New Delhi. The race for IPOs continues in the stock market. Today, the IPO of KRN Heat Exchanger and Refrigeration Ltd was open for investors. Investors showed a lot of interest in this IPO. In fact, according to news agency PTI, as soon as the IPO opened, it got fully subscribed within a few minutes.

If you also want to invest in the IPO of this company, then we will tell you in detail about the IPO and its GMP (IPO GMP).

According to the data available on the National Stock Exchange (NSE) till 10:39 am, the company has received bids for 3,40,48,105 shares i.e. 3.10 times subscription. At the same time, QIP was subscribed 6.29 times and retail 3.46 times.

The company said that it has raised Rs 100 crore through anchor investors on Tuesday.

KRN Heat Exchanger and Refrigeration Ltd IPO

The price band of KRN Heat Exchanger and Refrigeration Ltd IPO has been fixed at Rs 209 to Rs 220 per share. The company has issued an IPO of Rs 342 crore. In this IPO, the company is issuing a face issue of Rs 1,55,43,000.

Where will the money raised from IPO be used

The company said that it will use Rs 242.5 crore to set up a new manufacturing facility in Neemrana, Alwar, Rajasthan. For this, the company will invest in its subsidiary company KRN HVAC Products. The remaining amount will be used for corporate purposes.

what the company does

KRN Heat Exchanger and Refrigeration Ltd is an air conditioning and refrigeration industry. It manufactures heat exchangers equipment such as fins and tubes.

What does GMP say (KRN Heat Exchanger and Refrigeration Ltd IPO GMP)

The popularity of KRN Heat Exchange's IPO is also being seen in the grey market. The company's shares are trading with a premium (GMP) of more than 100 percent in the grey market. In such a situation, investors are hoping that they will get double profit after listing.