KRN Heat Exchanger and Refrigeration Completes Qualified Institutional Placement of Shares
KRN Heat Exchanger and Refrigeration Limited announced the successful completion of its Qualified Institutional Placement (QIP) of equity shares. The allotment of shares was approved by the company's Fund-Raising Committee during a meeting held on June 1, 2026.The Company allotted a total of 33,01,886 Equity Shares, each having a face value of ₹10. The shares were issued at a price of ₹1,060.00 per Equity Share, reflecting a premium of ₹1,050.00 per Equity Share. This transaction aggregated to ₹ 34,999.99 lakhs. The QIP period commenced on May 26, 2026, and concluded on June 1, 2026.
Impact on Capital Structure
The allotment of these shares resulted in an increase in the paid-up equity share capital of the Company. The capital stood at ₹ 62,15,66,000, consisting of 6,21,56,600 Equity Shares of ₹10 each, before the Issue. Following the QIP, the paid-up equity share capital increased to ₹ 65,45,84,860.00, now comprising 6,54,58,486 Equity Shares of ₹10 each.QIP Details
The transaction involved the placement of Equity Shares to eligible qualified institutional buyers. A summary of the allotment details is provided below:| Detail | Value |
|---|---|
| Total Shares Allotted | 33,01,886 Equity Shares |
| Face Value per Share | ₹10 |
| Issue Price per Share | ₹1,060.00 |
| Premium per Share | ₹1,050.00 |
| Total Proceeds Aggregated | ₹ 34,999.99 lakhs |
Top Allottees in the QIP
The list of allottees who received more than 5 percent of the total Issue Size was also provided. The largest allotments were made to VQ FASTERCAP FUND, which acquired 8,49,188 shares, representing 25.72% of the total Issue Size.The top institutional allottees by percentage shareholding include:
| Allottee Name | Shares Allotted | % of Total Issue Size |
|---|---|---|
| VQ FASTERCAP FUND | 8,49,188 | 25.72% |
| VALUEQUEST INDIA INFLEXION FUND | 4,81,000 | 14.57% |
| ABU ASHOKA WHITEOAK ICAV - ASHOKA WHITEOAK INDIA OPPORTUNITIES FUND | 4,61,981 | 13.99% |
| DHABI INVESTMENT AUTHORITY-WAY | 2,36,000 | 7.15% |
| SUBHKAM VENTURES I PVT LTD | 1,88,681 | 5.71% |
| WHITEOAK CAPITAL FLEXI CAP FUND | 1,67,075 | 5.06% |
| BANK OF INDIA MID &SMALLCAP EQUITY& DEBT FUND | 1,41,510 | 4.29% |
| WHITEOAK CAPITAL MID CAP FUND | 1,41,038 | 4.27% |
| WHITEOAK CAPITAL MULTI CAP FUND | 1,18,868 | 3.60% |
The Company maintains its registered and work office at Plot No.: F-46,47,48,49, EPIP, RIICO Industrial Area, Neemrana - 301705 (RJ).
KRN Stock Price Movement
On Monday, KRN Heat Exchanger and Refrigeration Limited shares slipped by 4.99% to settle at ₹1052. The stock traded on a volume of 204,825 shares, completing the session significantly below Monday's previous close of ₹1107.3.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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