KRN Heat Exchanger EGM on April 15: Director Re-appointments and ₹500 Crore QIP
KRN Heat Exchanger and Refrigeration Limited has scheduled its Extra-Ordinary General Meeting for April 15, 2026 through video conferencing to address critical corporate matters. The agenda includes re-appointing key executives Mr. Santosh Kumar Yadav and Mrs. Anju Devi for five-year terms with specified remuneration packages, implementing an Employee Stock Option Plan covering 6,00,000 shares, and most significantly, raising up to ₹500 crore through a Qualified Institutions Placement to fund capital expenditure, working capital needs, debt repayment, and growth opportunities across the company and its subsidiaries.
*this image is generated using AI for illustrative purposes only.
KRN Heat Exchanger and Refrigeration Limited has scheduled its Extra-Ordinary General Meeting (EGM) for Wednesday, April 15, 2026 at 03:00 PM IST through Video Conferencing and Other Audio Visual Means (VC/OAVM). The meeting will address significant corporate governance matters including director re-appointments, employee stock option plan implementation, and a major fundraising initiative.
Meeting Details and Compliance
The EGM will be conducted entirely through digital means without requiring physical presence at a common venue, in compliance with MCA General Circular No. 03/2025. The company has fulfilled its disclosure obligations under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
| Meeting Parameters: | Details |
|---|---|
| Date: | April 15, 2026 |
| Time: | 03:00 PM IST |
| Format: | Video Conferencing/OAVM |
| Cut-off Date: | April 8, 2026 |
| Remote E-voting Period: | April 12-14, 2026 |
Key Business Resolutions
Director Re-appointments
The EGM will consider the re-appointment of two key executives for five-year terms effective May 9, 2026:
Mr. Santosh Kumar Yadav as Chairman and Managing Director with monthly remuneration of ₹7,50,000 plus benefits including company-maintained car, mobile expense reimbursement, and insurance coverage.
Mrs. Anju Devi as Whole-Time Director with monthly remuneration of ₹5,00,000 plus similar employment benefits.
| Executive Details: | Mr. Santosh Kumar Yadav | Mrs. Anju Devi |
|---|---|---|
| Position: | Chairman & Managing Director | Whole-Time Director |
| Monthly Salary: | ₹7,50,000 | ₹5,00,000 |
| Term: | 5 years from May 9, 2026 | 5 years from May 9, 2026 |
| Experience: | 20+ years in heat exchangers | HR and operations expertise |
Employee Stock Option Plan 2026
The company proposes to implement the KRN Employee Stock Option Plan 2026 (ESOP Plan) covering up to 6,00,000 equity shares of ₹10 face value each. The plan aims to align employee interests with shareholder value and retain key talent across the organization and its subsidiaries.
| ESOP Plan Features: | Specifications |
|---|---|
| Total Options: | 6,00,000 equity shares |
| Face Value: | ₹10 per share |
| Minimum Vesting Period: | 1 year from grant date |
| Maximum Vesting Period: | 5 years from grant date |
| Exercise Period: | 3 years from vesting date |
| Exercise Price: | Minimum 50% of closing price on grant date |
Major Fundraising Initiative
The most significant resolution involves raising up to ₹500 crore through a Qualified Institutions Placement (QIP) of equity shares. This fundraising initiative will support the company's expansion and growth strategies across multiple business areas.
Fund Utilization Objectives
The proceeds from the QIP will be deployed towards:
- Capital expenditure for existing and new manufacturing facilities
- Working capital requirements for the company and subsidiaries
- Repayment or prepayment of existing debt obligations
- Funding organic and inorganic growth opportunities
- General corporate purposes (limited to 25% of total funds)
| QIP Parameters: | Details |
|---|---|
| Maximum Amount: | ₹500 crore |
| Completion Timeline: | Within 365 days of approval |
| Eligible Investors: | Qualified Institutional Buyers (QIBs) |
| Lock-in Period: | 1 year from allotment date |
| Pricing: | Per SEBI ICDR Regulations with up to 5% discount |
Shareholder Participation
Shareholders can participate in the EGM through the NSDL e-voting platform, with remote e-voting available from April 12-14, 2026. The company has appointed Mr. Deepak Arora of Deepak Arora & Associates as Scrutinizer to oversee the voting process.
Members wishing to ask questions during the meeting must register as speakers by April 8, 2026, by contacting investors@krnheatexchanger.com with their demat account details.
Document Availability
The EGM notice and related documents are available on the company website at www.krnheatexchanger.com , as well as on NSE ( www.nseindia.com ), BSE ( www.bseindia.com ), and NSDL e-voting portal ( www.evoting.nsdl.com ).
Company Secretary Jitendra Kumar Sharma signed the official communication confirming that all regulatory requirements have been met for the upcoming EGM proceedings.
Source: Company/INE0Q3J01015/d13c0901-c2b3-435b-8e3e-83015ee65654.pdf
Historical Stock Returns for KRN Heat Exchanger and Refrigeration
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.23% | +0.16% | -11.32% | +3.59% | -1.12% | +85.14% |
How will the ₹500 crore QIP fundraising impact KRN's market valuation and competitive positioning in the heat exchanger industry?
What specific manufacturing capacity expansion plans does KRN have that would justify this significant capital raise?
Could the new ESOP plan signal KRN's preparation for potential acquisitions or major talent retention challenges?
15
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
