KRN Heat Exchanger and Refrigeration Limited confirms no deviation or variation in the use of funds raised through its Initial Public Offer (IPO). The audit committee has reviewed the utilization of funds for the quarter ended December 31, 2025. All funds have been allocated as originally intended, with no changes to contract terms or objectives.
IPO Funds Allocation
KRN Heat Exchanger and Refrigeration Limited confirms that funds raised through the Initial Public Offer (IPO) have been utilized with no deviations or variations from the originally stated objectives.
Review of Funds Utilization
The Audit Committee of the Company has thoroughly reviewed the utilization of funds for the quarter ended December 31, 2025.
Details of Funds Utilized
The IPO raised INR 341.94 Crore, with funds allocated as follows:
Investment in Subsidiary
An amount of INR 21935.72 Lac was invested in KRN HVAC Products Private Limited for setting up a new manufacturing facility.
General Corporate Purposes
INR 7536.00 Lac was allocated and utilized for general corporate purposes.
Issue Related Expenses
INR 3000.96 Lac was allocated and utilized for issue-related expenses.
Source: BSE
