Sai Silks (Kalamandir) Limited IPO is set to launch on 20 September, 2023. The company initiated its business operations in the year 2005. The company provides fashion products through online and offline modes. The offline stores of the company are separated under 4 names like VaraMahalakshmi Silks, Kalamandir, KLM Fashion Mall, Mandir. The online sales of the company is done through sskl.co.in website. The product portfolio of the company ranges from ultra premium wear to premium wear. The company has products like sarees for party wear, weddings, lehengas, men’s ethnic wear, occasional and daily wear sarees, children;s ethnic wear, etc.
Sai Silks (Kalamandir) Limited IPO DETAILS
Sai Silks (Kalamandir) Limited IPO is set to launch on 20 September, 2023. The subscription timeline extends till 22 September, 2023. The size for the IPO is 1201 Crore Rs. Shares issued through fresh issue mode are worth 600 Crore Rs. Shares issued through offer for sale mode are worth Rs 601 Crore. The lot size is 67 shares and the price is 210 to 222 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs.2 and this is a Book Built issue. The registrar for the company is BigShare Services Private Limited.
Tabular Description of Sai Silks (Kalamandir) Limited IPO
| IPO OPENING DATE | 20 September, 2023 |
| CLOSING DATE FOR IPO | 22 September, 2023 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 2 Rs. per share |
| IPO price band | 210 Rs. to 222 Rs. per share |
| LOT SIZE | 67 shares |
| MINIMUM ORDER QUANTITY | 67 shares |
| ISSUE SIZE | 1201 Crore Rs. |
| OFFER FOR SALE | 601 Crore Rs. |
| FRESH ISSUE | 600 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 4 October, 2023 |
Sai Silks (Kalamandir) Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 20 September, 2023 |
| CLOSING DATE FOR IPO | 22 September, 2023 |
| IPO ALLOTMENT DATE | 27 September, 2023 |
| REFUNDS | 29 September, 2023 |
| DEMAT A/C CREDITED ON | 3 October, 2023 |
| IPO LISTING DATE | 4 October, 2023 |
Sai Silks (Kalamandir) Limited IPO begins for subscription from 20 September 2023. The IPO subscription would continue till 22 September, 2023. The allotment status for the shareholders who applied would come on 27 September, 2023. The refunds for the ones who did not get allotment would be initiated on 29 September, 2023. The DEMAT accounts of shareholders would be credited on 3 October, 2023. The listing of the company would be completed on 4 October, 2023.
Sai Silks (Kalamandir) Limited IPO : Lead Managers
The lead managers are :
- HDFC Bank Limited
- Motilal Oswal Investment Advisors Limited
- Nuvama Wealth management Limited
The minimum lot size for the company is decided at 67 shares. This holding accounts to 14874 Rs.. The maximum lot size is decided at 871 shares. This amounts to 193362 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 67 shares | 14874 Rs. |
| Maximum | 871 shares | 193362 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- The money will be used for setting up 30 new stores and 2 warehouses.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 665 | 842 | 1220 |
| Revenue | 679 | 1133 | 1358 |
| PAT | 5.13 | 57 | 97 |
Sai Silks (Kalamandir) Limited had an asset base of 665 Crore Rs in the year 2021 which increased to 842 Crore Rs in the year 2022 and 1220 Crore Rs in the year 2023. The revenue of the firm was 679 Crore Rs in the year 2021 which increased to 1133 Crore Rs in the year 2022 and 1358 Crore Rs in the year 2023. The profit of the firm was 5.13 Crore Rs in 2021, 57 Crore Rs in 2022 and 97 Crore Rs in 2023.
PROS
- The offline stores of the company are separated under 4 names like VaraMahalakshmi Silks, Kalamandir, KLM Fashion Mall, Mandir.
- The online sales of the company is done through sskl.co.in website.
- The product portfolio of the company ranges from ultra premium wear to premium wear. The company has products like sarees for party wear, weddings, lehengas, men’s ethnic wear, occasional and daily wear sarees, children;s ethnic wear, etc.
CONS
- The company works in a highly competitive segment.
Sai Silks (Kalamandir) Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Sai Silks (Kalamandir) Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
