KRN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crisil Ratings Limited, the Monitoring Agency for KRN Heat Exchanger and Refrigeration Limited's IPO, has submitted its report for Q4 FY26 (quarter ended March 31, 2026). The company raised Rs 34,194.60 lakhs through its IPO in December 2024. As of March 31, 2026, Rs 33,847.32 lakhs (99.18%) has been utilized out of the total issue proceeds. The main object of investment in wholly owned subsidiary KRN HVAC Products Private Limited for setting up a new manufacturing facility at Neemrana has seen Rs 23,304.05 lakhs deployed out of Rs 23,575.66 lakhs allocated. General Corporate Purposes amount of Rs 7,536 lakhs has been fully utilized. The remaining unutilized amount of Rs 347.28 lakhs is parked in an FD with HDFC Bank (Rs 75.67 lakhs) and the subsidiary's current account (Rs 271.61 lakhs). The report acknowledges a delay in implementation due to imported machines being in transit, but states this is expected to be utilized in subsequent fiscal years.
The IPO proceeds are being utilized largely as per the disclosed objects with no material deviations observed. The delay in machinery delivery for the new manufacturing facility is a minor concern but has been adequately explained. The company remains on track to complete the project, with the remaining Rs 347.28 lakhs available for deployment.