KRN Heat Exchanger and Refrigeration secured ₹100.1 crore from anchor book

25 Sep 2024 , 09:36 AM

The Rajasthan-based KRN Heat Exchanger and Refrigeration has raised ₹100.1 crore from the anchor investors ahead the opening of IPO.

Many marquee investors took part in the anchor book, some of which are Holani Venture Capital Fund,  Mint Focused Growth Fund, Whiteoak Capital Mutual Fund, Bandhan Small Cap Fund, VQ Fastercap Fund, and Ashoka India Equity Investment Trust.

According to the company’s exchange filing, it has allocated 45.50 lakh equity shares to the investors at the upper end of the price band.

KRN, which manufactures fin and tube type heat exchangers for the heat ventilation air conditioning and refrigeration industry, aims to mobilise Rs 341.95 crore through its initial public offering of 1.55 crore equity shares which comprised of entirely fresh issue.

The IPO is available for subscription from September 25-27 at an issue price of ₹209-220 per share. The company aims to use the net proceeds from the IPO towards setting up a new plant at Alwar, Rajasthan by its subsidiary KRN HVAC Products and for other general corporate purposes.