Mumbai, October 7 (Udaipur Kiran): Shares of KRN Heat Exchanger and Refrigeration gained over 4% after its wholly owned subsidiary, KRN HVAC Products, signed a Business Transfer Agreement (BTA) with Sphere Refrigeration Systems (SRSPL) to acquire its Bus Air-Conditioning division.
The stock is currently trading at ₹860.75, up ₹34.50 or 4.18% from its previous close of ₹826.25 on the BSE. It opened at ₹848.00 and touched an intraday high of ₹891.80 and a low of ₹843.80. So far, 74,946 shares have been traded. The company’s market capitalization stands at ₹5,353.55 crore.
Over the past 52 weeks, the stock has recorded a high of ₹1,011.60 (February 6, 2025) and a low of ₹402.40 (October 7, 2024). Promoter holding stands at 70.79%, while institutions hold 8.42% and non-institutional investors 20.80%.
Under the agreement, KRN HVAC Products will take over all operations, assets, and employees of SRSPL’s Bus Air-Conditioning business. After completion, the division will be fully integrated into KRN HVAC’s operations, expanding its product portfolio across the transport and mobility cooling segment. The move is expected to boost revenue, profitability, and market reach in the coming years.
This acquisition marks a key milestone in KRN’s strategy to build a diversified HVAC portfolio, catering to industrial, commercial, and mobility applications.
KRN Heat Exchanger and Refrigeration is engaged in the manufacturing of fin and tube-type heat exchangers for the HVAC&R industry.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
KRN Heat Exchanger Rises 4% as Subsidiary Acquires Bus Air-Conditioning Division
