New Delhi, June 2 -- KRN Heat Exchanger and Refrigeration recovered 6% from its day's low on Tuesday, 2 June after it announced that it has successfully completed its qualified institutions placement (QIP), raising nearly Rs.350 crore from institutional investors.

KRN Heat stock opened at Rs.1,050.70 and then fell 3.6% to its day's low of Rs.1,012.50. However, it later recovered around 8% to its day's high of Rs.1,092 on BSE.

While the stock has lost 17% in the last 1 month, it has added 18% in 3 months, 33% in 6 months and 42% in the last 1 year.

The company's Fund-Raising Committee approved the allotment of 33,01,886 equity shares of face value Rs.10 each at an issue price of Rs.1,060 per share, aggregating to Rs.34,999.99 lakh, acco...