KRN Heat Exchanger Shares Skyrocket Amid Overwhelming IPO Demand
Shares of KRN Heat Exchanger And Refrigeration Ltd opened with a significant premium on Thursday, leaping by over 118% against its issue price on the BSE. The IPO saw immense interest, being subscribed 213.26 times, and the company's market valuation reached nearly Rs 3,000 crore.
- Country:
- India
Shares of KRN Heat Exchanger And Refrigeration Ltd debuted with a substantial premium, listing over 118% higher than its issue price on Thursday.
The stock opened at Rs 470 on the BSE, a 113.63% increase from its initial pricing, later surging 125.90% to end at Rs 497. On the NSE, it climbed 118.18% to Rs 480.
The company's market valuation hit Rs 2,980.10 crore following an IPO that garnered 213.26 times subscription, driven by robust institutional demand. The Rajasthan-based company manufactures heat exchangers for HVAC industries from its facility in Neemrana.
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