This IPO created a stir by being subscribed more than 200 times, double profit expected tomorrow

KRN Heat Exchanger and Refrigeration: There is a wave of IPOs on the stock market these days. Every week there is a queue of mainboard and SME IPOs on BSE and NSE, one after the other. Investors are also showering a lot of love on them. The IPO of one such company, KRN Heat Exchanger and Refrigeration, was open between 24 and 27 September. It created such a stir that its subscription closed after reaching 213.41 times. People bid heavily on it. Its listing is going to happen on Thursday, October 3. Its GMP is also running at Rs 230, which indicates doubling of investors’ money.

IPO is worth Rs 341.95 crore, this company was formed in 2016

The IPO of KRN Heat Exchanger and Refrigeration was subscribed 96.74 times in the retail category, 253.04 times in the QIB category and 430.54 times in the NII category. In such a situation, investors are now expecting its blockbuster listing. The allotment of shares in this IPO has been done on Monday, 30 September. This small company, formed just 7 years ago in 2016, had kept the price range between Rs 209 to Rs 220 in the IPO. The IPO of the company is only Rs 341.95 crore. This is a completely fresh issue and in this the company has issued 1.55 crore shares.

Listing may be around Rs 450, money will double

According to various websites, the gray market price (GMP) of KRN IPO had reached Rs 270 during subscription. However, at present there has been a slight decline in it. Still it remains at Rs 230. In such a situation, its listing can be around Rs 450. It can debut on the stock market on Thursday by going up by about 105 percent from its issue price. If this happens then investors’ money will double in a day.

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