KRN Heat Exchanger shines as its arm inks pact to acquire Bus Air-Conditioning division
KRN Heat Exchanger and Refrigeration is currently trading at Rs. 860.75, up by 34.50 points or 4.18% from its previous closing of Rs. 826.25 on the BSE.
The scrip opened at Rs. 848.00 and has touched a high and low of Rs. 891.80 and Rs. 843.80 respectively. So far 74946 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1011.60 on 06-Feb-2025 and a 52 week low of Rs. 402.40 on 07-Oct-2024.
Last one week high and low of the scrip stood at Rs. 891.80 and Rs. 821.00 respectively. The current market cap of the company is Rs. 5353.55 crore.
The promoters holding in the company stood at 70.79%, while Institutions and Non-Institutions held 8.42% and 20.80% respectively.
KRN Heat Exchanger and Refrigeration’s wholly owned subsidiary -- KRN HVAC Products has signed a Business Transfer Agreement (BTA) with Sphere Refrigeration Systems (SRSPL) to acquire Bus Air-Conditioning division.
Under this agreement, KRN HVAC Products will take over all operations, assets, and employees associated with SRSPL’s Bus Air-Conditioning business. Upon completion, the division will be fully integrated into KRN HVAC’s operations, expanding the company’s product portfolio across the transport and mobility cooling segment and contributing to the company’s growth in revenue, profitability, and market reach in the coming years.
This acquisition marks an important milestone in the company’s strategy to build a diversified HVAC business portfolio catering to industrial, commercial, and mobility applications.
KRN Heat Exchanger and Refrigeration manufactures fin and tube type heat exchangers for the Heat Ventilation Air Conditioning and Refrigeration Industry (HVAC&R).
