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:
- 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.
- 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.
- 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.
- 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 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.
Company Promoters
Nagakanaka Durga Prasad Chalavadi and Jhansi Rani ChalavadiIPO Details
| IPO Opening Date | Sep 20, 2023 |
| IPO Closing Date | Sep 22, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | ₹210 - 222 per equity share |
| Market Lot | 67 Shares |
| Min Order Quantity | 67 Shares |
| Listing At | BSE, 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 Date | Sep 20, 2023 |
| IPO Close Date | Sep 22, 2023 |
| Basis of Allotment Date | Sep 27, 2023 |
| Initiation of Refunds | Sep 29, 2023 |
| Credit of Shares to Demat Account | Oct 03, 2023 |
| IPO Listing Date | Oct 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).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 67 | ₹14874 |
| Maximum | 13 | 871 | ₹193362 |
IPO Promoter Holding
| Pre Issue Share Holding | 95.23% |
| Post Issue Share Holding | 95.23% |
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:
- Funding capital expenditure towards setting up 25 new stores.
- Funding capital expenditure towards setting-up of two warehouses.
- Funding the working capital requirements of the company.
- Repayment or pre-payment, in full or part, of certain borrowings availed by the company.
- 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
