In a development largely awaited by investors who have applied for KRN Heat Exchanger and Refrigeration Limited IPO, the allotment status in that regard will be announced after the close of bidding process on 30 September 2024. The IPO has got much interest from NII, and the market is eagerly waiting to see if these investors have got their shares allotted.
The price band has been fixed at ₹209 to ₹220 per equity share, and the company would raise ₹341.95 cr cash as part of this public issue. Strong demand for the IPO, both in the retail and NII categories, has given an optimistic spin to the issue that can be reflected in the grey market premium (GMP) of the stock. Reports Mint the shares were trading at a premium of ₹253 in the grey market as of Friday.
As the date of allotment status declaration is approaching, it would be interesting to know how the allottees can check their KRN Heat Exchanger IPO allotment status online. Here is step by step explanation of the same, whether on NSE website or the site of the registrar, Bigshare Services Private Limited.
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How to Check KRN Heat Exchanger IPO Allotment Status on NSE
Investors can check the status of allotment in KRN Heat Exchanger IPO by logging to the official website of National Stock Exchange when the share allotments are done. To retrieve your allotment details, please follow the following guidelines:
Step 1: Going to the NSE Website
You will need to reach the official website of NSE. Look for the link to the IPO allotment status page.
Login to Account
If you have an account already on the NSE website then log in using your credentials. You are a new user so you need to make an account by getting registered with a valid e-mail ID and password.
Choose KRN Heat Exchanger IPO
After login, available list of IPO will be shown to you, look for KRN Heat Exchanger and Refrigeration Limited from the given list and choose it.
Add PAN Card Details
You will be asked to provide the Permanent Account Number (PAN) details. Please remember to input the same PAN you had filled-in, when you had applied for the IPO
Please put in the IPO Application Number. You would have obtained an IPO application number, when you had placed the IPO bid. Please ensure, you have it handy,
Check You’re Not a Robot
Other than this, the security procedure is also required; you need to tick the box labeled ‘I am not a robot’ to process the verification.
Submit and Status Status
All details must be filled in the application form and afterward, the application form can be submitted. After the complete allotment process, the status of the share holding will be displayed in the account. If the allotment has not been completed yet, then check later when the allotment would have been completed.
This is very important: you can see the allotment status only after the final closure of the share allotment process by KRN Heat Exchanger.
Step for checking the allotment status of KRN Heat Exchanger’s IPO on the website of the registrar
Apart from NSE website, you can also check on the IPO registrar’s official website Bigshare Services Private Limited – this registrar has been accredited for conducting allotment by the KRN Heat Exchanger IPO. To check on the registrar’s portal, please refer to the below-mentioned steps:
Visit Bigshare Services Website
Access the official site of Bigshare Services website, which is the authorized registrar for this IPO.
Select IPO Name
Choose the IPO name for which you would like to get your allotment status from the dropdown list. Here in this case, I’ve chosen the name of KRN Heat Exchanger and Refrigeration Limited IPO.
Enter Detail
There are three options. Therefore, fill one of the options: Application number, beneficiary ID or PAN. Application Number: This is the unique number issued to you at the time of applying through the bidding process. Beneficiary ID: It’s the ID allocated to your Demat account. PAN: It’s Permanent Account Number, used while applying for an IPO.
So, choose the information you have with you and fill in the form accordingly.
Enter Captcha Code
There will be a displayed captcha code on the page for security. Type in the word that is being displayed as your captcha. It should be typed just like it has been displayed.
Search for Allotment Status
After filling in the correct details, click on the Search tab. Once this process is done, your allotment status will be displayed on the website.
It is the surest way to find out that you have been allocated shares as a part of the KRN Heat Exchanger IPO.
KRN Heat Exchanger IPO: All About
Though it has been mentioned earlier, Bigshare Services Private Limited is the registrar to the KRN Heat Exchanger IPO. They will take care of the allotment and refund issues. For example, under the “T+3” rule, meaning listing three days after the allotment of the IPO is through, the securities are expected to be listed on October 3, 2024, on the stock exchanges. Nevertheless, investors must note that October 2 will be Mahatma Gandhi Jayanti, a national holiday in India, and can be presumed to list the next working day.
Other important highlights from the KRN Heat Exchanger IPO:
IPO Price Band: ₹209 to ₹220 per equity share.
IPO Issue Size: ₹341.95 crore.
Listing Date: October 3, 2024, since that is a T+3 day and October 2 is a holiday.
Registrar: BIG SHARE SERVICES PRIVATE LIMITED.
Market Sentiment: The IPO has fetched tremendous demand from the retail and NII investors, and thus, there is every prospect of gleaming listing of the share. The GMP stands at ₹253 and hence, it is evident that grey market investors will not sell cheaply without making even inflationary gains over and above the issue price. Therefore, in this respect also listing gains may be there in the IPO.
Important Dates and Timeline
Last Date of Bidding : September 30, 2024.
Share Allotment Status: The share allotment status is anticipated to be completed by or before September 30, 2024.
Refund: If the shares are not allotted to investors in an IPO, their refund will be issued after the confirmation of the share allotment status.
Listing Date: The listing date is also expected on October 3, 2024, on both the BSE and NSE.
Grey Market Premium and Investor Sentiment
GMP or grey market premium is a semi-official indication of the IPO performance on the list date. So, for KRN Heat Exchanger, as on the last update, shares were trading at ₹253 on the grey market premium. It shows that sentiments in the market are positive about the IPO, and shares on the list date will most probably open with a premium from the issue price.
Conclusion
The price band for the KRN Heat Exchanger IPO is ₹209 to ₹220. Demand from investors has been quite huge on this IPO as well, going by the prospects of the company and the market sentiments in general. The total amount of ₹341.95 crore will be raised through this book-built issue. The status update for allotments will be available for investors by September 30, 2024, and the shares may list on stock exchanges by October 3, 2024.
Investors can check the allotment status through either of the NSE’s or the registrar Bigshare Services websites. Make sure you have your PAN, application number, or beneficiary ID; with those details, you can apply the steps above to know the allotment status. Given the gray market premium is steep, KRN Heat Exchanger’s IPO could see major gains on listing.