Corporate Governance29 Oct 2026, 05:41 pm
KRN Heat Exchanger: No Deviation in QIP Fund Use
AI Summary
KRN Heat Exchanger and Refrigeration Limited has confirmed no deviation or variation in the utilization of funds raised through its Qualified Institutional Placement (QIP) issue. The company raised INR 349.99 Crore on June 1, 2026. The funds were allocated towards repayment of borrowings (₹3,000.00 Lacs), investment in its subsidiary KRN HVAC Products Private Limited for working capital (₹23,525.75 Lacs), and general corporate purposes (₹7,653.73 Lacs). The Audit Committee has reviewed the utilization report for the quarter ended September 30, 2026, and found no discrepancies.
Key Highlights
- No deviation reported in QIP fund utilization.
- Funds raised via QIP amounted to INR 349.99 Crore.
- Allocations include debt repayment and subsidiary investment.
- Audit Committee reviewed and approved the fund utilization.
- Report covers the quarter ended September 30, 2026.
Price Impact
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