KRN Heat Exchange IPO subscribed over 58x on day 2 of issue, NIIs steal the show; Latest GMP here | Stock Market News
Source: Live Mint
KRN Heat Exchanger IPO, worth ₹342 crore, comprises a fresh issue of 15,543,000 equity shares. There is no offer-for-sale component in the issue. The price band has been fixed at ₹209 to ₹220 per equity share with a face value of ₹10. The lot size is 65 equity shares; thereafter, it will be in multiples of 65 equity shares.
The floor price is 20.90 times the face value, and the cap price is 22 times the face value of the equity shares. The price-to-earnings ratio based on diluted EPS for the financial year 2024 at the upper price band is 25.32 times, compared to the Nifty 50 PE ratio of 22.90 times.
KRN Heat Exchanger IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional Institutional Investors (NII), and not less than 35 per cent of the offer is reserved for retail investors.
