A bumper listing can be seen in the market on Thursday. According to the estimates of the gray market, with this listing, the money of the shareholders can double. The issue got a bumper response from the investors, due to which there is enthusiasm about the listing in the gray market as well. This issue is of KRN Heat Exchanger and the stock is going to be listed in the market on Thursday.

How was the response to the issue

The issue was subscribed 213 times in total. The company had offered about 1.1 crore shares through the issue. However, by the end of the issue, bids equivalent to 234.6 crore shares were received. The quota of qualified institutions was filled 253 times, the quota of non-institutional buyers 430 times and the quota of retail investors was filled about 97 times. The issue was filled more than 26 times by the end of the first day itself. The issue opened on September 25 and closed on September 27 and the issue price has been kept at Rs 220 per share. What is the estimate regarding listing With the opening of the issue, the grey market is indicating a strong listing of the stock. According to the data till Monday, the stock of KRN Heat Exchange is at a premium of Rs 270. According to Monday's data, the gray market is estimating that the stock may be listed at a premium of Rs 270 more than the issue price of Rs 220, that is, the stock may be listed at Rs 490 or 122.27 per cent. The special thing is that with the opening of the issue, the gray market premium has remained above 100 per cent. Let us tell you that the gray market is not official and here trading of such securities is done which are not listed. Because it is not official, in such a situation, changes can be seen in the signals in any direction with great speed. The market only takes indications from this that in which direction the market sentiments are regarding the listing of this particular security. What does the company do The company is located in Rajasthan and manufactures fin and tube type heat exchangers. Which are used in heating, ventilation, air conditioning and refrigeration industry. The manufacturing facility of the company is located in Neemrana Rajasthan.