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The scrip was listed at Rs 47.15, a premium of 4.78% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.
The counter hit a high of Rs 49.50 and a low of Rs 47.15. About 24.12 lakh shares of the company changed hands at the counter.
Kalahridhaan Trendz's IPO was subscribed 8.15 times. 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 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.
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