From a small town in Rajasthan to building a company worth Rs 1,367 crore, Santosh Kumar Yadav’s journey is truly remarkable. His company, KRN Heat Exchanger and Refrigeration Limited made headlines recently with an impressive IPO, making a strong debut on the stock exchange and doubling investors’ money on the day of listing.
KRN Heat Exchanger’s IPO Makes Waves
Amid global market uncertainties caused by geopolitical tensions, KRN Heat Exchanger’s IPO entered the stock market with a bang. The IPO, which was open for subscription from 25 to 27 September, saw immense interest from investors. It received a subscription of 211 times, with the Qualified Institutional Buyers (QIB) category being oversubscribed 253.04 times. This enthusiasm indicated high investor confidence in the company’s future.
The company’s shares were listed at a remarkable 118% premium on the NSE, opening at Rs 480, much higher than its issue price of Rs 220. On the BSE, the shares debuted at Rs 470, reflecting a 113% gain over the issue price. Investors who took part in the IPO saw their money double on the listing day itself, reaping huge profits.
A Winning IPO: Investors Celebrate
Investors who participated in the IPO have been celebrating their returns. With a price band of Rs 209-220 per share, those who secured shares in the IPO reaped significant profits. The minimum lot size was 65 shares, meaning that investors who spent Rs 14,300 on one lot saw their investment grow to Rs 31,200 after listing, giving them a neat profit of Rs 16,900.
For those who went all-in, buying the maximum 845 shares, their investment of Rs 1,85,900 turned into Rs 4,05,600, earning them an impressive profit of Rs 2,19,700 on the first day of trading. This strong debut has made KRN Heat Exchanger’s IPO one of the most successful of the year.
From Small-Town Beginnings to a Rs 1,367 Crore Company
Santosh Kumar Yadav’s story is nothing short of inspiring. Hailing from Tijara, a small town in Rajasthan, and the son of a farmer, Santosh’s path to success was filled with hard work and determination. He started his career as a trainee operator at Lloyd Electric and Engineering but soon realized his ambitions were much bigger.
In 2013, Santosh left his job and partnered with an investor to start Micro Coils and Refrigeration in Bhiwadi. After selling his stake in the company in 2017, he founded KRN Heat Exchanger and Refrigeration Limited. KRN started its manufacturing operations in 2018, focusing on aluminum and copper fin tube condensers and coils, essential components in the HVAC&R (Heating, Ventilation, Air Conditioning, and Refrigeration) industry.
KRN Heat Exchanger’s Expanding Reach
KRN Heat Exchanger’s products are not only in demand across 17 states in India but also have a growing presence in international markets. The company exports its high-quality products to nine countries, including the USA, Canada, Italy, and Germany. This global reach has helped KRN become a major player in the HVAC&R sector, with its products being recognized for their quality and performance.
Bright Future for KRN
The successful listing of KRN Heat Exchanger’s shares and its growing presence in domestic and international markets have given investors and market analysts confidence in the company’s future. The funds raised from the IPO are expected to be used for expansion and further development of the company’s operations. With strong growth potential and an innovative product portfolio, KRN Heat Exchanger is poised for even greater success in the coming years.
Investors are hopeful that the company will continue to perform well, and many expect long-term profits as KRN continues to expand its market reach both in India and globally.
