Kalahridhaan Trendz share price makes a tepid debut, stock opens with a mere 4.8% premium at ₹47.15 apiece on NSE SME

Kalahridhaan Trendz share price made a lukewarm debut on NSE SME today. On NSE SME, Kalahridhaan Trendz share price opened at ₹47.15, which is 4.8% higher than the issue price of ₹45.

Kalahridhaan Trendz IPO opened for subscription on Thursday, February 15, and closed on Tuesday, February 20. Kalahridhaan Trendz IPO price band was set at ₹45 apiece. Kalahridhaan Trendz IPO lot size consisted of 3,000 shares. Investors could bid for a minimum of 3,000 shares and in multiples thereof. Kalahridhaan Trendz IPO share allotment was finalised on Wednesday, February 21.

Also Read: Kalahridhaan Trendz IPO allotment finalised today; latest GMP, steps to check Kalahridhaan IPO allotment status

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).

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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.

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

Kalahridhaan Trendz IPO Subscription Status

Kalahridhaan Trendz IPO subscription status is 8.15 times 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, 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.

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

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: Deem Roll Tech IPO continues to see robust demand from retail investors on day 3; GMP rises

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