Promoters & Mukul Agrawal Trim Stakes In High-PE Multibagger Thermal Solutions Stock; Check Details

Indian equity benchmarks traded higher on Friday, with the benchmark Nifty 50 index gaining 209.20 points, or 0.90 per cent, to 23,370.80. Amid the positive market sentiment, KRN Heat Exchanger share price traded at Rs 1,252.90, up 4.30 per cent during the session.

Promoters Sell 10 Lakh Shares Through OFS

According to a regulatory disclosure, promoters Santosh Kumar Yadav and Anju Devi sold a total of 10 lakh equity shares, representing 1.52 per cent of the company's paid-up equity capital, through an open market sale on June 9, 2026.

Santosh Kumar Yadav sold 5 lakh shares, reducing his stake from 31.01 per cent to 30.25 per cent, while Anju Devi sold 5 lakh shares, lowering her holding from 36.21 per cent to 35.44 per cent.

KRN Heat Exchanger Promoter Holding Falls To 65.69 per cent 

Following the transaction, the combined promoter shareholding declined from 67.22 per cent to 65.69 per cent, reflecting a reduction of 1.52 percentage points. The transaction was executed through an Offer For Sale (OFS) route.
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FII Stake Continues To Rise Stake In KRN Heat Exchanger

Despite the promoter stake sale, foreign institutional investors continued to increase their exposure to the company.

FII holding rose to 8.37 per cent in June 2026 from 6.66 per cent in March 2026, indicating sustained institutional interest in the stock.

Meanwhile, DII ownership also increased to 8.64 per cent from 6.39 per cent during the same period.

Ace Investor Mukul Agrawal Trims Stake

Ace investor Mukul Mahavir Agrawal marginally reduced his stake in the company during the March 2026 quarter.

His holding declined from 1.61 per cent in Q3 FY26 to 1.53 per cent in Q4 FY26, though he continues to remain a shareholder in the company.

About KRN Heat Exchanger

KRN Heat Exchanger and Refrigeration Limited is engaged in the manufacturing of heat exchangers, condenser coils, evaporator coils and related refrigeration products used across HVAC and industrial cooling applications. With a market capitalisation of Rs 8,163 crore and a PE ratio of 107 times, KRN Heat Exchanger continues to trade at premium valuations compared to many peers in the sector.

The company serves domestic and international customers and benefits from increasing demand across commercial air-conditioning, industrial refrigeration and data centre cooling infrastructure segments.

What are your thoughts on the rising institutional participation in KRN Heat Exchanger despite the recent promoter stake sale? Share your views in the comments below.
Disclaimer: The article is for informational purposes only and not investment advice.