Corporate Governance12 Aug 2026, 06:11 pm
KRN Heat Exchanger: No Deviation in IPO Fund Utilization
AI Summary
KRN Heat Exchanger and Refrigeration Limited has confirmed no deviation or variation in the utilization of funds raised through its Initial Public Offer (IPO). The statement, reviewed by the Audit Committee for the quarter ended June 30, 2026, indicates that all funds raised amounting to ₹341.94 Crore were utilized as per the original objects. Key allocations include investment in a wholly-owned subsidiary for a new manufacturing facility and general corporate purposes, with no discrepancies noted.
Key Highlights
- No deviation reported in IPO fund utilization.
- Funds raised: ₹341.94 Crore.
- Utilization reviewed by Audit Committee.
- Investment in subsidiary for manufacturing facility.
- No variation in original objects or amounts.
Price Impact
More from KRN
More in Corporate Governance