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KRN Heat Exchanger and Refrigeration shares jumped 7.9 per cent on the BSE, logging an intraday high at ₹891.8 per share. At 11:01 AM, KRN Heat’s share price was trading 3.99 per cent higher at ₹859.2 per share on BSE. In comparison, the BSE Sensex was up 0.34 per cent at 82,071.22.
The market capitalisation of the company stood at ₹5,340.5 crore. Its 52-week high was at ₹1,011.6 per share and its 52-week low was at ₹402.4 per share.
Why were KRN Heat shares rising?
The buying on the counter came after the company signed a Business Transfer Agreement (BTA) with Sphere Refrigeration Systems Private Limited to acquire its bus air conditioning division.
Under this agreement, KRN Heat will take over all operations, assets, and employees associated with
Sphere Refrigeration’s bus air-conditioning business. Upon completion, the division will be fully integrated into KRN Heat’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.
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“This acquisition marks an important step in KRN’s continued growth and diversification. The addition of Sphere’s Bus Air-Conditioning business strengthens our presence in the automotive HVAC segment and supports our goal of becoming a complete solutions provider across industries,” said Santosh Kumar, chairman & managing director, KRN Heat Exchanger and Refrigeration.
KRN Heat Exchanger and Refrigeration Limited specialises in manufacturing aluminium and copper fin and tube heat exchangers, including water coils, condenser coils, and evaporator coils. Their products are widely used by original equipment manufacturers (OEMs) in the Heating, Ventilation, Air-Conditioning, and Refrigeration (HVAC&R) industry for heating, ventilation, air conditioning, and refrigeration applications. With a factory spanning 1,50,000 square feet, KRN produces over 1 million units annually, exporting around 23 per cent of its output.
The company is supported by a skilled engineering team with over 20 years of industry experience, focusing on creating customized, durable solutions that meet international quality standards. By building on their expertise, KRN focuses on product quality and manufacturing processes for reliable end-user solutions.
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