FY 2024), sustaining this growth may be challenging, and failure to do so could adversely impact operations.

Customer Dependence: The company lacks long-term agreements with customers, creating financial and operational instability if key clients switch suppliers.

Supply Chain Risk: Heavy reliance on imported raw materials (78% in FY 2024) from countries like Malaysia and China exposes the company to potential risks from geopolitical issues or changes in import policies.

Registrar

Bigshare Services Private Limited
Phone: +91 22-62638200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html