This stock rallied 500% in four months. Now, its aiming for 6X revenue by 2029.
Subscribe to enjoy similar stories. KRN Heat Exchanger, a small but ambitious industrial player, made a remarkable debut with its initial public offering (IPO)—oversubscribed 213 times—raising ₹342 crore. Impressively, it debuted at ₹480 per share, a premium of 118%.
Even more striking, its share price has jumped another 100% in just over four months, continuing to attract attention. Moreover, it's up about 500% from its IPO price of ₹200-210. The funds raised are strategically invested to fuel the company’s aggressive expansion plans.
KRN aims to grow its revenue sixfold by 2029, backed by a robust pipeline of orders and expansion in domestic and export markets. This rapid rise reflects strong investor optimism, but it also raises the question: Can the company sustain this momentum as it embarks on its ambitious growth plans, including a target to increase revenue sixfold by 2029? Every industry that deals with heat—whether it’s an oil refinery, a power plant, or an air conditioning system—relies on heat exchangers to keep things running smoothly. These machines quietly regulate temperature, humidity, and air purity, preventing overheating and improving energy efficiency.
There are four main types of heat exchangers, each playing a specific role: Shell and tube exchangers: The backbone of the oil, gas, and chemical industries, handling high temperatures and pressures. These dominate the market, making up 53% of India's heat exchanger industry (CY2023). Finned tube exchangers: Used in the heating, ventilation, and air conditioning and refrigeration industry (HVAC&R), these systems regulate temperature, humidity, and air quality across residential, commercial, and industrial settings.
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