KRN Heat Exchanger, based in Rajasthan, specializes in manufacturing fin and tube-type heat exchangers for the heating, ventilation, air conditioning, and refrigeration (HVAC&R) industry.

KRN Heat Exchanger And Refrigeration Limited was founded in August 2017. It manufactures heat exchangers in various shapes and sizes, depending on customer requirements and/or market demand.

Its manufacturing facility is situated in Neemrana, Rajasthan, over an aggregated area of 7,800 sq. mt. 

Product Offered by KRN Heat Exchanger

The company offers a wide range of products like:  

  1. Copper tubes: Aluminum or copper fins 
  2. Fin spacing: Anti-corrosion coated fins
  3. Painted coils
  4. Standard and customized coils in any dimension and capacity.


KRN Heat Exchanger IPO Objectives

Invest in the wholly owned subsidiary, KRN HVAC Products Pvt Ltd for setting up a new manufacturing facility at Neemrana, Alwar, Rajasthan, and general corporate purposes.

IPO DateSeptember 25, 2024 to September 27, 2024
Listing DateThursday, October 3, 2024 (Tentative)
Face Value₹10 per share
Price Band₹209 to ₹220 per share
Lot Size65 Shares
Total Issue Size15,523,000 shares (aggregating up to ₹341.51 Cr)
Fresh Issue15,523,000 shares (aggregating up to ₹341.51 Cr)
Offer for SaleNil

KRN Heat Exchanger Financials

Here are the financial details of the company:

Period Ended31 Mar 202431 Mar 202331 Mar 2022
Revenue313.54249.89158.23
Profit After Tax39.0732.3110.59

Note: In ₹ Crore

Product Revenue Mix

ProductAmount (FY 23-24, Consolidated)% of total revenue (FY 23-24)
Evaporator Coils11,558.7037.49%
Condenser Coils17,029.5755.24%
Headers/Copper Parts467.811.52%
Sheet Metal Parts14.100.05%
Other Operating Revenue*1,758.135.70%
Total Revenue30,828.31100.00%

Imports vs Exports

Domestic Sales85.32%
Exports14.68%

Which countries does KRN Heat Exchange export their products to? 

The company also export products overseas to countries including UAE, USA, Italy, Saudi Arabia, Norway, Czech Republic, Germany, UK, and more

Clients of KRN Heat Exchange

  • Daikin Airconditioning India Pvt Ltd
  • Schnieder Electric IT Business India Pvt Ltd 
  • Kirloskar Chillers Private Ltd, Blue Star Ltd
  • Climaventa Climate Technologies Pvt Ltd 
  • Frigel Intelligent Cooling Systems India Pvt Ltd 

Key Strengths of KRN Heat Exchange

These are a few of the strengths of the company:

  • Over 20+ years of industry experience
  • Long‐standing business relationships with leading clients
  • The promoters have a strong leadership personality and are supported by a highly experienced management team
  • Effective quality controls
  • Consistent financial performance
  • Established production facility
  • Offers a wide variety of product range