KRN Heat Exchanger and Refrigeration shares are scheduled to debut on the stock market today. During the bidding period from September 25 to 27, investors showed exceptional interest in KRN Heat Exchanger IPO.

On the last day of bidding, KRN Heat Exchanger and Refrigeration saw an incredible response, with subscriptions reaching 214.42 times, according to NSE data. Non-Institutional Investors (NIIs) led the way with a subscription rate of 431.

KRN Heat Exchanger and Refrigeration made an impressive debut on Dalal Street, with shares listing at Rs 480 on the National Stock Exchange (NSE), an impressive 118.18% premium over the issue price of Rs 220.

Undermining weak cues from the broader market, KRN Heat Exchanger shares listed at ₹480 apiece on the NSE against the issue price of ₹220.

Ahead of listing, shares of KRN Heat Exchanger were commanding a GMP of Rs 240 per share in the unofficial market, suggesting a listing pop of little more than 110 per cent for the investors.

KRN Heat Exchanger and Refrigeration share price after listing with stellar premium rises further. Bu, Sell or Hold?

The company stated that Rs 242.5 crore will be allocated for investment in its wholly-owned subsidiary, KRN HVAC Products, to establish a new manufacturing facility in Neemrana, Alwar, Rajasthan.

Rajasthan-based KRN Heat Exchanger sold its IPO in the price band of Rs 209-220 per share with a lot size of 65 shares, which was open for bidding between September 25 and September 27.