Sai Silks (Kalamandir) IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Sai Silks (Kalamandir) IPO will open on September 20 and close on September 22, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 1,201 crore through this public offering, consisting of 54,099,027 shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 210 to ₹ 222 per share.
Sai Silks (Kalamandir) Limited (“the Company”)
Sai Silks (Kalamandir) Limited commenced operations through its first ‘Kalamandir’ store in 2005 in Hyderabad, Telangana. Over the years, it has expanded to 46 stores in four south Indian states, i.e., Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu.
The company is one of the largest retailers of ethnic apparel, particularly sarees, in south India in terms of revenues and profit after tax in fiscal 2019, 2020, and 2021.
Through ita’s four store formats, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall, they offer ita products to various segments of the market that include premium ethnic fashion, ethnic fashion for middle income, and value-fashion, with a variety of products across different price points, thereby catering to customers across all market segments.
They leverage their store network of 46 stores as of May 31, 2022, to focus on spreading India’s vibrant culture, traditions, and heritage by offering a diverse range of products, which includes various types of ultra-premium and premium sarees suitable for weddings, party wear, as well as 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 ethnic wear and value-fashion products are available through our stores under four different formats, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall, as well as through e-commerce channels comprising its own website and other online e-commerce marketplaces.
Company Key Metrics
| Earning Per Share (EPS) | ₹ 8.11 per Equity Share |
| Debt to Equity Ratio | 0.87 |
| ROE | 27.96% |
| ROCE | 23.55% |
| P/E (x) | 27.37 |
| Return on Net Worth (RoNW) | 24.56% |
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding 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.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 397.33 | 276.60 | 218.93 | 208.05 |
| Total Assets | 1,220.45 | 842.49 | 665.42 | 692.76 |
| Reserve & Surplus | 373.27 | 276.60 | 218.93 | 208.05 |
| Total Borrowings | 345.50 | 260.49 | 217.22 | 164.70 |
| Total Revenue | 1,358.92 | 1,133.02 | 679.10 | 1,178.62 |
| Profit After Tax | 97.59 | 57.69 | 5.13 | 42.10 |
IPO details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 210 to ₹ 222 per share |
| Face Value | ₹ 2 per share |
| Market Lot | 67 shares |
| Issue Size | 54,099,027 shares (aggregating up to ₹ 1,201 crores) |
| Fresh Issue | 27,027,027 shares (aggregating up to ₹ 600 crores) |
| Offer for Sale | 27,072,000 shares (aggregating up to ₹ 601 crores) |
| Listing At | NSE, BSE |
Shareholding Pattern
| Shareholding pre-issue | 126,339,085 |
| Shareholding post issue | 153,366,112 |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 50% of the net offer |
| NII (HNI) shares offered | Not less than 15% of the Offer |
| Retail shares offered | Not less than 35% of the Offer |
GMP: Sai Silks (Kalamandir) IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates
The issue opens for subscription on September 20, 2023, and closes for subscription on September 22, 2023 (both days inclusive). The basis of allotment will be finalised on September 27, 2023, and the refunds will be initiated on September 29, 2023. In addition, the demat credits are expected to happen on October 3, 2023, and the stock will be listed on the NSE and BSE on October 4, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 20, 2023 |
| Closing Date | September 22, 2023 |
| Basis of Allotment | September 27, 2023 |
| Initiation of Refunds | September 29, 2023 |
| A credit of shares to Demat A/c | October 3, 2023 |
| Listing Date | October 4, 2023 |
Lot Size
The lot size of the Sai Silks (Kalamandir)IPO is 67 shares. A retail-individual investor can apply for up to 13 lots, i.e. 871 shares of ₹ 193,362.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 67 | ₹ 14,874 |
| Retail (Maximum) | 13 | 871 | ₹ 193,362 |
| S-HNI (Minimum) | 14 | 938 | ₹ 208,236 |
| S-HNI (Maximum) | 67 | 4,489 | ₹ 996,558 |
| B-HNI (Minimum) | 68 | 4,556 | ₹ 1,011,432 |
Promoters Holdings
Nagakanaka Durga Prasad Chalavadi and Jhansi Rani Chalavadi are the promoters of the company.
| Pre-issue Shares Holdings | 95.23% |
| Post-issue Shares Holdings | 60.80% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Sai Silks (Kalamandir) Limited 6-3-790/8, Flat No. 1 Bathina Apartments, Ameerpet Hyderabad – 500 016 Phone: +91 40 6656 6555 Email: [email protected] Website: https://sskl.co.in/ |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: [email protected] Website: https://ipo.bigshareonline.com/ipo_status.html |
| IPO Lead Manager(s) | • Motilal Oswal Investment Advisors Limited • HDFC Bank Limited Nuvama • Wealth Management Limited |
FAQs
What is Sai Silks (Kalamandir)’s IPO price?
The Sai Silks (Kalamandir) IPO price is ₹ 210 to ₹ 222 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Sai Silks (Kalamandir) IPO contains 67 shares of ₹ 14,874.
When will the Sai Silks (Kalamandir) IPO allotment be available?
The finalisation of the basis of allotment for the Sai Silks (Kalamandir) IPO will be done on September 27, 2023, and the allotted shares will be credited to your demat account by October 3, 2023. Check the Sai Silks (Kalamandir) IPO allotment status.
When will the Sai Silks (Kalamandir) IPO be listed on exchanges?
The Sai Silks (Kalamandir) IPO shares listing date is October 4, 2023.
How many Sai Silks (Kalamandir) IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.
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