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Sai Silks (Kalamandir) IPO is a book build issue of ₹1,201.00 crores. The issue is a combination of fresh issue of 2.70 crore shares aggregating to ₹600.00 crores and offer for sale of 2.71 crore shares aggregating to ₹601.00 crores.
Sai Silks (Kalamandir) IPO bidding started from Sep 20, 2023 and ended on Sep 22, 2023. The allotment for Sai Silks (Kalamandir) IPO was finalized on Sep 27, 2023. The shares got listed on BSE, NSE on Sep 27, 2023.
Sai Silks (Kalamandir) IPO price band is set at ₹222.00 per share . The lot size for an application is 67. The minimum amount of investment required by an retail is ₹14,070 (67 shares). The lot size investment for sNII is 14 lots (938 shares), amounting to ₹2,08,236, and for bNII, it is 68 lots (4,556 shares), amounting to ₹10,11,432.
Motilal Oswal Investment Advisors Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Sai Silks (Kalamandir) IPO RHP for detailed Information.
| IPO Date | September 20, 2023 to September 22, 2023 |
| Listing Date | September 27, 2023 |
| Face Value | ₹2 per share |
| Issue Price Band | ₹210 to ₹222 per share |
| Issue Price Final | ₹222 per share |
| Lot Size | 67 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 5,40,99,027 shares (aggregating up to ₹1,201.00 Cr) |
| Fresh Issue | 2,70,27,027 shares (aggregating up to ₹600.00 Cr) |
| Offer for Sale | 2,70,72,000 shares of ₹2 (aggregating up to ₹601.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Post Issue | 15,33,66,112 shares |
Sai Silks (Kalamandir) IPO offers total 5,40,99,027 shares. Out of which 2,70,49,512 (50.00%) allocated to QIB, 1,08,19,805 (20.00%) allocated to QIB, 81,14,855 (15.00%) allocated to NII, 1,89,34,660 (35.00%) allocated to RII and 1,62,29,707 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,70,49,512 (50.00%) | NA |
| − Anchor Investor Shares Offered | 1,62,29,707 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,08,19,805 (20.00%) | NA |
| NII (HNI) Shares Offered | 81,14,855 (15.00%) | NA |
| − bNII > ₹10L | 54,09,903 (10.00%) | 5,767 |
| − sNII < ₹10L | 27,04,952 (5.00%) | 2,883 |
| Retail Shares Offered | 1,89,34,660 (35.00%) | 2,82,606 |
| Total Shares Offered | 5,40,99,027 (100.00%) |
Sai Silks (Kalamandir) IPO raises ₹360.30 crore from anchor investors. Sai Silks (Kalamandir) IPO Anchor bid date is September 18, 2023. Sai Silks (Kalamandir) IPO Anchor Investors list
| Bid Date | September 18, 2023 |
| Shares Offered | 1,62,29,707 |
| Anchor Portion Size (In Cr.) | 360.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 27, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 26, 2023 |
Sai Silks (Kalamandir) IPO opens on September 20, 2023, and closes on September 22, 2023.
| IPO Open Date | Wed, Sep 20, 2023 |
| IPO Close Date | Fri, Sep 22, 2023 |
| Tentative Allotment | Wed, Sep 27, 2023 |
| Initiation of Refunds | Fri, Sep 29, 2023 |
| Credit of Shares to Demat | Tue, Oct 3, 2023 |
| Tentative Listing Date | Wed, Sep 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 22, 2023 |
Investors can bid for a minimum of 67 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 67 | ₹14,874 |
| Retail (Max) | 13 | 871 | ₹1,93,362 |
| S-HNI (Min) | 14 | 938 | ₹2,08,236 |
| S-HNI (Max) | 67 | 4,489 | ₹9,96,558 |
| B-HNI (Min) | 68 | 4,556 | ₹10,11,432 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2005, Sai Silks (Kalamandir) Limited provides ethnic apparel and value-fashion products.
Inspired by India's vibrant culture, traditions, and heritage, the company offers a diverse range of products which includes various types of ultra-premium and premium sarees suitable for weddings, party wear, occasional and daily wear, lehengas, men's ethnic wear, children's ethnic wear and value fashion products comprising fusion wear and western wear for women, men and children.
Sai Silks has four different format stores:
The company also offers its products through e-commerce channels which comprises its website sskl.co.in and other online e-commerce marketplaces.
As of July 31, 2023, the company has over 54 stores in four south Indian states namely Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, with an aggregate area of approximately 603,414 square feet. The company recorded Rs. 13,514.69 million, Rs. 11,293.23 million, and Rs. 6,772.48 million in revenue from operations in the fiscal 2023, 2022, and 2021 respectively.
Sai Silks (Kalamandir) Limited's revenue increased by 19.94% and profit after tax (PAT) rose by 69.17% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
| Assets | 1,220.45 | 842.49 | 665.42 | 692.76 |
| Total Income | 1,358.92 | 1,133.02 | 679.10 | 1,178.62 |
| Profit After Tax | 97.59 | 57.69 | 5.13 | 42.10 |
| Net Worth | 397.33 | 300.66 | 242.99 | 231.51 |
| Reserves and Surplus | 373.27 | 276.60 | 218.93 | 208.05 |
| Total Borrowing | 345.50 | 260.49 | 217.22 | 164.70 |
| Amount in ₹ Crore | ||||
The market capitalization of Sai Silks (Kalamandir) IPO is ₹3404.73 Cr.
| KPI | Values |
|---|---|
| ROE | 27.96% |
| ROCE | 23.55% |
| Debt/Equity | 0.87 |
| RoNW | 24.56% |
The Company Sai Silks (Kalamandir) IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Funding capital expenditure towards setting-up of 30 new stores | 125.08 |
| 2 | Funding capital expenditure towards setting-up of two warehouses | 25.40 |
| 3 | Funding working capital requirements of the Company | 280.07 |
| 4 | Repayment or pre-payment, in full or part, of certain borrowings availed by the Company | 50.00 |
| 5 | General Corporate Purposes | 85.69 |
[Dilip Davda] After unsuccessful try for its maiden IPO in February 2013, the company has emerged one of the top 10 retailers in ethnic wares with major focus on sarees. After suffering a bit due to COVID impact till FY22, it has reported good numbers for FY23, indicating prospects ahead with additional new stores. Based on FY23 earnings, the issue appears fully priced. Well-informed investors may park funds for medium to long term rewards. Read detail review...
| Listing Date | September 27, 2023 |
| BSE Script Code | 543989 |
| NSE Symbol | KALAMANDIR |
| ISIN | INE438K01021 |
| Final Issue Price | ₹222 per share |
| BSE Listing Group | B |
Sai Silks (Kalamandir) Ltd.
6-3-790/8, Flat No. 1
Bathina Apartments, Ameerpet
Hyderabad - 500 016
Hyderabad, Telangana
Phone: +91 40 6656 6555
Email: secretarial@sskl.co.in
Website: https://sskl.co.in/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Sai Silks (Kalamandir) IPO is a main-board IPO of 5,40,99,027 equity shares of the face value of ₹2 aggregating up to ₹1,201.00 Crores. The issue is priced at ₹222 per share. The minimum order quantity is 67.
The IPO opens on September 20, 2023, and closes on September 22, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Sai Silks (Kalamandir) IPO using UPI as a payment gateway. Zerodha customers can apply in Sai Silks (Kalamandir) IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sai Silks (Kalamandir) IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sai Silks (Kalamandir) IPO opens on September 20, 2023 and closes on September 22, 2023.
Sai Silks (Kalamandir) IPO lot size is 67, and the minimum amount required for application is ₹14,874.
You can apply in Sai Silks (Kalamandir) IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sai Silks (Kalamandir) IPO will be done on Wednesday, September 27, 2023, and the allotted shares will be credited to your demat account by Tuesday, October 3, 2023. Check the Sai Silks (Kalamandir) IPO allotment status.
The Sai Silks (Kalamandir) IPO listing date is on Wednesday, September 27, 2023.
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