Stellar Debut: KRN Heat Exchanger shares list at premium of 118% on NSE- Check details

KRN Heat Exchanger And Refrigeration share listing: Shares of KRN Heat Exchanger And Refrigeration Ltd made a stellar debut on the bourses today with the stock being listed at a premium of over 118 per cent against the issue price of Rs 220.

The stock got listed at Rs 470, reflecting a jump of 113.63 per cent from the issue price on the BSE. Later, it zoomed 125.90 per cent to Rs 497. At the NSE, it surged 118.18 per cent to Rs 480.

The initial share sale of KRN Heat Exchanger and Refrigeration Ltd garnered 213.26 times subscription on the closing day of bidding on Friday, helped by overwhelming participation from institutional investors.

The Rs 342-crore Initial Public Offer (IPO) had a price range of Rs 209-220 per share.

The Rajasthan-based company manufactures fin and tube-type heat exchangers for the heat ventilation, air-conditioning and refrigeration industry.

The company's entire manufacturing operations are carried out at its consolidated manufacturing facility comprising two industrial plots situated in the RIICO Industrial Area, Neemrana, Rajasthan.

With PTI inputs