KRN Heat in limelight

KRN Heat Exchanger and Refrigeration today said its wholly owned subsidiary, KRN HVAC Products Private Limited, has signed a Business Transfer Agreement to acquire the Bus Air-Conditioning division of Sphere Refrigeration Systems Pvt. Ltd. The acquisition will bring all related operations, assets and employees under KRN HVAC, expanding KRN’s footprint across transport and mobility cooling while strengthening its systems portfolio beyond coils and heat exchangers.

KRN traded around the mid-Rs.860s–Rs.880s band during the session. Live trackers showed today’s intraday high/low near Rs.891.8/Rs.843.8, with the 52-week range at Rs.1,011.6/Rs.402.4. Investors priced in portfolio expansion and cross-sell synergies into OEM and aftermarket channels.

Management said the bus HVAC entry adds a higher-value systems line to KRN’s mix and positions the company to benefit from rising air-conditioned public transport and e-bus adoption. Integration focus areas will include order-win cadence, localization and margin capture across design, production and distribution.

Integration pace, order win cadence in ongoing CESL/state tenders, and localization of critical sub-assemblies will be key KPIs. Market growth is healthy but contingent on tender timelines and depot/charging readiness in some cities.

The company had got listed on 3rd Oct 2024 at Rs.470 on the BSE v/s IPO price of Rs.220.