KRN Heat Exchanger IPO vs Western Carriers (India) IPO

Comparision between KRN Heat Exchanger IPO and Western Carriers (India) IPO.

IPO Details

KRN Heat Exchanger IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Western Carriers (India) IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	KRN Heat Exchanger IPO	Western Carriers (India) IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	Holani Consultants Private Limited	Jm Financial Limited Kotak Mahindra Capital Company Limited
Registrar	Bigshare Services Pvt Ltd	Link Intime India Private Ltd
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of KRN Heat Exchanger IPO is up to ₹341.95 Cr whereas the issue size of the Western Carriers (India) IPO is up to ₹492.88 Cr. The final issue price of KRN Heat Exchanger IPO is ₹220.00 per share and of Western Carriers (India) IPO is ₹172.00 per share.

	KRN Heat Exchanger IPO	Western Carriers (India) IPO
Face Value	₹10 per share	₹5 per share
Issue Price (Lower)	₹209.00 per share	₹163.00 per share
Issue Price (Upper)	₹220.00 per share	₹172.00 per share
Issue Price (Final)	₹220.00 per share	₹172.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	65 shares	87 shares
Fresh Issue Size	1,55,43,000 shares	2,32,55,813 shares
Fresh Issue Size (Amount)	up to ₹341.95 Cr	up to ₹400.00 Cr
OFS Issue Size		54,00,000 shares
OFS Issue Size (Amount)		up to ₹92.88 Cr
Issue Size Total	1,55,43,000 shares	2,86,55,813 shares
Issue Size Total (Amount)	up to ₹341.95 Cr	up to ₹492.88 Cr

IPO Timetable

KRN Heat Exchanger IPO opens on Sep 25, 2024, while Western Carriers (India) IPO opens on Sep 13, 2024. The closing date of KRN Heat Exchanger IPO and Western Carriers (India) IPO is Sep 27, 2024, and Sep 19, 2024, respectively.

	KRN Heat Exchanger IPO	Western Carriers (India) IPO
Anchor Bid Date	Sep 24, 2024	Sep 12, 2024
Issue Open	Sep 25, 2024	Sep 13, 2024
Issue Close	Sep 27, 2024	Sep 19, 2024
Basis Of Allotment (Tentative)	Sep 30, 2024	Sep 20, 2024
Initiation of Refunds (Tentative)	Oct 01, 2024	Sep 23, 2024
Credit of Share (Tentative)	Oct 01, 2024	Sep 23, 2024
Listing date (Tentative)	Oct 03, 2024	Sep 24, 2024
Anchor Lockin End date 1	Oct 30, 2024	Oct 19, 2024
Anchor Lockin End date 2	Dec 29, 2024	Dec 18, 2024

Financials

KRN Heat Exchanger IPO P/E ratio is 24.78, as compared to Western Carriers (India) IPO P/E ratio of 16.85.

KRN Heat Exchanger IPO

Western Carriers (India) IPO

Financial

KRN Heat Exchanger and Refrigeration Limited Financial Information (Restated Consolidated)

Period Ended	31 Mar 2024
Assets	258.36
Revenue	313.54
Profit After Tax	39.07
Net Worth	131.65
Total Borrowing	59.69
Amount in ₹ Crore

Western Carriers (India) Limited Financial Information (Restated Consolidated)

Western Carriers (India) Limited's revenue increased by 3% and profit after tax (PAT) rose by 12% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	754.01	604.14	490.33
Revenue	1,691.41	1,637.84	1,475.79
Profit After Tax	80.35	71.57	61.13
Net Worth	398.36	318.61	257.58
Reserves and Surplus	359.01	279.08	157.12
Total Borrowing	266	210.47	150.4
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

94.39%

99.99%

Promoter Shareholding (Post-Issue)

71.89%

P/E Ratio

24.78

16.85

Market Cap

₹1309.51 Cr.

₹1753.63 Cr.

ROE

40.86%%

22.41%%

ROCE

31.21%%

29.23%%

Debt/Equity

0.45

0.67

EPS

₹8.88

₹10.21

RoNW

29.68%%

20.17%%

Shares Offered

In the KRN Heat Exchanger IPO retail investors (RII) are offered 54,98,330 shares while in Western Carriers (India) IPO retail investors are offered 54,98,330 shares. Qualified institutional buyers (QIB) are offered 31,07,455 shares in KRN Heat Exchanger IPO and 57,31,163 shares in Western Carriers (India) IPO.

	KRN Heat Exchanger IPO	Western Carriers (India) IPO
Anchor Investor Reserveration	45,50,000 shares	85,96,743 shares
Market Maker Reserveration
QIB	31,07,455 shares	57,31,163 shares
NII	23,87,215 shares	42,98,372 shares
RII	54,98,330 shares	1,00,29,535 shares
Employee	0 shares	0 shares
Others
Total	1,09,93,000 shares	2,00,59,070 shares

Bids Received (Subscription)

KRN Heat Exchanger IPO subscribed 213.41x in total, whereas Western Carriers (India) IPO subscribed 31.69x.

	KRN Heat Exchanger IPO	Western Carriers (India) IPO
QIB (times)	253.04x	28.81x
NII (times)	430.54x	46.68x
Big NII (times)	445.31x	41.65x
Small NII (times)	401.01x	56.73x
RII (times)	96.74x	26.92x
Employee (times)
Other (times)
Total (times)	213.41x	31.69x

Compare with others

KRN Heat Exchanger IPO	Western Carriers (India) IPO
Garuda Construction and Engineering IPO	Diffusion Engineers IPO
Afcons Infrastructure IPO	Manba Finance IPO
Hyundai Motor IPO	KRN Heat Exchanger IPO
Diffusion Engineers IPO	Northern Arc Capital IPO
Manba Finance IPO	Arkade Developers IPO
Northern Arc Capital IPO	P N Gadgil Jewellers IPO
Arkade Developers IPO	Kross IPO
Western Carriers (India) IPO	Tolins Tyres IPO
P N Gadgil Jewellers IPO	Shree Tirupati Balajee IPO
Kross IPO	Gala Precision Engineering IPO

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