From a farmer’s son in Rajasthan to the helm of a multi-million rupee IPO, Santosh Kumar Yadav’s journey with KRN Heat Exchangers is nothing short of remarkable. With the upcoming IPO set to raise Rs 342 crore, here’s everything you need to know about this exciting development and the future of this burgeoning company.
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KRN Heat Exchangers and Refrigeration Set to Launch IPO
Santosh Kumar Yadav, a trailblazing entrepreneur hailing from Tijara, Rajasthan, is making waves with his company, KRN Heat Exchangers and Refrigeration. Let’s dive into the details, shall we?
From Lloyd Electric to KRN: The Entrepreneurial Journey
Back in 2013, Santosh Kumar Yadav took a leap of faith and founded KRN Heat Exchangers and Refrigeration after leaving his job at Lloyd Electric and Engineering. Fast forward to today, KRN is a key player in the HVAC&R industry, manufacturing top-notch aluminium and copper fin tube condenser and evaporator coils.
Impressive Financial Feats
KRN isn’t just making waves, it’s also making some serious money moves. The company recently reported a consolidated revenue of a whopping Rs 308.28 crore in FY24, showcasing an impressive return on equity and return on capital employed.
IPO Buzz: What’s the Scoop?
Hold onto your hats because KRN is all set to launch its Initial Public Offering (IPO) on September 25! With a price band of Rs 209-220, the company is aiming to raise up to Rs 342 crore. The funds raised will be used to set up a new manufacturing facility at Neemrana, Alwar, Rajasthan, and for general corporate purposes.
Sky’s the Limit: Future Endeavors
With plans to expand its manufacturing facility in Neemrana, Alwar, Rajasthan, KRN is gearing up for some major growth. The allotment for the IPO will be finalized on September 30, with the company expected to be listed on both BSE and NSE by October 3.
Demand on the Rise
Shares of KRN are already flying off the shelves in the unlisted market, trading at a premium of 101%. This surge in demand indicates that the IPO is generating quite the buzz among investors.
Key Players in the Game
Leading the charge for KRN’s IPO is Holani Consultants Private Limited, serving as the sole book-running lead manager. With their expertise in the mix, KRN’s IPO is in good hands.
Inspiring Tale of Success
Santosh Kumar Yadav’s journey from a farmer’s son to the helm of a major manufacturing company is nothing short of inspiring. The IPO of KRN Heat Exchangers marks a significant milestone in Yadav’s entrepreneurial voyage and the company’s continued growth.
There you have it, folks! Stay tuned for more updates on this exciting IPO journey. Until next time, keep an eye on those trends and happy investing!
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