SME Updates     21-Feb-24
IPO News
NSE SME IPO of Kalahridhaan Trendz ends with subscription of 8 times
The offer received bids for 4.07 crore shares as against 49.98 lakh shares on offer.

The initial public offer (IPO) of Kalahridhaan Trendz received bids for 4,07,79,000 shares as against 49,98,000 shares on offer. The issue was subscribed 8.15 times.

The Retail Individual Investors (RIIs) category received bids for 2,45,94,000 shares. The Non-Institutional Investors (NIIs) category received bids for 1,61,55,000 shares. The Qualified Institutional Buyers (QIBs) category received bids for 30,000 shares.

The issue opened for bidding on 15 February 2024 and it closed on 20 February 2024. The price of the IPO was fixed at Rs 45 per share. The equity shares will list on NSE's SME platform.

The IPO comprised fresh issue of 49,98,000 shares. The promoter and promoter shareholding diluted to 68.24% from 96.22% pre-IPO.

The company intends to utilise the net proceeds for issue for working capital requirements and general corporate purpose.

Kalahridhaan Trendz is mainly engaged in the business of manufacturing and trading of fabric with embroidery works and printing and dyeing for preparing suiting, shirting and dress materials for sale it in the market. The company has two divisions, embroidery and knitting and dyeing and printing of cloths. As on 31 December 2023, the company employed has 12 permanent employees in various departments.

The company recorded revenue from operations of Rs 84.27 crore and net profit of Rs 4.78 crore for the period as on 30 September 2023.

Previous News
  NSE SME IPO of Kalahridhaan Trendz ends with subscription of 8 times
 ( SME Updates - IPO News 21-Feb-24   12:30 )
  NSE SME Kalahridhaan Trendz makes a decent listing
 ( Hot Pursuit - 23-Feb-24   12:15 )
  NSE SME IPO Of Kalahridhaan Trendz subscribed 1.07 times
 ( SME Updates - IPO News 15-Feb-24   17:11 )
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