Mukul Agrawal Backed Company Hits Upper Circuit; Announces Rs 235 Crore Investment; FII Stake Rises
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As FIIs raise their stake and the stock hits an upper circuit, KRN Heat Exchanger is backing its next phase of growth with a Rs 235.26 crore investment in its wholly owned subsidiary.
✨ Key Takeaways
KRN Heat Exchanger and Refrigeration Ltd has approved an investment of Rs 235.26 crore in its wholly owned subsidiary, KRN HVAC Products Private Ltd (KHPL), to support the subsidiary's working capital requirements.
The approval was granted by the Board Finance Committee on June 9, 2026. The investment is linked to the funds raised through the company's Qualified Institutions Placement (QIP).
Under the transaction, KRN Heat Exchanger will subscribe to 78,41,917 equity shares of KHPL at an issue price of Rs 300 per share. The issue price comprises a face value of Rs 10 per share and a securities premium of Rs 290 per share.
The company said the investment will be made through cash consideration and is expected to be completed within one month.
KHPL is a wholly owned subsidiary of KRN Heat Exchanger. During FY26, the subsidiary reported revenue of Rs 218.85 crore.
FII Holding Sees Increase
Foreign institutional investors (FIIs) have increased their stake in KRN Heat Exchanger and Refrigeration Ltd, signalling growing institutional interest in the company.
As per the latest shareholding data, FII ownership rose to 6.66 per cent as of March 31, 2026, from 5.31 per cent in the previous quarter.
Mukul Agrawal's Holding in KRN Heat Exchanger
Ace investor Mukul Agrawal held a 1.61 per cent stake in KRN Heat Exchanger and Refrigeration Ltd as of March 31, 2026, according to the latest shareholding data.
About KRN Heat Exchanger and Refrigeration Ltd
KRN Heat Exchanger and Refrigeration Ltd, formerly known as KRN Heat Exchanger and Refrigeration Private Ltd, was incorporated in 2017.
The company and its subsidiaries manufacture and sell heating, ventilation and air conditioning (HVAC) components and accessories. Its product portfolio includes precision-engineered aluminium and copper fin heat exchangers, water coils, condensers and evaporator coils.
KRN operates two manufacturing facilities located in Neemrana, Rajasthan.
KRN Heat Exchanger Share Price Performance
KRN Heat Exchanger share price hit Rs 1,232 on Tuesday, gaining Rs 58.60 during the session. The stock was locked in the Upper Circuit of 4.99 per cent.
The stock has delivered a return of 11.53 per cent over the past one week.
Its performance in 2026 has remained strong, with gains of 65.62 per cent on a year-to-date basis. Over the past one year, the stock has advanced 63.44 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.