KRN Heat Exchanger and Refrigeration Limited Completes QIB Placement of Equity Shares
KRN Heat Exchanger and Refrigeration Limited announced on June 01, 2026, the successful conclusion of its qualified institutions placement (QIP) of equity shares. The outcome was approved by the company’s Fund-Raising Committee (FRC) following a meeting held on June 1, 2026.The FRC meeting commenced at 09:40 p.m. and concluded at 10:00 p.m. During the meeting, the committee approved the closure of the Issue, a development triggered by the successful receipt of application forms and funds from eligible qualified institutional buyers (QIBs) in accordance with the established terms.
The board also determined and approved the allocation of a total of 33,01,886 Equity Shares. The Issue price was set at ₹1,060.00 per Equity Share. This valuation incorporated a premium of ₹1,050.00 per Equity Share, which represented a discount of 4.85% against the floor price of ₹1,114.05 per Equity Share.
The FRC further finalized essential documentation related to the transaction. These approvals included the placement document dated June 1, 2026, and the confirmation of the allocation note, which will be sent to the eligible QIBs.
The details of the equity share allocation are summarized below:
| Metric | Value |
|---|---|
| Total Equity Shares Allocated | 33,01,886 |
| Issue Price Per Share | ₹1,060.00 |
| Premium Per Share | ₹1,050.00 |
| Discount to Floor Price | 4.85% |
| Floor Price Per Share | ₹1,114.05 |
KRN Stock Price Movement
On Monday, KRN Heat Exchanger and Refrigeration Limited shares slipped by 4.99% to settle at ₹1052, marking a significant retreat from its previous close. The equity recorded a trading range between ₹1052 and ₹1131.1 and concluded the session with 204,825 shares traded.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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