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Sai Silks (Kalamandir) IPO is a book built issue of Rs 1,201.00 crores. The issue is a combination of fresh issue of 2.7 crore shares aggregating to Rs 600.00 crores and offer for sale of 2.71 crore shares aggregating to Rs 601.00 crores.
Sai Silks (Kalamandir) IPO bidding started from September 20, 2023 and ended on September 22, 2023. The allotment for Sai Silks (Kalamandir) IPO was finalized on Wednesday, September 27, 2023. The shares got listed on BSE, NSE on September 27, 2023.
Sai Silks (Kalamandir) IPO price band is set at ₹210 to ₹222 per share. The minimum lot size for an application is 67 Shares. The minimum amount of investment required by retail investors is ₹14,874. The minimum lot size investment for sNII is 14 lots (938 shares), amounting to ₹208,236, and for bNII, it is 68 lots (4,556 shares), amounting to ₹1,011,432.
Motilal Oswal Investment Advisors Limited, Hdfc Bank Limited and Nuvama Wealth Management Limited are the book running lead managers of the Sai Silks (Kalamandir) IPO, while Bigshare Services Pvt Ltd is the registrar for 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 |
| Price Band | ₹210 to ₹222 per share |
| Lot Size | 67 Shares |
| Total Issue Size | 54,099,027 shares (aggregating up to ₹1,201.00 Cr) |
| Fresh Issue | 27,027,027 shares (aggregating up to ₹600.00 Cr) |
| Offer for Sale | 27,072,000 shares of ₹2 (aggregating up to ₹601.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding post issue | 153,366,112 |
Sai Silks (Kalamandir) IPO offers 54,099,027 shares. 10,819,807 (20.00%) to QIB, 8,114,854 (15.00%) to NII, 18,934,659 (35.00%) to RII 16,229,707 (30.00%) to Anchor investors. 282,606 RIIs will receive minimum 67 shares and 2,883 (sNII) and 5,767 (bNII) will receive minimum 938 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 16,229,707 (30.00%) | NA |
| QIB Shares Offered | 10,819,807 (20.00%) | NA |
| NII (HNI) Shares Offered | 8,114,854 (15.00%) | |
| bNII > ₹10L | 5,409,903 (10.00%) | 5,767 |
| sNII < ₹10L | 2,704,951 (5.00%) | 2,883 |
| Retail Shares Offered | 18,934,659 (35.00%) | 282,606 |
| Total Shares Offered | 54,099,027 (100%) |
Sai Silks (Kalamandir) IPO raises Rs 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 | 16,229,707 |
| 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 | Wednesday, September 20, 2023 |
| IPO Close Date | Friday, September 22, 2023 |
| Basis of Allotment | Wednesday, September 27, 2023 |
| Initiation of Refunds | Friday, September 29, 2023 |
| Credit of Shares to Demat | Tuesday, October 3, 2023 |
| Listing Date | Wednesday, September 27, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 22, 2023 |
Investors can bid for a minimum of 67 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 67 | ₹14,874 |
| Retail (Max) | 13 | 871 | ₹193,362 |
| S-HNI (Min) | 14 | 938 | ₹208,236 |
| S-HNI (Max) | 67 | 4,489 | ₹996,558 |
| B-HNI (Min) | 68 | 4,556 | ₹1,011,432 |
| Lot Size Calculator | |||
The promoters of the company are Nagakanaka Durga Prasad Chalavadi and Jhansi Rani Chalavadi.
| Share Holding Pre Issue | 95.23% |
| Share Holding Post Issue | 60.80% |
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 |
| Revenue | 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 Rs 3404.73 Cr.
| KPI | Values |
|---|---|
| ROE | 27.96% |
| ROCE | 23.55% |
| Debt/Equity | 0.87 |
| RoNW | 24.56% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.11 | |
| P/E (x) | 27.37 | 34.91 |
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
[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...
The Sai Silks (Kalamandir) IPO is subscribed 4.47 times on September 22, 2023 7:02:00 PM. 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 (times) |
|---|---|
| QIB | 12.17 |
| NII | 2.54 |
| bNII (bids above ₹10L) | 3.03 |
| sNII (bids below ₹10L) | 1.57 |
| Retail | 0.91 |
| Total | 4.47 |
Total Application : 147,469 (0.52 times)
| Listing Date | September 27, 2023 |
| BSE Script Code | 543989 |
| NSE Symbol | KALAMANDIR |
| ISIN | INE438K01021 |
| Final Issue Price | ₹222 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹222.00 |
| ₹230.10 |
| ₹230.10 |
| ₹246.85 |
| ₹244.85 |
| NSE |
|---|
| ₹222.00 |
| ₹231.00 |
| ₹230.95 |
| ₹247.00 |
| ₹244.90 |
Sai Silks (Kalamandir) Limited
6-3-790/8, Flat No. 1
Bathina Apartments, Ameerpet
Hyderabad - 500 016
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 54,099,027 equity shares of the face value of ₹2 aggregating up to ₹1,201.00 Crores. The issue is priced at ₹210 to ₹222 per share. The minimum order quantity is 67 Shares.
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 Shares, and the minimum amount required is ₹14,874.
You can apply in Sai Silks (Kalamandir) IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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.
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