Kalahridhaan Trendz IPO: Check subscription status on Day 2, GMP and other details
Kalahridhaan Trendz IPO is an entirely fresh equity issue of 49.9 lakh shares, aiming to raise Rs 22.5 crore. The company is offering its shares at Rs 45 apiece, and investors can bid for 3,000 shares in 1 lot.
By Akash Podishetti, ETMarkets.com | Updated:
Agencies
The initial public offer (IPO) of Kalahridhaan Trendz was subscribed 1.42 times on the second day of the bidding process on Friday. The retail portion of the issue was fully booked, while that of NIIs was subscribed 89%.
The IPO is entirely a fresh equity issue of 49.9 lakh shares, aiming to raise Rs 22.5 crore. The company is offering its shares at Rs 45 apiece, and investors can bid for 3,000 shares in 1 lot.
Kalahridhaan Trendz is engaged in the business of manufacturing and trading fabric with embroidery works, grey cloths, purchase of grey cloth and printing and dyeing for preparing suiting, shirting and dress materials for sale in the market.
Also Read | Interiors & More IPO issue subscribed 19% so far on day 2. Check details
In the embroidery segment, the company undertakes embroidery work for its own business as well as on behalf of the other clients. In addition to this, it also gets embroidery work outsourced.
The company also deals in the purchase and sale of grey clothes as well as the suiting, shirting and dress materials.
As a part of an expansion of business activities, it has also taken over the textile dyeing and printing business unit on a rent basis in 2018, where the company is carrying out the dying and printing of suiting, shirting and dress materials for its use as well as on job work.
India’s textile and apparel exports (including handicrafts) stood at $44.4 billion in FY22. Total textile exports are expected to reach $65 billion by FY26. The textile and apparel industry is expected to grow at 10% CAGR from 2019-20 to reach $190 billion by 2025-26.
For the period ended September 2023, the company clocked revenues of Rs 84.2 crore and net profit of Rs 4.8 crore.
The net proceeds from the public offer will be used for working capital requirements, general corporate purposes and issue expenses.
Interactive Financial Services is acting as the lead manager to the issue and Bigshare Services is the registrar.
The IPO is entirely a fresh equity issue of 49.9 lakh shares, aiming to raise Rs 22.5 crore. The company is offering its shares at Rs 45 apiece, and investors can bid for 3,000 shares in 1 lot.
Kalahridhaan Trendz is engaged in the business of manufacturing and trading fabric with embroidery works, grey cloths, purchase of grey cloth and printing and dyeing for preparing suiting, shirting and dress materials for sale in the market.
Also Read | Interiors & More IPO issue subscribed 19% so far on day 2. Check details
In the embroidery segment, the company undertakes embroidery work for its own business as well as on behalf of the other clients. In addition to this, it also gets embroidery work outsourced.
The company also deals in the purchase and sale of grey clothes as well as the suiting, shirting and dress materials.
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As a part of an expansion of business activities, it has also taken over the textile dyeing and printing business unit on a rent basis in 2018, where the company is carrying out the dying and printing of suiting, shirting and dress materials for its use as well as on job work.
India’s textile and apparel exports (including handicrafts) stood at $44.4 billion in FY22. Total textile exports are expected to reach $65 billion by FY26. The textile and apparel industry is expected to grow at 10% CAGR from 2019-20 to reach $190 billion by 2025-26.
For the period ended September 2023, the company clocked revenues of Rs 84.2 crore and net profit of Rs 4.8 crore.
The net proceeds from the public offer will be used for working capital requirements, general corporate purposes and issue expenses.
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Interactive Financial Services is acting as the lead manager to the issue and Bigshare Services is the registrar.
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