HVAC components maker Koolking Industries files IPO papers, plans to raise Rs 300 crore via fresh issue

The latest market report highlights that Koolking Industries India, a Punjab-based heating, ventilation, and air conditioning (HVAC) components manufacturer, has filed draft papers with the Securities and Exchange Board of India (SEBI) to mobilize funds through an initial public offering (IPO), including a fresh offering of Rs 300 crore.

Further, the promoters have proposed to sell up to 30.5 lakh shares through an offer-for-sale (OFS), according to the draft red herring prospectus (DRHP) filed on September 23.

The firm may additionally consider raising up to Rs 60 crore through a pre-IPO placement. If the pre-IPO placement is undertaken, the fresh offering size will be reduced to the extent of the amount boosted through the placement.

Incorporated in 2008, Koolking Industries operates through five manufacturing facilities across Punjab, Uttar Pradesh, Rajasthan, and Andhra Pradesh, with a total capacity of 41.92 crore units per annum across a wide range of products. The firm offers products for commercial and residential air conditioners, as well as the refrigeration industry.

The firm proposes to utilise Rs 138.4 crore of the net fresh offering proceeds to set up new manufacturing units at Malerkotla (Punjab), Sricity (Andhra Pradesh), and Ghiloth (Rajasthan).

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Further, Rs 14.5 crore will be utilised for the purchase of new machinery and equipment at existing manufacturing facilities, while Rs 60 crore will be used for working capital requirements. The remaining funds will be utilised for general corporate purposes.

Koolking Industries noted a earnings of Rs 33.2 crore for the year ended March 2026, up 22.4 percent from Rs 27.1 crore in the previous fiscal year. Topline rose 9 percent to Rs 526.7 crore from Rs 483.1 crore in the same period a year earlier.

Keynote Financial Services has been appointed as the merchant banker for managing the Koolking Industries India IPO.