On the first day of Navratri, a company has made a grand entry in the stock market. Shares of KRN Heat Exchanger have been listed today at a huge premium on both the exchanges - National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The issue price for the company's listing was fixed at ₹ 220 per share, but the shares were listed at more than double the premium on both the exchanges. In this way, the money of those investors who had applied for this IPO and got the allotment of shares doubled on the first day itself.

The share of KRN Heat Exchanger was listed on NSE at ₹ 480 per share against the issue price of ₹ 220 per share. At the same time, this share was listed on BSE at ₹ 470 per share. The company's shares were listed at a premium of more than 118%.

The company has raised a total of ₹ 341.95 crore from this IPO. This IPO was a completely fresh issue, in which 1.55 crore shares have been issued. The price band for this IPO, which was open for subscription between 25 and 27 September, was ₹ 209 - ₹ 220 per share. The size of one lot was 65 shares. The IPO received a tremendous response. Talking about the subscription figures, it was subscribed a record 213.4 times. This IPO was subscribed 253.04 times from the QIB category. Whereas, the NII category subscribed the most at 430.54 times. At the same time, investors from the retail category subscribed it 96.74 times. Talking about the strong financials of the company, the company's income and profit have shown growth in the last 2 trading sessions. As against the income of ₹ 158.23 crore in the financial year 2022, the company's income in the financial year 2023 was ₹ 249.89 crore. During this period, the company's profit also increased from ₹ 10.59 crore to ₹ 32.31 crore. Know about the company It is an emerging company manufacturing fin tubes and other heat exchange related products, which operates on B2B basis. The company's clients include many blue chip companies. Big companies like Daikin, Blue Star, Carrier Aircon, Voltas are in its client list. The company's products are exported to many countries including UAE, America, Italy, Saudi Arabia, Norway, Czech Republic, Germany and Britain. With expansion plans, the company is preparing to show tremendous growth in the coming time. The company has said that the funds raised from this IPO will be used to set up a new manufacturing facility for 100% subsidiary KRN HVAC Products. This facility is planned to be built in Neemrana in Alwar district of Rajasthan.