KRN Heat Exchanger IPO listing price Today: Multibagger Gains Expected as Shares Debut on Stock Market
K KRN Heat Exchanger IPO listing pricetoday promises multibagger gains as shares debut on the stock market. With a strong grey market premium and oversubscription, analysts forecast substantial profits for early investors.
KRN Heat Exchanger IPO listing price Mumbai, October 3, 2024 – The much-anticipated KRN Heat Exchanger IPO listing price has arrived, and investors are bracing for significant returns as the company’s shares debut on the stock exchanges today. With overwhelming demand during the IPO bidding period from September 25 to 27, 2024, KRN Heat Exchanger and Refrigeration Ltd is expected to deliver multibagger gains to early investors.
Analysts and market experts have already predicted a strong start for the stock as it enters the secondary market, and the grey market premium (GMP) for KRN Heat Exchanger shares suggests a bullish outlook.
Strong Demand Driving High GMP
Ahead of the listing, KRN Heat Exchanger’s IPO grey market premium (GMP) was commanding a robust ₹243 per share, reflecting a premium of 110% over the issue price. This signals a potential listing price of around ₹463, compared to the IPO price band of ₹209 to ₹220 per share.
Market experts have noted that the KRN Heat Exchanger IPO listing price could deliver significant gains to investors who participated during the subscription window, with many expecting profits to more than double on listing day.
What to Expect from the KRN Heat Exchanger Listing
The IPO received a resounding response from investors, being oversubscribed by 213.41 times, with particularly strong interest from institutional buyers. The Qualified Institutional Buyers (QIB) category was oversubscribed by 253.04 times, while the Non-Institutional Investors (NII) and Retail Individual Investors (RII) categories were oversubscribed by 431.63 times and 96.74 times, respectively.
The high demand is largely attributed to KRN Heat Exchanger’s leadership in the HVAC&R (Heating, Ventilation, Air Conditioning, and Refrigeration) industry, where it specializes in fin and tube-type heat exchangers. These products are widely used across domestic, commercial, and industrial markets, with KRN counting Daikin, Blue Star, Voltas, and Carrier Aircon among its top clients.
According to Sagar Shetty, Research Analyst at StoxBox, “KRN Heat Exchanger was able to attract significant demand during its IPO due to its strong market positioning, healthy financials, and growth prospects in the booming HVAC market. With urbanization, rising incomes, and energy efficiency trends, the HVAC industry is poised for growth, and KRN is well-positioned to benefit.”
Shetty added that the company’s financial performance for FY24, including revenue of ₹3,083 million, EBITDA of ₹585 million, and profit after tax (PAT) of ₹391 million, has further fueled investor confidence.
Market Experts Signal Multibagger Gains
Analysts have expressed confidence in the KRN Heat Exchanger IPO listing price, suggesting a multibagger return for investors on the day of its stock market debut. According to Prashanth Tapse, Senior VP of Research at Mehta Equities Ltd, “Given the bumper subscription and favorable market sentiments, KRN Heat Exchanger shares are expected to provide 100% to 110% gains on listing day.”
However, Tapse advises early investors to consider booking profits, as post-listing valuations could become overextended in the short term. “It’s wise for those who were allotted shares to book profits given the potential for significant gains. For those who missed out, it’s better to wait for the price to settle before making a purchase,” he added.
KRN Heat Exchanger IPO Listing on BSE and NSE
As per the Bombay Stock Exchange (BSE) notice, KRN Heat Exchanger shares will be listed and available for trading from 10:00 AM today, October 3, 2024, in the ‘B’ group of securities. The company raised ₹341.95 crore through a fresh issue of 1.55 crore equity shares. The funds raised will be used primarily to invest in its wholly-owned subsidiary, KRN HVAC Products Pvt Ltd, for setting up a new manufacturing facility in Neemrana, Rajasthan, and for other general corporate purposes.
KRN Heat Exchanger Financial Snapshot (FY24)
| Metric | Value |
|---|---|
| Revenue | ₹3,083 million |
| EBITDA | ₹585 million |
| Profit After Tax (PAT) | ₹391 million |
| EBITDA Margin | 18.9% |
| PAT Margin | 12.6% |
| ROE | 29.7% |
| ROCE | 24.2% |
| Debt-to-Equity Ratio | 1x |
Conclusion
The KRN Heat Exchanger IPO listing price is poised to deliver a blockbuster debut today, with early investors standing to make substantial gains. Analysts have forecasted that the stock could more than double its IPO price, driven by strong fundamentals, growing market demand, and high investor interest. Those who have been allotted shares should consider booking profits, while those looking to invest are advised to watch for price stability post-listing.
KRN Heat Exchanger has positioned itself as a leader in the HVAC&R industry and is set to capitalize on the expanding market opportunities in India. With a solid financial base and ambitious growth plans, the company’s future looks promising.
