KRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding Outcome of Board Meeting held on March 13, 2026.
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The Board of KRN Heat Exchanger and Refrigeration approved raising up to ₹500 crore through a Qualified Institutions Placement (QIP) by issuing equity shares, subject to shareholder and regulatory approvals. The QIP may be carried out in one or more tranches at prices permitted under applicable law. The Board also approved the re-appointment of Mr. Santosh Kumar Yadav as Chairman and Managing Director and Mrs. Anju Devi as Whole-time Director, both for a 5-year term effective May 9, 2026. Both are promoter directors and have served on the board since the company's incorporation. An Extra-Ordinary General Meeting (EGM) has been scheduled for April 15, 2026 to seek shareholder approval for these matters. The trading window remains closed until March 15, 2026.
The ₹500 crore QIP may lead to equity dilution for existing shareholders, but provides growth capital for expansion. Re-appointment of both promoter directors ensures leadership continuity, which is generally a positive signal for long-term investors.