IPO Details
Bidding Dates
20 Sep '23 - 22 Sep '23
Minimum Investment
₹14,874 / 1 Lots ( 67 Shares)
Price Range
₹210 - ₹222
Maximum Investment
₹193,362 / 13 Lots ( 871 Shares)
Retail Discount
Not Applicable
Issue Size
₹1,201.00 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |Sai Silks (Kalamandir) IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 20, 2023
IPO Closing Date
Sep 22, 2023
Basis of Allotment
Sep 27, 2023
Initiation of Refunds
Sep 29, 2023
Credit of Shares to Demat
Oct 3, 2023
IPO Listing Date
Oct 4, 2023
Cut-off time for UPI mandate confirmation
Sep 22, 2023
Sai Silks (Kalamandir) IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Sep 20, 2023 |
0.00 | 0.04 | 0.12 | 0.07 |
Day 2Sep 21, 2023 |
0.50 | 0.27 | 0.27 | 0.34 |
Day 3Sep 22, 2023 |
12.17 | 2.54 | 0.91 | 4.47 |
Sai Silks (Kalamandir) IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 12.17 |
| Non-Institutional Buyers | 2.54 |
| Retail Investors | 0.91 |
| Total | 4.47 |
About Sai Silks (Kalamandir) Ltd
Sai Silks is an apparel brand focused on ethnic wear of various kinds with a special focus on sarees. They have a large network of 54 stores as of July 31, 2023. Their product lines include ultra-premium and premium sarees, occasional and daily wear, lehengas, and ethnic, western and fusion wear for women, men and children. The products are available through both their stores and e-commerce channels comprising their own website and other online e-commerce marketplaces.
They have 4 different stores i.e., Kalamandir, VaraMahalakshmi Silks, Mandir and KLM Fashion Mall, each catering to a different business segment across different price points within the ethnic apparel market. For example:
- Kalamandir offers contemporary-style sarees of cotton, tusser, khadi, georgette, etc.
- VaraMahalakshmi Silks offers premium ethnic silk sarees and handlooms focusing on wedding and occasional wear such as Banarasi, Kanchipuram, Paithani, etc.
- Mandir serves the market for ultra-premium variety of designer sarees such as Banarasi, Patola, Ikat, Kanchipuram, Paithani, Organza and Kuppadam. These products target high net-worth individuals.
- KLM Fashion Mall caters to value fashion at affordable prices.
Between FY 2022 and FY 2027, the apparel market in India is expected to grow at a CAGR of 21% to reach US$ 133.53 billion in fiscal 2027 on the back of factors like higher brand consciousness, increasing digitisation, greater purchasing power and increasing urbanisation. Therefore, the market size for Sai Silks is expected to grow rapidly in the coming years.
Sai Silks (Kalamandir) Ltd IPO Details
Sai Silks (Kalamandir) Ltd IPO Date
Sai Silks (Kalamandir) IPO will be open between September 20, 2023 to September 22, 2023.
Sai Silks (Kalamandir) Ltd IPO Price Band
Sai Silks (Kalamandir) is a 100% book-built IPO. Its price range will be ₹210 to ₹222 per share.
Sai Silks (Kalamandir) Ltd IPO Lot Size
The Sai Silks (Kalamandir) Ltd IPO lot size is 67 shares per lot.
Sai Silks (Kalamandir) Ltd IPO Objectives
The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:
- Funding capital expenditure towards setting up 30 new stores.
- Capital expenditure towards setting up two warehouses.
- Funding working capital requirements.
- Repayment or pre-payment, in full or part, of certain borrowings.
- General corporate purposes.
Peer Details
The companies considered by Sai Silks (Kalamandir) as its listed peers include:
- Vedant Fashions Limited
- TCNS Clothing Co. Limited
- Go Fashion (India) Limited
- Aditya Birla Fashion and Retail Limited
- Shoppers Stop Limited
- Trent Limited
How to Check the Allotment Status of the Sai Silks (Kalamandir) Ltd IPO?
A: Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Contact Details of Sai Silks (Kalamandir) Ltd
Registered office: 6-3-790/8, Flat No. 1, Bathina Apartments, Ameerpet, Hyderabad 500 016, Telangana, India
Phone: +91 40 6656 6555
E-mail: secretarial@sskl.co.in
Sai Silks (Kalamandir) Company Financials
| Particulars | Year Ending on March 31, 2023 ( ₹ in cr) | Year Ending on March 31, 2022 ( ₹ in cr) | Year Ending on March 31, 2021 ( ₹ in cr) |
|---|---|---|---|
| Total Income | 1,358.92 | 1,133.02 | 679.09 |
| Profit for the Year | 97.59 | 57.69 | 5.13 |
| Current Ratio | 1.41 | 1.38 | 1.36 |
| Return on Capital Employed | 23.55% | 21.71% | 8.51% |
| Debt Service Coverage Ratio | 3.74 | 3.29 | 2.17 |
Know before investing
Strengths
3-
In the past 3 years, they have massively improved their revenues, profitability, capital efficiency and solvency.
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They have experience in handling a variety of product segments, with different brands catering to different audiences.
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Post-covid, they have combined their offline stores with online marketing, both via their own website and third-party sites. This move allows them to not be dependent on only one marketing channel and also helps scalability via online channels.
Risks
3-
Their business is highly concentrated on the sale of women’s sarees, which contributed 68.38% of the revenue in FY 2023.
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They procure their products from third-party vendors and master weavers with whom they do not have any long-term formal agreements. Therefore their supply of products and prices are at risk from any disruptions in the market. They also cannot guarantee exclusive quality for their products as the vendors are not under any long-term agreements.
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Their lending obligations force them to obtain the respective lenders’ consent before carrying out certain activities and entering into certain transactions. As of July 31, 2023, their total outstanding borrowings are of ₹357.02 crore. This may be an excess burden and may hamper regular operations.
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Sai Silks (Kalamandir) Ltd IPO FAQs
Sai Silks (Kalamandir) IPO has both fresh issue and OFS components. It is a book-building issue with a price range of ₹210 to ₹222 per share.
The date of allotment will be Wednesday, September 27, 2023.
The IPO subscription window will be between September 20, 2023 to September 22, 2023.
The minimum lot size will be 67 shares.
Sai Silks (Kalamandir) Ltd IPO will be listed on the NSE and BSE on Wednesday, October 4, 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you applied for.
- Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which will happen on Wednesday, October 4, 2023.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
