Kalahridhaan Trendz Ltd made a modest debut on the NSE SME platform, with its shares opening at ₹47.15, a slight 4.8% premium over the issue price of ₹45. The IPO, which was open for subscription from February 15 to February 20, saw its price band fixed at ₹45 per share and a lot size of 3,000 shares. Despite a lukewarm start, the IPO managed to reach a subscription status of 8.15 times by day 4, with share allotment finalized on February 21.
Kalaridhaan Trendz Limited’s IPO primarily aims to bolster working capital and support general corporate objectives. The company, specializing in fabric manufacturing and trading, including embroidery and the trading of grey cloths, plans to allocate INR 16.07 crores for enhancing its working capital, in line with its business plan for Fiscal 2024.
This investment is expected to drive profitability and achieve business targets. The remaining funds will be used for general corporate purposes such as growth initiatives, marketing, contingencies, and other ordinary business needs. Led by Mr. Niranjan Agrawal, a Managing Director with over three decades in textiles, and Mr. Adity Agrawal, a full-time Director, the company operates primarily in embroidery knitting and cloth dyeing and printing, focusing on the B2B wholesale market.
