Rare Tale Of A Farmer's Son Who Is Bringing Rs 342 Crore IPO Tomorrow; Here's All About KRN Heat Exchanger IPO

In KRN Heat Exchanger IPO, what has caught people's eye is the perseverance and hard work of a humble farmer's son, trying his luck for stock market success.

New Delhi: You've probably seen many initial public offerings (IPOs) debut on stock markets, but KRN Heat Exchangers' public offering is one of the rare tales of a farmer's son trying his luck for stock market success. The IPO chronicles the rise of Santosh Kumar Yadav, a small-town resident of Tijara, Rajasthan, who is the son of a farmer, to become the CEO of a significant manufacturing company and make his debut on the stock exchange. 

September 25, 2024, is the scheduled opening date for the KRN Heat Exchanger issue. The price range for the planned IPO is Rs 209–220 per share. The company intends to raise Rs 342 crore through the IPO.

KRN Heat Exchanger IPO: Early Life and Career Of Santosh Kumar Yadav

Santosh Kumar Yadav is a resident of the Rajasthani village of Tijara. His father is a farmer. Yadav and his family serve as an excellent example of how perseverance and hard work can propel one up the success ladder. Yadav started off at Lloyd Electric and Engineering as a trainee operator. In 2013, Yadav quit the company to pursue his dream of being a successful businessman. He then partnered with an investor to co-found Micro Coils and Refrigeration in Bhiwadi, Rajasthan. In an attempt to expand even further, he sold his interest in that business in 2017 and started KRN Heat Exchangers and Refrigeration. 

KRN Heat Exchanger: Yadav grows his company to generate Rs 308.28 crore in revenue

The company specializes in producing goods for the HVAC (Heating, Ventilation, Air Conditioning, and Refrigeration) industry. The business has expanded greatly. Having commenced production in 2018, the company currently serves clients in 17 states throughout India and exports to nine nations, including the US, Canada, Italy, and Germany. For FY24, the company had consolidated revenue of Rs 308.28 crore. 

Details Of KRN Heat Exchanger and Refrigeration Ltd’s Rs 342 Crore IPO

KRN Heat Exchanger and Refrigeration Ltd’s Rs 342 Crore initial public offering (IPO) will open on September 25. The company has announced a price band of Rs 209 to Rs 220 per share for its Rs 342-crore IPO with the proceeds to drive the company's expansion plans.

KRN Heat Exchanger and Refrigeration IPO Opening/Closing Dates

The Rajasthan-based company's initial share-sale will open for public subscription on September 25 and conclude on September 27. Brokerage houses have pegged the company's market capitalisation to over Rs 1,300 crore post-issue.

KRN Heat Exchanger and Refrigeration IPO Bidding

KRN Heat Exchanger's proposed IPO involves a fresh issue of 1,55,43,000 equity shares valued at Rs 342 crore at the upper-end of the price band, the company said in a statement.

Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 65 equity shares and in multiples of 65 equity shares thereafter.

KRN Heat Exchanger and Refrigeration IPO Listing Dates

Holani Consultants is the sole book-running lead manager to the company's maiden public issue. Shares of the companies are expected to be listed on the exchanges on October 3.