KRN Heat Exchanger IPO :KRN Heat Exchanger IPO has received a great response from investors. This IPO, which is creating a stir in the grey market, has received a subscription of more than 200 times today i.e. on the last day of subscription opening. Let us tell you, GMP is trading at a higher price than the IPO price.

The size of this IPO of the main board is Rs 341.95 crore. The company will issue 1.55 crore fresh shares through the IPO.

Investors rushed for IPO on the last day

According to the report of Chittorgarh, till 6 pm on Friday, 213 times subscription was received. On the last day, the retail category got 96.37 times subscription, the qualified institutional buyers category got 253.04 times subscription and the non-institutional investors category got 430.31 times subscription.

This IPO was open for retail investors on 25 September. On the first day, the IPO got 26.11 times subscription and on the second day, it got 58.55 times subscription. That is, on all three days, this IPO has received nearly 300 times subscription.

The company's dominance in the grey market

The price band of KRN Heat Exchanger IPO was fixed at Rs 209 to Rs 220. The company has made a lot of 65 shares. Due to which investors have to bet at least Rs 14,300. According to the report of Investor Gain, the IPO is trading at a premium of Rs 270 in the gray market today. If this situation remains, then the company can give a return of 122 percent to the investors on the very first day. Let us tell you, there has been a decline in the GMP of KRN Heat Exchanger IPO. On September 26, this IPO was at a premium of Rs 274.

Allotment of shares on Monday

The allotment of shares by the company can be done on Monday, 30 September. Whereas, the listing on BSE and NSE can happen on 3 October. KRN Heat Exchanger IPO had raised Rs 100.10 crore through anchor investors. Let us tell you, the lock-in period for 50 percent of the shares issued to anchor investors is only 30 days.