KHPL is currently engaged in the business of manufacturing of Heat Exchanger and other HVAC Products. Its turnover was Rs 218.85 crore in FY26.

The investment will be made through the subscription of 78,41,917 equity shares of KHPL at an issue price of Rs 300 per share, comprising a face value of Rs 10 and a securities premium of Rs 290 per share.

The company stated that the investment is linked to the proceeds raised through its Qualified Institutions Placement (QIP) and will be utilized by KHPL to fund its working capital requirements.

KRN Heat Exchanger and Refrigeration specializes in manufacturing aluminium and copper fin and tube heat exchangers, including water coils, condenser coils, and evaporator coils. Their products are widely used by OEMs in the HVAC&R industry for heating, ventilation, air conditioning, and refrigeration applications.

The company’s consolidated net profit jumped 57.2% to Rs 23.36 crore on 36.48% rise in revenue from operations to Rs 179.47 crore in Q4 FY26 over Q4 FY25.