Reported By: Mohammad Haris
Last Updated: September 18, 2023, 15:18 IST
Sai Silks Kalamandir IPO: The initial public offering of retail textile company Sai Silks (Kalamandir) Ltd is going to open for public subscription on September 20. The IPO will close on September 22. The price band for the Rs 1,201.00-crore IPO has been fixed at Rs 210-222 per share.
Sai Silks Kalamandir IPO: Key Dates, Lot Size, Quota
Investors can subscribe to the IPO between Wednesday (September 20) and Friday (September 22). The IPO allotment will take place on September 27. The company will make its stock market debut on October 4 with its shares listing on BSE and NSE.
The IPO is a book-built issue of Rs 1,201 crore, comprising a fresh issue of 2.7 crore shares worth Rs 600 crore and an offer-for-sale of 2.71 crore shares aggregating to Rs 601 crore.
Out of the total 5,40,99,027 shares on offer, 50 per cent has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors, and 35 per cent for retail investors.
Investors need to buy at least a lot of 67 shares.
Sai Silks Kalamandir IPO: GMP Today
According to market observers, the grey market premium of Sai Silks (Kalamandir) Ltd is currently at zero. It means the grey market is expecting no listing gain from the public issue. Importantly, GMP of unlisted shares keeps changing based on the sentiments in the market.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
About Sai Silks Kalamandir Ltd
Sai Silks (Kalamandir) Limited was incorporated in 2005. It provides ethnic apparel and value-fashion products.
Sai Silks offers a diverse range of products including 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.
Its profit after tax stood at Rs 97.59 crore during the year ended March 2023, Rs 57.69 crore in FY22, Rs 5.13 crore in FY21, and Rs 42.10 crore. Sai Silks’ revenue was at Rs 1,358.92 crore in FY23, Rs 1,133.02 crore in FY22, and Rs 679.10 crore in FY21, and Rs 1,178.62 crore in FY20.
The book running lead managers (BRLM) for the issue are Motilal Oswal, HDFC Bank, and Nuvama Wealth Management.