KRN Heat Exchanger and Refrigeration Limited has successfully concluded its Qualified Institutions Placement (QIP) of equity shares. The Fund-Raising Committee approved the closure of the issue on June 1, 2026. A total of 33,01,886 Equity Shares were allocated at an issue price of ₹1,060.00 per share, including a premium of ₹1,050.00, which represented a discount to the floor price.
Qualified Institutions Placement Concludes
KRN Heat Exchanger and Refrigeration Limited has announced the successful completion of its Qualified Institutions Placement (QIP). The company’s Fund-Raising Committee met on June 1, 2026, to review and approve key aspects of the placement, which was conducted under Chapter VI of the SEBI ICDR Regulations and Section 42 of the Companies Act, 2013.
Key Decisions and Allocations
During the meeting held on June 1, 2026, the Fund-Raising Committee took several significant decisions. Primarily, they approved the closure of the Issue. This closure was made possible by the receipt of application forms and the necessary funds in the escrow account from eligible Qualified Institutional Buyers (QIBs).
The committee also finalized the allocation of 33,01,886 Equity Shares. These shares were issued at a price of ₹1,060.00 per Equity Share, which includes a premium of ₹1,050.00. This issue price was determined considering a 4.85% discount to the floor price of ₹1,114.05 per Equity Share, in line with the pricing formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations.
Placement Document and Confirmation
Furthermore, the committee approved and adopted the placement document dated June 1, 2026, related to this Issue. They also approved and finalized the confirmation of allocation notes. These notes will be sent to the eligible QIBs, officially informing them of their allocation of Equity Shares pursuant to this placement.
Meeting Details
The Fund-Raising Committee meeting commenced at 09:40 p.m. and concluded at 10:00 p.m. on June 1, 2026.
Source: BSE
