Due to the buzz of IPO in the stock market, investors are getting a lot of opportunities to earn big money. Recently, the IPO of Bajaj Group had doubled the investors’ money as soon as it was listed. Now another multibagger IPO has come in the queue of Bajaj, which is indicating to double the money with the listing.
This was the IPO of KRN Heat Exchanger
This is the story of the IPO of KRN Heat Exchanger and Refrigeration, a fin and tube type heat exchanger manufacturing company. The company manufactures aluminum and copper heat exchangers and coils used in air conditioning and refrigeration. This IPO opened for subscription from 25 September to 27 September. The price band for the IPO was fixed at Rs 209 to 220 and there were 65 shares in one lot.
Shares will be listed on October 3
Only fresh shares were issued in this IPO of Rs 342 crore. Half the share in the IPO was reserved for QIB. 35 percent share was kept for retail investors and 15 percent for non-institutional investors. The company will finalize the allotment of shares on September 30, while the shares can be credited to the demat account of successful bidders by October 1. KRN Heat Exchanger shares will be listed on the stock exchange on October 3.
Listing can be so explosive
Investors were in a hurry to buy this IPO. According to data from Chittorgarh.com, this IPO was subscribed more than 213 times overall. Right now, before the listing, the IPO is creating a stir in the gray market. Currently its GMP is at Rs 275. That means its gray market premium is currently increasing by 125 percent from the upper price band. In this context, the company’s shares can be listed at Rs 495. Meaning investors can get returns like Bajaj Housing Finance. Bajaj Housing Finance was listed with an increase of 114 percent.
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Also read: Investors pounce on KRN Heat Exchanger IPO, subscription increased 212 times, lottery is certain for those getting allotment!
