KRN Heat Exchanger: QIP Proceeds Utilized as per Plan

KRN Heat Exchanger and Refrigeration Ltd has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. Issued by Crisil Ratings Limited, the report confirms that the utilization of Qualified Institutional Placement (QIP) proceeds was in line with the objects disclosed in the offer document. The QIP raised gross proceeds of ₹34,999.99 lakhs and net proceeds of ₹34,179.48 lakhs. The funds were primarily used for repayment of borrowings and working capital requirements. The company has also uploaded the report on its website.