KRN Heat Exchanger and Refrigeration Limited has successfully completed a Qualified Institutions Placement (QIP) of equity shares. The company approved the allotment of 33,01,886 Equity Shares of face value ₹10 each at an issue price of ₹1,060.00 per share. This placement, priced at a premium of ₹1,050.00 per share, has raised approximately ₹34,999.99 lakhs. The Issue opened on May 26, 2026, and closed on June 1, 2026.
KRN Heat Exchanger Finalizes Equity Placement
KRN Heat Exchanger and Refrigeration Limited announced today, June 1, 2026, the successful completion of its Qualified Institutions Placement (QIP). The company’s Fund-Raising Committee has approved the allotment of 33,01,886 Equity Shares, each with a face value of ₹10. These shares were issued at an aggregate issue price of ₹1,060.00 per Equity Share. This price includes a premium of ₹1,050.00 per Equity Share and represents a discount of 4.85% from the floor price of ₹1,114.05 per Equity Share, as determined under the relevant regulations.
Significant Capital Infusion
The total amount raised through this placement is approximately ₹34,999.99 lakhs. The Issue period commenced on May 26, 2026, and concluded on June 1, 2026. The capital infusion is expected to bolster the company’s financial standing and support its future growth initiatives. Following this allotment, the company’s paid-up equity share capital has increased from ₹62,15,66,000 (6,21,56,600 Equity Shares) to ₹65,45,84,860.00 (6,54,58,486 Equity Shares).
Allottees of Significant Stakes
As per the requirements, a list of allottees who have received more than 5% of the equity shares offered in the placement has been attached as Annexure A. Notably, VQ FASTERCAP FUND was allotted 8,49,188 shares, representing 25.72% of the total issue size. VALUEQUEST INDIA INFLEXION FUND received 4,81,000 shares, accounting for 14.57% of the issue. ASHOKA WHITEOAK ICAV – ASHOKA WHITEOAK INDIA OPPORTUNITIES FUND was allotted 4,61,981 shares, making up 13.99% of the total placement.
Meeting Details
The Fund-Raising Committee meeting to approve these allotments commenced at 10:40 p.m. and concluded at 11:00 p.m. on June 1, 2026.
Source: BSE
