Bookbuilding IPO | ₹1,201 Cr | Listed at BSE, NSE | Wed, Sep 20, 2023 - Fri, Sep 22, 2023
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 per share. The lot size for an application is 67. The minimum amount of investment required by an retail is ₹14,874 (67 shares) (based on upper price). 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 Open
Wed, Sep 20, 2023
IPO Close
Fri, Sep 22, 2023
Issue Price
₹222 per share
Market Cap (Pre-IPO)
₹3,404.73 Cr
| IPO Date | 20 to 22 Sep, 2023 |
| Listed on | Wed, Sep 27, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹210 to ₹222 |
| Issue Price | ₹222 per share |
| Lot Size | 67 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 5,40,99,027 shares (agg. up to ₹1,201 Cr) |
| Fresh Issue | 2,70,27,027 shares (agg. up to ₹600 Cr) |
| Offer for Sale | 2,70,72,000 shares of ₹2 (agg. up to ₹601 Cr) |
| Share Holding Post Issue | 15,33,66,112 shares |
| BSE Script Code / NSE Symbol | 543989 / KALAMANDIR |
| ISIN | INE438K01021 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 67 shares and in multiples thereof.
| 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 |
Sai Silks (Kalamandir) IPO raises ₹360.30 crore from anchor investors. Sai Silks (Kalamandir) IPO Anchor bid date is September 18, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Sep 18, 2023 |
| Shares Offered | 1,62,29,707 |
| Anchor Portion (₹ Cr.) | 360.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Oct 27, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Dec 26, 2023 |
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.
| 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 Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
| KPI | |
|---|---|
| ROE | 27.96% |
| ROCE | 23.55% |
| Debt/Equity | 0.87 |
| RoNW | 24.56% |
| PAT Margin | 7.22% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.11 | |
| P/E (x) | 27.37 | 34.91 |
| Promoter Holding | 95.23% | 60.80% |
| Market Cap | ₹3,404.73 Cr. |
The Sai Silks (Kalamandir) IPO is subscribed 4.47 times on September 22, 2023 7:02:00 PM (Day 3). The public issue subscribed 0.91 times in the retail category, 12.17 times in the QIB category, and 2.54 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 12.17 | 1,08,19,807 | 13,16,79,656 |
| NII | 2.54 | 81,14,854 | 2,06,25,481 |
| bNII (> ₹10L) | 3.03 | 54,09,903 | 1,63,87,195 |
| sNII (< ₹10L) | 1.57 | 27,04,952 | 42,38,286 |
| Retail | 0.91 | 1,89,34,659 | 1,71,53,407 |
| Total | 4.47 | 3,78,69,320 | 16,94,58,544 |
Total Applications: 1,47,469
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs' fees and commissions (including underwriting commission, brokerage and selling commission) | 44.65 |
| 2 | Selling commission/processing fee for SCSBs, Banker(s) to the Offer, Sponsor Bank(s) and fee payable to the Sponsor Bank(s) for Bids made by RIIs(2)(3)(4) | 0.17 |
| 3 | Bidding charges for members of the Syndicate (including their sub-Syndicate Members), Registered Brokers, RTAs and CDPs(5) | 0.47 |
| 4 | Fees payable to the Registrar to the Offer | 0.35 |
| 5 | Other expenses: (i) Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 4.07 |
| 6 | Other expenses: (ii) Printing and stationery | 2.46 |
| 7 | Other expenses: (iii) Advertising and marketing expenses | 5.51 |
| 8 | Other expenses: (iv) Fee payable to legal counsel | 6.92 |
| 9 | Other expenses: (v) Fee payable to statutory auditors | 0.89 |
| 10 | Other expenses: (vi) Miscellaneous | 2.10 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹222.00 | ₹222.00 |
| Open | ₹230.10 | ₹231.00 |
| Low | ₹230.10 | ₹230.95 |
| High | ₹246.85 | ₹247.00 |
| Last Trade | ₹244.85 | ₹244.90 |
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 Crores. The issue is priced at ₹222 per share. The minimum order quantity is 67.
The IPO opens on Wed, Sep 20, 2023, and closes on Fri, Sep 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 Wed, Sep 20, 2023 and closes on Fri, Sep 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 Tue, Oct 3, 2023. Check the Sai Silks (Kalamandir) IPO allotment status.
The Sai Silks (Kalamandir) IPO listing date is on Wed, Sep 27, 2023.
