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Hot Pursuit News

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(23 Feb 2024, 12:15)

NSE SME Kalahridhaan Trendz makes a decent listing

Shares of Kalahridhaan Trendz were quoting at Rs 49.50 on the NSE, a premium of 10% compared with the issue price of Rs 45.

The scrip was listed at Rs 47.15, a premium of 4.78% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 49.50 and a low of Rs 47.15. About 24.12 lakh shares of the company changed hands at the counter.

Kalahridhaan Trendz's IPO was subscribed 8.15 times. The issue opened for bidding on 15 February 2024 and it closed on 20 February 2024. The price of the IPO was fixed at Rs 45 per share.

The IPO comprised fresh issue of 49,98,000 shares. The promoter and promoter shareholding diluted to 68.24% from 96.22% pre-IPO.

The company intends to utilise the net proceeds for issue for working capital requirements and general corporate purpose.

Kalahridhaan Trendz is mainl...

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