KRN Heat Exchanger IPO received a strong response from investors. The company will issue allotment status on Monday (September 30) and the shares will be listed on exchanges on October 3, 2024. The grey market premium and strong demand for IPO suggests a strong opening for this stock.

KRN Heat Exchanger, a leading manufacturer and exporter of aluminum heat exchangers, witnessed a tremendous response from investors for its Rs 342 crore Initial Public Offering (IPO). The IPO was oversubscribed by a staggering 213 times on the final day of bidding, highlighting strong investor confidence. The allotment process is scheduled to take place on September 30, with the listing expected on October 3, 2024. Below are the key details and investor insights regarding the IPO, Grey Market Premium (GMP), and the upcoming milestones.

Impressive Oversubscription for KRN Heat Exchanger IPO

KRN Heat Exchanger IPO was oversubscribed by an astonishing 213 times.
The IPO, which opened for bidding on September 25, 2024, and closed on September 27, 2024, attracted immense interest from investors. The overwhelming subscription underscores strong market confidence in KRN's position as a leader in the aluminum heat exchanger industry. The company's strong export portfolio and market presence have clearly resonated with retail and institutional investors alike.

IPO Allotment and Listing Timeline

The allotment status for KRN Heat Exchanger IPO will be finalized on September 30, 2024.
The company will begin processing the allotment of shares, approving the bid lot sizes based on investor applications. Investors can check their allotment status via the BSE, NSE, and Bigshare Services websites. Following the share allotment, refunds and the crediting of eligible shares will occur on October 1, with KRN Heat Exchanger expected to make its market debut on October 3, 2024.

Grey Market Premium (GMP) Insights

The Grey Market Premium (GMP) for KRN Heat Exchanger IPO indicates strong potential upside.
As of September 29, 2024, the GMP for KRN Heat Exchanger stood at ₹275, based on data from Investor Grain. With the IPO price band set at ₹220 per share, the estimated listing price is projected to be ₹495 per share, implying a potential gain of 125%. While GMP is not an official metric, it is widely regarded as a reliable indicator of potential listing performance.

Investor Outlook and Key Dates

The KRN Heat Exchanger IPO is poised for a strong debut based on current market sentiment.
The IPO’s massive oversubscription, coupled with a robust GMP, points to substantial demand ahead of the listing. Investors should note key dates, including the allotment on September 30, refunds and share credit on October 1, and the listing on October 3, 2024. As the market anticipates KRN Heat Exchanger’s debut, investors are closely watching for further GMP updates.

In conclusion, the KRN Heat Exchanger IPO has generated significant market enthusiasm, with the oversubscription and GMP signaling strong investor confidence. The company’s upcoming listing is highly anticipated, with a substantial premium expected on the first day of trading.