Kalahridhaan Trendz IPO: Check GMP, subscription status on day 4, other key details to know

Kalahridhaan Trendz IPO has opened for subscription on Thursday, February 15, and will close on Tuesday, February 20. Kalahridhaan Trendz IPO price band has been set at ₹45 apiece. Kalahridhaan Trendz IPO lot size consists of 3,000 shares. Investors can bid for a minimum of 3,000 shares and in multiples thereof. The issue price is 4.5 times of the face value.

Kalahridhaan Trendz is primarily involved in the production and trade of fabric with embroidery works, trading of grey cloths, purchasing of grey cloth, and printing and dyeing for the preparation of suiting, shirting, and dress materials for sale in the B2B market exclusively, according to the Red Herring Prospectus (RHP).

Also Read: Kalahridhaan Trendz IPO: Price band, issue size, GMP, key details to know

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As per the RHP, the company's listed peers are SPL Industries Limited (with a P/E of 9.03), Kitex Garments Limited (with a P/E of 26.08), and Monte Carlo Fashion Limited (with a P/E of 10.84).

Between March 31, 2022, and March 31, 2023, Kalahridhaan Trendz Limited's profit after tax (PAT) climbed by 170.52% while its revenue increased by 0.14%.

Kalahridhaan Trendz IPO details

Kalahridhaan Trendz IPO, which is worth ₹22.49 crore, comprises a fresh issue of 4,998,000 equity shares with a face value of ₹10. This is a completely a fresh issue, and there is no offer-for-sale component.

The net proceeds of the issue will be used by the company for the following purposes: covering public issue expenses, general corporate purpose, and working capital requirements.

Bigshare Services Pvt Ltd is the issue's registrar, while Interactive Financial Services Ltd is the book running lead manager of the Kalahridhaan Trendz IPO, and Sunflower Broking is the market maker.

Tentatively, Kalahridhaan Trendz IPO basis of allotment of shares will be finalised on Wednesday, February 21, and the company will initiate refunds on Thursday, February 22, while the shares will be credited to the demat account of allottees on the same day following refund. Kalahridhaan Trendz share price is likely to be listed on NSE SME on Friday, February 23.

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Kalahridhaan Trendz IPO Subscription Status 

Kalahridhaan Trendz IPO subscription status is 8.15 times, so far, on day 4. The issue received positive response from retail investors who's portion set was subscribed 9.63 times, and non-institutional buyers who's portion set was subscribed 6.66 times, at 17:36 IST, according to data on chittorgarh.com.

The company has received bids for 3,86,79,000 shares against 47,46,000 shares on offer, at 17:36 IST, according to data on chittorgarh.com.

According to NSE data as of 17:00 IST on Thursday, February 15, 2024, bids were received for 53,52,000 shares of the Kalahridhaan Trendz IPO, compared to 49,98,000 shares on offer. The news article from Business Standard stated that 1.07% of the issue was subscribed.

On day 2, as per data available on chittorgarh.com, the issue was subscribed 1.76 times. Kalahridhaan Trendz IPO subscription status was 3.14 times, on day 3.

Kalahridhaan Trendz IPO GMP today

Kalahridhaan Trendz IPO GMP or grey market premium is +3. This indicates Kalahridhaan Trendz share price were trading at a premium of ₹3 in the grey market, according to www.investorgain.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Kalahridhaan Trendz share price is ₹48 apiece, which is 6.67% higher than the IPO price of ₹45.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Vibhor Steel Tubes IPO: Experts decode key reasons behind robust 300 times subscription ahead of allotment

Kalahridhaan Trendz IPO Review 

Kalahridhaan Trendz Limited IPO has received a "SUBSCRIBE for Long Term" recommendation from reputable stockbroker ProfitMart Securities. Over the past eight years, Kalahridhaan Trendz Limited has demonstrated a great ability to increase turnover and establish solid partnerships within the local textile sector, positioning the company for long-term success. The company's anticipated post-IPO net value of ₹39.41 crore, coupled with the considerable industry experience of its entrepreneurs and management team, makes it an appealing investment prospect for long-term investors.

Also Read: Vibhor Steel Tubes IPO allotment to be out soon; GMP rises, steps to check Vibhor Steel IPO allotment status

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.