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Sai Silks (Kalamandir) Limited IPO Detail

Sai Silks (Kalamandir) Limited IPO Detail

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:

  1. Kalamandir: Here it offers contemporary ethnic fashion for the middle income, this includes varieties of sarees, such as Tusser, Silk, Kota, Kora, Khadi, Georgette, Cotton, and Matka.
  2. VaraMahalakshmi Silks: Here it offers premium ethnic silk sarees and handlooms targeting wedding and occasional wear, such as Banarasi, Patola, Kota, Kanchipuram, Paithani, and Organza, Kuppadam, with a focus on handlooms such as Kacheepuram silk sarees.
  3. Mandir: Here it offers ultra-premium designer sarees targeting high net worth individuals, such as designer sarees such as Banarasi, Patola, Ikat, Kanchipuram, Paithani, Organza, and Kuppadam.
  4. KLM Fashion Mall: Here it offers value fashion at affordable price points, such as fusion wear, sarees for daily wear, and western wear for women, men, and children.

The company also offers its products through e-commerce channels which comprises its website 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.

Company Promoters

Nagakanaka Durga Prasad Chalavadi and Jhansi Rani Chalavadi

IPO Details

IPO Opening DateSep 20, 2023
IPO Closing DateSep 22, 2023
Issue TypeBook Built Issue IPO
Face Value₹2 per equity share
IPO Price ₹210 - 222 per equity share
Market Lot67 Shares
Min Order Quantity67 Shares
Listing AtBSE, NSE
Issue Size₹1,201.00 Cr
Fresh Issue₹600.00 Cr
Offer for Sale₹601.00 Cr
Retail Portion 35%

IPO Tentative Timetable

The Sai Silks (Kalamandir) Limited IPO open date is Sep 20, 2023, and the close date is Sep 22, 2023. The issue may list on Oct 04, 2023.

IPO Open DateSep 20, 2023
IPO Close DateSep 22, 2023
Basis of Allotment DateSep 27, 2023
Initiation of RefundsSep 29, 2023
Credit of Shares to Demat AccountOct 03, 2023
IPO Listing DateOct 04, 2023

IPO Lot Size

The Sai Silks (Kalamandir) Limited IPO market lot size is 67 shares. A retail-individual investor can apply for up to 13 lots (871 shares or ₹193362).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding95.23%
Post Issue Share Holding95.23%

Company Financials:

For the year/period ended (₹ in Cr.)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 665.42 679.10 5.13
31-Mar-22 842.49 1133.02 57.69
31-Mar-23 1220.45 1358.92 97.59

Objects of the Issue:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. Funding capital expenditure towards setting up 25 new stores.
  2. Funding capital expenditure towards setting-up of two warehouses.
  3. Funding the working capital requirements of the company.
  4. Repayment or pre-payment, in full or part, of certain borrowings availed by the company.
  5. General corporate purposes.

Sai Silks (Kalamandir) Limited IPO Registrar:

Bigshare Services Pvt Ltd

Sai Silks (Kalamandir) Limited IPO Lead Manager(s):

Motilal Oswal Investment Advisors Limited Hdfc Bank Limited Nuvama Wealth Management Limited

Company Contact Information:

Sai Silks (Kalamandir) Limited

6-3-790/8, Flat No. 1

Bathina Apartments, Ameerpet

Hyderabad - 500 016