Kalahridhaan Trendz Ltd IPO allotment on February 21: Steps to check status

Fabrics trading company Kalahridhaan Trendz Ltd is expected to announce the allotment of shares for its initial public offering (IPO) on Wednesday, February 21. The ₹22.49-crore Kalahridhaan Trendz IPO subscription successfully closed on Tuesday, February 20. The public issue was subscribed 8.16 times on the final day.

The company is likely to initiate refunds on February 22 and credit the shares to the demat accounts of the successful bidders on the same day. The Kalahridhaan Trendz shares are expected to be listed on the SME platform of NSE on February 23.

Here’s how to check Kalahridhaan Trendz Ltd IPO allotment status

The subscribers can check the share allotment status on NSE website and official portal of the registrar, Bigshare Services Pvt Ltd. The successful bidders will be notified about the share allotment through SMS and email.

Steps to check IPO share allotment status on NSE website

The bidders can check Kalahridhaan Trendz share allotment by following a few easy steps:

• Go to the NSE website: https://www.nseindia.com.
• Login with username and password.
• Select Kalahridhaan Trendz from the issue list.
• Verify PAN details and enter your IPO application number.
• Click on submit.

Steps to check Kalahridhaan Trendz IPO share allotment status on registrar’s website

The investors can also check the allotment status through the official website of registrar, Bigshare Services Pvt Ltd. Follow these steps to check allotment status:

• Open the website of the IPO registrar, Bigshare Services Pvt Ltd: https://ipo.bigshareonline.com/IPO_Status.html.
• Select Kalahridhaan Trendz from the dropdown list for companies.
• Select any one of these- application number, PAN or beneficiary ID.
• Enter details and click on ‘Submit’ to check share allotment status.

Kalahridhaan Trendz IPO subscription

The ₹22.49-crore public offer of Kalahridhaan Trendz received a good response from the investors on the final day of bidding on February 20.

The company had offered a total of 47,46,000 equity shares, with a face value of ₹10 each, aggregating to ₹21.35 crore. The market maker’s portion comprised 2,52,000 equity shares worth ₹1.13 crore. The price for the IPO was fixed at ₹45 per share.

According to the stock exchange data, bids for 4,07,79,000 equity shares were received at the close of the issue against the total issue size of 49,98,000 equity shares. The retail investors placed bids for 33,15,000 equity shares as against 23,73,000 shares set aside for them.

The non-retail investors, including the non-institutional investors (NIIs) placed bids for 20,37,000 equity shares against the reserved portion of 23,73,000 shares.

Kalahridhaan Trendz IPO details

Kalahridhaan Trendz IPO was a fresh issue of shares with no offer for sale (OFS) component. The IPO invited bids at a fixed price of ₹45 per share to raise around ₹21.35 crore from public shareholders.

The lot size of Kalahridhaan Trendz IPO was 3,000 shares amounting to a minimum investment of ₹1,35,000 for retail investors.

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.

Kalahridhaan Trendz is involved in manufacturing and trade of fabric with embroidery works, trading of grey cloths and printing and dyeing for preparing suiting, shirting and dress materials. The company undertakes the embroidery work for its own business as well as on behalf of the other clients