Sai Silks (Kalamandir) Limited IPO Message Board (Page 12)

It seems admin have incorrectly put the number of shares available in bhni and shni
I think they have by mistake put reverse figures. If currently put then right now the shni subscription would be 50% and bhni subscription would be 80%
Requested @chitorgarh admin to correct

Am I correct in pointing out or I am doing some mistake or missing something

It was correct observation!! Seems fixed now.

Apply apply apply.. Listing will be like Samhi.. 5-8, % up psbl

Company is a Hyderabad HQ, south focused garments retailer
As on 31-July-23, it has 54 stores across 4 states under 4 formats. These 4 formats target specific market segments (premium, upper middle and middle class, kanchipuram silk and middle to lower middle class) and ethnic and western wear.
Gross margin was around 34% in 20-21 and 21-22 but jumped to 39% in 22-23.
While revenue grew 20% in 22-23, receivable movement was negligible, from Rs 1.8 to Rs 2.8 cr, given all retail sales are in cash.
YoY inventory growth of 45% is worrisome and it reflects in Inventory Turnover ratio also. Sai Silk has inventory turnover ratio of 2.3 against 8.6 of Manyavar, 3.3 of Go Fashion and 7.6 of Trent. Any improvement in inventory turnover ratio will be a positive re-rating trigger. While Manyavar and Go Fashion operate through franchisee’s also, it is a big improvement area for Sai Silk
Same store sales growth was 9.2% in 22-23. Segment wise, sales of sarees has increased from 65% in 20-21 to 68% in 22-23 showing that company is getting its product segmentation right.
Category wise, share of normal category products has reduced from 60% of sales to 56 % of sales while the share of premium and ultra-premium products has increased.
Out of fresh issue proceeds, company intends to set up 30 new stores, targeting middle income and premium segments, and 2 warehouses.
Based on working capital projections, company is targeting sales of Rs 1555 cr in 23-24, a growth of 15% over 22-23 and around Rs 2000 cr in 24-24.
In other expenses, certain operational expenses like conveyance etc have increased more than increase in sales. Promotion expenses have increased 25% YoY, normal considering retail nature of the industry.
Bank borrowings carry interest rate of 9 to 9.5%, vehicle loans carry interest rate of 8 to 9% and NBFC borrowings carry interest rate of 12 to 15%.
As on 31-July-23, company disclosed it had 4873 employees. As per EPFO records, company has 2 entities and it deposited PF of 3207 employees for July-22 and 2374 employees for July-23.
Decent anchor book with good participation from White Oak, Abakkus (Sunil Singhania)

We can expect QIBs 20x subscription almost near to ₹5000cr 🔥🔥

is that possible to get sai silk money in JSW INFRA ?
IS THAT T+ 3 LISTING POSSIBLE ?

Ipo Size 1200 cr
OFS 600 cr (50%)

Mar 23 -
PAT 97 cr
Borrow increased by 80 cr

GMP 5%

Sai silk 3 seller no buyer

Back to Back IPO are in queue.
Those who have limited fund hold for
Vibhav
Valiant and
JSW
Valiant price band yet to know

​@SHINE Valiant Laboratories Price band

IPO Price ₹133 – ₹140
Market Lot 105 Share

Applied in both, this and Signature.

Not applying

Aaj ki listings, or market sentiments dekh kar Darr lag raha hai, iska kya hoga

NII ABOVE 10L 10% &
2 TO 10 FOR 5%

PLS UPGRADE

I think this should do ‘better than’ Signature.
Better means:

1. If ‘Signature’ lists at -8% then this may be -3% types.
2. If ‘Signature’ lists at 1% then this may list at 5% or so.

Lagana hai ki nahi, will decide after 2:30 PM.

No point applying blindly in this downtrend market.

Jai Shri Ram 🙏🏻🙏🏻

Classic case of loot in IPO.
IPO was brought in 2021 at price of Rs. 720/share and now 75% of company is sold to Nirma group at price of Rs. 615/Share.
15% discount to IPO price in more than 2 years.
I remember clearly that NO MF participated in Anchor book of GLS.

This is great news for GLS share holder.You said no mf participate in GLS ipo but now they will because change of hand

@Swar ji

Maybe MF or Institutions increase stake in this but I am not very positive on GLS because Nirma group is sole bidder for this company and if it is a lucrative business then atleast few more would had bidded.

I think Nirma Group have earned a lot of wealth from selling detergents & soaps so they are trying to diversify into different unrelated business. Before this they ventured into cement business by acquiring cement division of Holcim India's Concerto brand which is today known as "Nuvoco Vistas" and it is trading at 35% discount to IPO price and IPO came in 2021. I doubt capacities of Nirma Group to generate wealth for shareholders.

One request for information: please share if anyone has got IPO allotment by applying through ICICI BANK ASBA facility.

One of the account holder in my family has ICICI BANk account linked with IIFL. Never got any ipo allotment in this account over an year. Almost applying all ipo, of course high subscription ones. It is due to sheer luck or the combination of bank and traditing account.
So planning to apply this low subscription one to check whether the combination of bank and IIFL has the issue.

I have got many allotments including 2 Smes too in last one year

Yes, applying through ICICI 3-in-1 and alloted.
Recently alloted TVS SCS, Rishabh and Jupiter.
It is purely game of luck.

Jab jyada confusion hota hai to, jaha p QIB paisa lagayenge hum bhi wahi lagayenge ll dekhte kal kya hota hai ll

Dear IPO Mentors - any BHNI application rate in Grey market? My broker in Ahmedabad is providing quote of 1800 only for SHNI.

TO ADMIN AT CHHITORGARH.COM

May we know why a similar regular page is not made for Global Signature India IPO.
We would request you to make it , would be very helpful.
Thanks for the all information you are providing methodically for all the IPOS

​@scbkc 
Sorry sir, we didn't understand your question.

Signatureglobal (India) Limited
https://www.chittorgarh.com/ipo/signatureglobal-india-ipo/1382/

Admin  at Chhitorgarh.com
SIRS
thank you very much for your prompt response and providing the web page address for Signature Global India
For some reason I was not getting this page on google chrome.
thanks once again

i'll avoid.....
saree business not interested
declining business especially in metros!

If i want to cancel my HNI application from this IPO then can I cancel it by applying in retail category with same demat number and pan?

pan

Yes but both (HNI + Retail) are count invalid.