The KRN Heat Exchanger IPO was subscribed 212.9 times overall as a result of bids for over 234 crore shares were received across categories compared to 1.09 crore shares offered for subscription, according to NSE coconsolidated bid data.
Subscription across categories
With applications for 102.32 crore shares versus the 23.87 lakh shares set aside for the Non-Institutional Investors (NIIs) category, the category was booked over 430 times.
In comparison to the 54.98 lakh shares reserved for the segment, applications for over 52.7 crore shares were received during the nearly 95-times booking of the retail portion of the IPO.
With bids for over 78.63 crore shares as opposed to the 31.07 lakh shares set aside for the category, the Qualified Institutional Buyers (QIBs) booked their quota 253.04 times.
Listing and subscription timetable
It is expected that the share allotment status will be finalised on Monday, September 30. On the same day that the public issue's share allotment status is finalised, successful bidders will receive shares of KRN Heat Exchanger in their Demat accounts, and unsuccessful bidders will start receiving refunds on Tuesday, October 1.
The company will list its shares on the NSE and BSE. The tentative listing date for the shares is this Thursday, October 3.
From September 25 to September 27, subscriptions were accepted for KRN Heat Exchanger and Refrigeration Limited's Rs 341.95 crore book-building issue.
Price band and minimum bid
1.55 crore new shares were issued as part of the mainboard IPO. The fixed price range for the initial public offering was Rs 209 to Rs 220 per share. Retail investors had to invest Rs 14,300 in a minimum lot size of 65 shares.
Utilisation of IPO proceeds
The public offering's proceeds will be used by KRN Heat Exchanger and Refrigeration to establish a new production plant in Neemrana, Alwar, Rajasthan. A portion of the money will also be used by the business for regular operations.
