KRN Heat Exchanger and Refrigeration Ltd is a leading manufacturer of fin and tube-type heat exchangers. The company manufactures Copper and Aluminium fins and copper tubes heat exchangers, water coils, condenser coils, and evaporator coils. It manufactures heat exchanger tubes of different shapes and sizes from 5 mm diameter to 7 mm, 9.52 mm, 12.7 mm, and 15.88 mm. All the products offered are used in the domestic, commercial, and industrial Heating, Ventilation, air conditioning and refrigeration (HVAC&R) industry.
Daikin Airconditioning India Pvt Ltd, Schnieder Electric IT Business India Pvt Ltd, Kirloskar Chillers Private Ltd, Blue Star Ltd, Climaventa Climate Technologies Pvt Ltd and Frigel Intelligent Cooling Systems India Pvt Ltd are some of the prestigious customers. The company also export products overseas to countries including UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, and more.
Its manufacturing facility is situated in Neemrana, Rajasthan over an aggregated area of 7,800 sq. mt. The company uses the latest coil manufacturing machines including Hair Pin Bender, Fin Press Machine, CNC Tube Bender, and Vertical Expander.
Company’s History and Milestone:
2023
- Conversion of our Company from a private limited company to a public limited company and change of name of our Company from “KRN Heat Exchanger and Refrigeration Private Limited” to ” KRN Heat Exchanger and Refrigeration Limited”.
2022
- New lines added 25X21.65 mm in 9.52mm, 30.00 X26.0 mm in 12.7mm
- New Lines added featuring a 5/8″ diameter tube, specifically designed to cater Air Handling Unit (AHU) and industrial application business
- Acquired CE certification, to meet rigorous safety regulations for the European market
- Established our internal Brazing school, a dedicated initiative to enhance the skills of our brazing staff
- Appointed a dedicated sales representative in Europe.
2021
- New lines added featuring 5mm tube diameter
2020
- Company expanded its plant area to 7,800 Sq. Mt. by acquiring plot no. 46 and 47
- New line established with overhead crane for making 10M length coil
- Company established a dedicated facility equipped with EOT cranes to manufacture larger heat exchangers
2019
- Company started to export its products
2018
- Manufacturing started from June 2018 by installation of machinery
2017
- Company has established its Plant in October 2017
- Incorporation of our Company as a Private Limited company
IPO Details:
| Open Date | 25-09-2024 |
| Close Date | 27-09-2024 |
| Listing Date | 03-10-2024 |
| Issue Price (₹) | 209 to 220 |
| Issue Size (₹ Cr.) | 341.95 (Fresh Issue) |
| Lot Size | 65 |
| Apply or Not | Must Apply |
Company Financials:
| Period Ended | 31 Mar 2024 ( Amount in ₹ Crore ) |
| Assets | 258.36 |
| Revenue | 313.54 |
| Profit After Tax | 39.07 |
| Net Worth | 131.65 |
| Total Borrowing | 59.69 |
Objects of the Issue:
Invest in the wholly owned subsidiary, KRN HVAC Products Pvt Ltd for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan.
