KRN Heat Exchanger’s IPO has gained massive attention on its first day. The IPO received more than 24 times the bids on day one, showing high investor interest.
The company’s shares are also doing well in the gray market, with a premium of over 108%. The IPO opened for subscription on September 25, 2024,
and will remain open until September 27. The total public issue size is Rs 341.95 crore.
Share Price and Grey Market Premium
The price of KRN Heat Exchanger shares in the IPO is set at Rs 220. In the gray market, these shares are trading at a premium of Rs 239.
This suggests that the shares might list at around Rs 459. Investors who are allotted shares in the IPO could see a profit of more than 108% when the company lists its shares.
The listing will take place on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 3, 2024.
High Demand on Day One
On the first day, the IPO was subscribed 24.62 times overall. The retail investor portion was subscribed 24.84 times, while the non-institutional investor (NII) category saw 54.29 times the bids.
The Qualified Institutional Buyers (QIB) category received 1.44 times the subscription.
Retail investors can apply for a minimum of 1 lot and a maximum of 13 lots. Each lot contains 65 shares, meaning an investment of Rs 14,300 is required for one lot.
