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.

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.

(With inputs from agencies.)