KRN Heat Exchanger and Refrigeration's IPO saw a massive response, with the offer being subscribed 211.53 times. The company received bids for 232.53 crore shares against 1.09 crore shares available.
The IPO, which opened on 25 September 2024 and closed on 27 September 2024, had a price band of ₹209-220 per share. Investors could bid for a minimum of 65 shares. Ahead of the IPO, the company raised ₹100.10 crore from anchor investors. KRN, led by promoter Santosh Kumar Yadav, specializes in heat exchangers for the HVAC&R industry.