Multibagger listing for KRN Heat Exchanger: Should you hold or book profit?

KRN Heat Exchanger and Refrigeration Limited made a stellar debut on Dalal Street, with its shares listing at Rs 481, representing a massive 118% premium over the issue price of Rs 220.
This multibagger listing has left investors with a key question: should they hold or book profits?
The IPO, which saw a staggering subscription of 213.41 times, demonstrated strong market demand, particularly from institutional and retail investors alike.
Such overwhelming interest was driven by KRN’s position as a leading manufacturer of fin and tube-type heat exchangers, primarily used in the heating, ventilation, air conditioning, and refrigeration (HVAC&R) industry.
The company is known for its adherence to international quality standards and its ability to offer quick turnaround times, which has helped cement strong relationships with major clients.
Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., believes that KRN’s strong fundamentals and market positioning make it an attractive long-term investment.
“KRN Heat Exchangers’ expertise in fin and tube-type heat exchangers for HVAC&R applications, coupled with international quality standards, positions it well for growth,” she said.
Nyati also pointed to the company’s consistent revenue and profitability growth as further reinforcement of its potential.
While KRN’s valuation at the time of the IPO appeared reasonable, Nyati acknowledged that drawing direct comparisons is challenging, given the lack of listed peers in the same sector. Despite this, she advised investors to take a balanced approach.
“Investors may book a portion of the profit and keep the remaining amount because of KRN Heat Exchangers’ excellent fundamentals and market demand,” she recommended.
This approach will allow investors to secure immediate returns from the multibagger listing while maintaining exposure to potential future growth.
Given the company’s consistent performance and industry leadership, holding a portion of the stock could be a strategic move for those looking for long-term gains.
(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)