Kalahridhaan Trendz IPO fully subscribed on day 1: Check issue size, price band, dates and key details

Fabrics trading company Kalahridhaan Trendz Ltd IPO is getting a good response from the investors as the maiden public issue was fully subscribed on day one. The ₹22.49-crore initial public offering (IPO) opened for subscription on Thursday, February 15.

The Kalahridhaan Trendz IPO subscription will remain open from February 15 to February 20. According to the data available on the National Stock Exchange of India (NSE) the IPO was subscribed 1.07 times on the first day. The Kalahridhaan Trendz Ltd IPO received bids for 53.52 lakh shares as against 49.98 shares on offer.

If you are also looking forward to subscribe the IPO here are the key details about the SME public issue:

Kalahridhaan Trendz IPO price band, offer size, lot size and minimum investment

The initial public offering of Kalahridhaan Trendz comprises a fresh issue of 49,98,000 equity shares. The company looks to raise a total of ₹22.49 crore through the issue.

The company will utilise the IPO proceeds for financing working capital needs of ₹16.07 crore and meet other general corporate requirements of ₹5.35 crore besides meeting IPO-related expenses.

Of the total number of shares, 2,52,000 equity shares aggregating to ₹ 1.13 crore have been reserved for market makers to the issue.

Kalahridhaan Trendz is promoted by Niranjan Agarwal, Aditya Agarwal and Sunitadevi Agarwal. Promoters hold around 96.22% of the stake in the company pre-issue which will come down to 68.24% after the issue. Its public shareholders include Vaxtex Cotfab Limited which holds 2.52% stake pre-issue and Mayadevi Kabra with 1.26% stake.

The price band for the issue has been fixed at ₹45 per share. The company has set aside 23,73,000 equity shares aggregating to ₹10.67 crore for retail investors and an equal number of shares worth ₹10.67 crore as non-retail portion.

The Kalahridhaan Trendz IPO lot size consists of 3,000 shares. Investors can bid for a lot of 3,000 or multiple of these shares. The minimum investment in the IPO will be ₹1,35,000.

The issue and the net issue will constitute 29.08% and 27.61%, respectively, of the post issue paid up equity share capital of the company.

Kalahridhaan Trendz IPO allotment date

Kalahridhaan Trendz is expected to announce the share allotment on February 21 (Wednesday). The shares will be listed on NSE Emerge platform on February 23, 2024.

About Kalahridhaan Trendz

Kalahridhaan Trendz is primarily involved in manufacturing and trade of fabric with embroidery works. It is also in the business of trading of grey cloths and printing and dyeing for preparing suiting, shirting and dress materials.

The company undertakes embroidery work for its own business as well as on behalf of the other clients. It also gets embroidery work out sourced. It has two embroidery knitting machines having a capacity of 15,000 metres per day.

The company has also taken over the textile dyeing and printing business unit on rent basis in February 2018 for carrying out the dyeing and printing of suiting, shirting and dress materials.

The company reported total revenue of ₹184.16 crore in FY23 as against ₹183.90 crore in the previous financial year. It reported a net profit of ₹6.66 crore for FY23 against ₹2.46 in FY22.

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