Sai Silks (Kalamandir) Ltd IPO (Sai Silks Kalamandir ipo) Detail

IPO withdrwan.
ASBA removed on 20/2/2013 evening.

Sai Silk IPO was subscribed only 0.93 times.

Though due to option of Safety Net, Retail portion was subscribed 1.31 times. but QIB portion remained totally unsubscribed.

Promoter group of company had provided Safety Net scheme, under the Scheme if the market rate of the equity shares falls below issue price at any time during 6 month, providers will buy maximum of 1000 shares at the issue price from original allotters.



Under the circumstances, if post issue Sai silk share goes below offer price, the liability of promoter group comes around Rs. 45 to 50 Cr.

In this case, company gets Rs. 84 Crs. (Out of Rs. 89 Cr. Issue) from IPO proceeds but promoters have to pay Rs. 50 Cr. From their pockets, to buy back the shares


So Lead Manager of company decided to withdraw the issue & refund the money within 7 days to the investors


BUT SAFETY NET IS VERY GOOD THING - I HAD APPLIED 3 LOTS OF 1000 SHARES DESPITE MANY PEOPLE SAYING NOT TO APPLY

LET ME SEE WHEN MY ASBA WILL BE REMOVED

BUT HATS OFF TO SAI SILK PEOPLE THAT THEY TRIED TO BE INNOVATIVE AND DESPITE NOT COMPULSORY , THEY GAVE US SAFETY NET SCHEME . AT LEAST THEY ARE NOT CHEATERS LIKE OTHERS WHERE WE SMALL INVESTORS HAVE LOST AROUND 90 % OF OUR INVESTED AMOUNT . SARBANANDA GATTANI

This issue finally stands withdrawn as it garnered nearly 90% plus from retail investors alone raising burden of "Safety Net" in case of quote below offer price and thus resulting a disaster rather than a fund mobilization stream

FINALLY GOOD NEWS!!!

Now ALL RETAIL HAVE SAFETY NET.....

hehehehe.....

*Attn Members: The board of Directors of Sai Silks (Kalamandir) Limited in consultation with the Book Running Lead Managers to the issue have decided, not to proceed with the Public Issue of . Equity Shares aggregating to Rs 8900 Lakhs which opened for subscription on February 11, 2013 and closed for subscription on February 13, 2013.

Hehehe.... good move by QIB''s..... finally issue is withdrawn.... Now ALL RETAIL HAVE SAFETY NET..... HEHEHEHE....

Has any one applied for Oil india OFS sale? We applied @ 510 and hence it is not alloted.

How long will it take for the refund? Some one pls share info

I have also applied for NTPC OFS through sharekhan, not yet got the application status nor refund and allotment

WHEN WILL WE GET OUR ASBA CLEARED SINCE IPO IS WITHDRAWN

BHAI LOG SAI SILK IPO WITHDRAWN HO GAYA HE. YA TO STOP PAYMENT KARAO YA TO CHECK DEBIT HO GAYA HE TO 7DAYS INTAZAR KARO PAISA VAPAS ANE KA

Can you please tell from where get this information?

it is on NSE

http://www.nseindia.com/products/content/equities/ipos/ipo_current_sskl.htm

I HAVE DONE 3 APPLICATIONS OF 75000 EACH - FOR 1000 SHARES - I THINK IT IS FAIR ENOUGH TO APPLY - EITH SAFETY NET - THE MAXIMUM THAT I am going to lose is Interest for say 1 month since I will watch for 1 month . If the share prices goes about 80 I will sell the shares else I will give the shares back to Compaany after 1 month . Safety net is a very good thing . At least we wont have NHPC , RDB RAsayan , Vaswani < etc in the future where our hard earned Investment 90 % was eroded . Rgds

AS there is no subscription in QIB category and negligble subscription in HNI category, so there will be practically no seller on listing days as i assume that retail investor who get the shares through IPO will not sell the shares at below issue price as issuer will bring the shares at issue price if it falls below issue price in stipulated time. So the stock may not trade too much below issue price.
I may likely to get 2 lot and will wait for getting back my investment rather than sold at below issue price. Hope other retail will folow the same

I HAVE NOT APPLIED FOR SAI SILK IPO....BE CAREFUL WITH YOUR MONEY....

SSKL IPO CANCEL ..

Article in Todays Business Line ....


The issue will sail through as it received a response of 93.32 per cent (in terms of value) against the minimum requirement of 90 per cent mandated by SEBI,” said an expert in IPO issues.

The portion meant for retail investors was subscribed 1.31 times. The demand from retail investors were at 91.45 lakh shares as against 69.92 lakh shares on offer by the company.

In contrast, for 44.49 lakh shares offered to the non-institutional investors, bids came in only for 19.30 lakh shares, while the qualified institutional bidders’ portion (12.71 lakh shares) remained unsubscribed.
Safety net helps

Retail investors, who have burnt their fingers in recent IPOs, have reposed faith in this issue, largely due to the safety net provided by promoters. Under the safety net scheme, promoters have offered to buyback the shares from the primary market investor at the issue price, if the market value of the stock falls below the issue price.

Bhavya, Senior Research Analyst, Phillip Capital, said the buyback offer valid for six months, has reduced or almost mitigated the retail investor risk involved in primary markets.

Besides, he said, the issue has been priced competitively, considering the big appetite for branded saris in the Indian markets.

when the shares will be bought back if fall below issue price ,any time frame. what is the methoology

In all terms Sai Silk issue stands flopped. Safety Net without the involvement of company''s banker or BRLM evinced no confidence. Pricing was aggressive and rating was poor. One must recall the history of Usher Agro that also came with IPO with Safety Net few year''s back.

KPPATEL#30. Chittorgarh board shows 87% subscription. The issue is not fully subscribed as it has not achieved the minimum subscription figure of 90% as prescribed by SEBI. Pl. enlighten.

What does it mean? Will it be withdrawn?

hii...

Would like to make correction on comment of Mr. unlisted....

Issue is Successful...

The final Data is
Total issue size is 1,18,66,600 i.e. considering usual higher price band of 75/-.
Total bids received 1,10,46,800 considering higher price band of 75/-
So thereby the issue stands to be subscribed by 0.94 times...


SO THE ISSUE IS SUCCESSFUL.... Would like to request Mr. Unlisted to apply his mind before giving any comments in public..

kp first cjk you proper data at exchange site
c exchange data ay

http://www.nseindia.com/marketinfo/ipochart/ipochart.jsp?issue=SSKLCUMUEQ&ir=I&cn=C&sd=D&cnlink=N

and if issue not subscribe 100 % that men it''s flop 0.94 men not fully subscribe it''s just completed as per low SEBI provide 10% less subscribe exempt
so first aware proper

issue flop

final data

Total Issue Size      1,27,14,200
Total Bids Received      1,10,75,800
Total Bids Received at Cut-off Price      88,33,800
No. of times issue is subscribed      0.87

LAST FIGAR OF APPL SOME BUDY GIVE PLEASE

Is there any updation in Sai silks to any one ???

I have applied one applicaiton of 75000/-

You may get full allotment....

SAFETY NET ACTIVE IN SAI SILK TILL 1000 SHARE