Sunil Shankar Matkar
January 18, 2024 / 04:14 PM IST
KRN Heat Exchanger and Refrigeration IPO papers filed with SEBI
Rajasthan-based KRN Heat Exchanger and Refrigeration has filed preliminary documents with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering.
The IPO will be fresh issue of 1,93,05,000 equity shares by the company, documents filed on January 16 show.
The Santosh Kumar Yadav and his wife Anju Devi-promoted company may also consider a pre-IPO placement of up to 4,77,990 equity shares.
If the company raises funds in pre-IPO placement, then the issue size will be reduced accordingly.
KRN manufactures fin and tube type heat exchangers for the heat ventilation air conditioning and refrigeration industry (HVAC&R).
It plans to use the proceeds for setting up a manufacturing facility at Alwar in Rajasthan at and for general corporate purposes.
Also read: Qualitek Labs SME IPO: Check price band, GMP, financials, risks and listing date
The unit will be set by its subsidiary, KRN HVAC Products.
Story continues below Advertisement
KRN has a manufacturing facility in RIICO Industrial Area in Neemrana.
The company supplies its products, including condenser coils, evaporator units, evaporator coils, header/copper parts, fluid and steam coils and sheet metal parts, to customers like Daikin Airconditioning India, Schnieder Electric IT Business India, Kirloskar Chillers, Blue Star, Climaventa Climate Technologies and Frigel Intelligent Cooling Systems India, the documents say.
Also read: Australian Premium Solar debuts with 159% premium over IPO price on NSE SME
The company’s net profit grew to Rs 32.3 crore in March FY23 from Rs 10.6 crore in the previous year.
Revenue jumped 58.5 percent to Rs 247.5 crore, while earnings before interest, tax, depreciation and amortisation surged 191.2 percent to Rs 49.32 crore with a strong margin expansion of 907 basis points at 19.92 percent.
Holani Consultants is the lead manager to the issue.
"exchanger" - Google News
January 18, 2024 at 05:32PM
https://ift.tt/FneCDp8
KRN Heat Exchanger and Refrigeration files papers for IPO - Moneycontrol
"exchanger" - Google News
https://ift.tt/0al7hs1
https://ift.tt/GIyfTmj
Bagikan Berita Ini
0 Response to "KRN Heat Exchanger and Refrigeration files papers for IPO - Moneycontrol"
Post a Comment