KRN Heat Exchanger IPO GMP: The IPO of KRN Heat Exchanger, which opened on Wednesday, September 25, closed today i.e. Friday, September 27. The company's IPO received overwhelming support from investors and it received a total subscription of 213.26 times on the last day i.e. today. On the second day of subscription i.e. Thursday, this IPO received 58.14 times subscription. As was expected on Thursday, exactly the same happened on Friday and investors rushed to subscribe to this IPO.
Investors will be given 65 shares in one lot
KRN Heat Exchanger is going to raise Rs 341.95 crore through its IPO. For which the company has fixed the price band of Rs 209 to Rs 220 for each share. Retail investors will have to invest at least Rs 14,300 for one lot, in this amount they will be allotted 65 shares.
Allotment of shares can be done on Monday, 30 September
Let us tell you that in this IPO of KRN Heat Exchanger, all new shares will be issued and there is no OFS involved. The company will issue a total of 1,55,43,000 new shares for Rs 341.95 crore. Allotment of shares can be done on Monday, September 30. After which the shares will be credited to the demat account of the investors on October 1. The company will be listed on both the major exchanges BSE and NSE on Thursday, October 3.
KRN Heat Exchanger shares on fire in gray market
Seeing the tremendous support from investors, there is a strong craze for the company's shares in the gray market also. There is a continuous increase in the premium of the company's shares in the gray market. On Friday, the GMP price of KRN Heat Exchanger shares increased to Rs 276 (125.45 percent), whereas on Thursday, the GMP price of the company's shares was Rs 263 (119.55 percent). It is believed that with the listing of the company in the stock market, its GMP price may go up even higher.
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