Kalahridhaan Trendz IPO Sees 1.7X Subscription on Day 2, GMP Hits Rs. 10; ProfitMart Backs Subscribe

By Rick Martin On Feb 16, 2024

A major highlight of the IPO of Kalaharidhan Trendz Limited is the Gray Market Premium (GMP), which is currently trading around Rs. 10.

Kalaharidhaan Trendz IPO gets 1.7x subscription on second day, GMP Rs. Reached. 10; Profitmart supports taking membership

Share Market News: Kalaharidhaan Trendz Limited, a leading player in the textile industry, has recently launched its Initial Public Offering (IPO), aiming to tap the capital market for expansion and growth. The IPO, which opened on February 15 and closed on February 20, has attracted significant attention from investors due to its promising prospects and strong financial performance.

Kalaharidhaan Trendz Limited has demonstrated impressive profit and sales growth year-on-year with an astonishing growth of 170.52% YoY. The company's strong financial performance is underlined by an attractive price-to-earnings (PE) ratio of 8, indicating attractive valuations relative to earnings. Additionally, Kalaharidhaan Trendz Limited boasts of strong return on capital (ROC) of 42.09% and return on capital employed (ROCE) of 17.39%, indicating efficient utilization of capital and operational effectiveness.

A major highlight of the IPO of Kalaharidhan Trendz Limited is the Gray Market Premium (GMP), which is currently trading around Rs. 10. This indicates a potential listing profit of approximately Rs. 30,000 for investors, it is an attractive proposition for those who want to avail short-term gains in the stock market.

From a technical perspective, the IPO of Kalaharidhan Trendz Limited witnessed strong demand from various investor categories. The subscription figures during the IPO subscription period reflect strong interest from investors, with the IPO overall oversubscribed by 1.41 times. Retail investors, in particular, showed great enthusiasm and subscribed the IPO 1.93 times.

Profitmart Securities, a renowned stockbroking firm, has recommended “long term subscription” for the IPO of Kalaharidhan Trendz Ltd. With a strong track record of increasing turnover and building strong relationships in the home textile sector over the last 8 years, Kalaharidhan Trendz Limited is well positioned for long term growth. Backed by over 15 years of industry experience and significant expertise of its promoters and management team, the company has a post-IPO net worth of Rs. It is estimated to happen. 39.41 Crore, presents an attractive investment opportunity for long term investors.

In conclusion, the IPO of Kalaharidhan Trendz Limited presents an attractive investment opportunity for both short-term and long-term investors. With a promising GMP, backing from Profitmart Securities and strong subscription figures, the IPO is poised for a successful listing and offers significant potential for returns in the emerging textile market scenario. Investors are encouraged to take advantage of this opportunity and take advantage of the growth prospects offered by Kalaharidhan Trendz Limited.