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Sai Silks (Kalamandir) Limited IPO (Sai Silks (Kalamandir) IPO) Detail

September 20, 2023 - September 22, 2023

Sai Silks (Kalamandir) IPO is a book built issue of Rs 1,201.00 crores. The issue is a combination of fresh issue of 2.7 crore shares aggregating to Rs 600.00 crores and offer for sale of 2.71 crore shares aggregating to Rs 601.00 crores.

Sai Silks (Kalamandir) IPO bidding started from September 20, 2023 and ended on September 22, 2023. The allotment for Sai Silks (Kalamandir) IPO was finalized on Wednesday, September 27, 2023. The shares got listed on BSE, NSE on September 27, 2023.

Sai Silks (Kalamandir) IPO price band is set at ₹210 to ₹222 per share. The minimum lot size for an application is 67 Shares. The minimum amount of investment required by retail investors is ₹14,874. The minimum lot size investment for sNII is 14 lots (938 shares), amounting to ₹208,236, and for bNII, it is 68 lots (4,556 shares), amounting to ₹1,011,432.

Motilal Oswal Investment Advisors Limited, Hdfc Bank Limited and Nuvama Wealth Management Limited are the book running lead managers of the Sai Silks (Kalamandir) IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Refer to Sai Silks (Kalamandir) IPO RHP for detailed information.

Sai Silks (Kalamandir) IPO Details

IPO Date September 20, 2023 to September 22, 2023
Listing Date September 27, 2023
Face Value ₹2 per share
Price Band ₹210 to ₹222 per share
Lot Size 67 Shares
Total Issue Size54,099,027 shares
(aggregating up to ₹1,201.00 Cr)
Fresh Issue27,027,027 shares
(aggregating up to ₹600.00 Cr)
Offer for Sale27,072,000 shares of ₹2
(aggregating up to ₹601.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding post issue153,366,112

Sai Silks (Kalamandir) IPO Reservation

Sai Silks (Kalamandir) IPO offers 54,099,027 shares. 10,819,807 (20.00%) to QIB, 8,114,854 (15.00%) to NII, 18,934,659 (35.00%) to RII 16,229,707 (30.00%) to Anchor investors. 282,606 RIIs will receive minimum 67 shares and 2,883 (sNII) and 5,767 (bNII) will receive minimum 938 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered16,229,707 (30.00%)NA
QIB Shares Offered10,819,807 (20.00%)NA
NII (HNI) Shares Offered8,114,854 (15.00%)
  bNII > ₹10L5,409,903 (10.00%)5,767
  sNII < ₹10L2,704,951 (5.00%)2,883
Retail Shares Offered18,934,659 (35.00%)282,606
Total Shares Offered54,099,027 (100%)

Sai Silks (Kalamandir) IPO Anchor Investors Details

Sai Silks (Kalamandir) IPO raises Rs 360.30 crore from anchor investors. Sai Silks (Kalamandir) IPO Anchor bid date is September 18, 2023. Sai Silks (Kalamandir) IPO Anchor Investors list

Bid Date September 18, 2023
Shares Offered 16,229,707
Anchor Portion Size (In Cr.) 360.30
Anchor lock-in period end date for 50% shares (30 Days) October 27, 2023
Anchor lock-in period end date for remaining shares (90 Days) December 26, 2023

Sai Silks (Kalamandir) IPO Timeline (Tentative Schedule)

Sai Silks (Kalamandir) IPO opens on September 20, 2023, and closes on September 22, 2023.

IPO Open Date Wednesday, September 20, 2023
IPO Close Date Friday, September 22, 2023
Basis of Allotment Wednesday, September 27, 2023
Initiation of Refunds Friday, September 29, 2023
Credit of Shares to Demat Tuesday, October 3, 2023
Listing Date Wednesday, September 27, 2023
Cut-off time for UPI mandate confirmation 5 PM on September 22, 2023

Sai Silks (Kalamandir) IPO Lot Size

Investors can bid for a minimum of 67 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 67 ₹14,874
Retail (Max) 13 871 ₹193,362
S-HNI (Min) 14 938 ₹208,236
S-HNI (Max) 67 4,489 ₹996,558
B-HNI (Min) 68 4,556 ₹1,011,432
Lot Size Calculator

Sai Silks (Kalamandir) IPO Promoter Holding

The promoters of the company are Nagakanaka Durga Prasad Chalavadi and Jhansi Rani Chalavadi.

Share Holding Pre Issue 95.23%
Share Holding Post Issue 60.80%

About Sai Silks (Kalamandir) Limited

Incorporated in 2005, Sai Silks (Kalamandir) Limited provides ethnic apparel and value-fashion products.

Inspired by India's vibrant culture, traditions, and heritage, the company offers a diverse range of products which includes 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.

Sai Silks has four different format stores:

  1. Kalamandir: Here it offers contemporary ethnic fashion for the middle income, this includes varieties of sarees, such as Tusser, Silk, Kota, Kora, Khadi, Georgette, Cotton, and Matka.
  2. VaraMahalakshmi Silks: Here it offers premium ethnic silk sarees and handlooms targeting wedding and occasional wear, such as Banarasi, Patola, Kota, Kanchipuram, Paithani, and Organza, Kuppadam, with a focus on handlooms such as Kacheepuram silk sarees.
  3. Mandir: Here it offers ultra-premium designer sarees targeting high net worth individuals, such as designer sarees such as Banarasi, Patola, Ikat, Kanchipuram, Paithani, Organza, and Kuppadam.
  4. KLM Fashion Mall: Here it offers value fashion at affordable price points, such as fusion wear, sarees for daily wear, and western wear for women, men, and children.

The company also offers its products through e-commerce channels which comprises its website sskl.co.in and other online e-commerce marketplaces.

As of July 31, 2023, the company has over 54 stores in four south Indian states namely Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, with an aggregate area of approximately 603,414 square feet. The company recorded Rs. 13,514.69 million, Rs. 11,293.23 million, and Rs. 6,772.48 million in revenue from operations in the fiscal 2023, 2022, and 2021 respectively.

Sai Silks (Kalamandir) Limited Financial Information (Restated)

Sai Silks (Kalamandir) Limited's revenue increased by 19.94% and profit after tax (PAT) rose by 69.17% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended31 Mar 202331 Mar 202231 Mar 202131 Mar 2020
Assets1,220.45842.49665.42692.76
Revenue1,358.921,133.02679.101,178.62
Profit After Tax97.5957.695.1342.10
Net Worth397.33300.66242.99231.51
Reserves and Surplus373.27276.60218.93208.05
Total Borrowing345.50260.49217.22164.70
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Sai Silks (Kalamandir) IPO is Rs 3404.73 Cr.

KPI Values
ROE27.96%
ROCE23.55%
Debt/Equity0.87
RoNW24.56%
Pre IPO Post IPO
EPS (Rs) 8.11
P/E (x) 27.3734.91

Objects of the Issue (Sai Silks (Kalamandir) IPO Objectives)

The company intends to utilize the net proceeds from the issue towards the funding of the following objects:

  1. Funding capital expenditure towards setting up 30 new stores.
  2. Funding capital expenditure towards setting-up of two warehouses.
  3. Funding the working capital requirements of the company.
  4. Repayment or pre-payment, in full or part, of certain borrowings availed by the company.
  5. General corporate purposes.

Sai Silks (Kalamandir) IPO Review (Apply)

[Dilip Davda]  After unsuccessful try for its maiden IPO in February 2013, the company has emerged one of the top 10 retailers in ethnic wares with major focus on sarees. After suffering a bit due to COVID impact till FY22, it has reported good numbers for FY23, indicating prospects ahead with additional new stores. Based on FY23 earnings, the issue appears fully priced. Well-informed investors may park funds for medium to long term rewards. Read detail review...


Sai Silks (Kalamandir) IPO Subscription Status (Bidding Detail)

The Sai Silks (Kalamandir) IPO is subscribed 4.47 times on September 22, 2023 7:02:00 PM. The public issue subscribed 0.91 times in the retail category, 12.17 times in the QIB category, and 2.54 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB12.17
NII2.54
    bNII (bids above ₹10L)3.03
    sNII (bids below ₹10L)1.57
Retail0.91
Total4.47

Total Application : 147,469 (0.52 times)

Sai Silks (Kalamandir) IPO Rating

15
2.3
Rating:Rated 2.3 stars
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Sai Silks (Kalamandir) IPO Listing Details

Listing Date September 27, 2023
BSE Script Code 543989
NSE Symbol KALAMANDIR
ISIN INE438K01021
Final Issue Price ₹222 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹222.00
₹230.10
₹230.10
₹246.85
₹244.85
NSE
₹222.00
₹231.00
₹230.95
₹247.00
₹244.90

Check IPO Performance…

Sai Silks (Kalamandir) Limited Contact Details

Sai Silks (Kalamandir) Limited
6-3-790/8, Flat No. 1
Bathina Apartments, Ameerpet
Hyderabad - 500 016
Phone: +91 40 6656 6555
Email: secretarial@sskl.co.in
Website: https://sskl.co.in/

Sai Silks (Kalamandir) IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html

Sai Silks (Kalamandir) IPO - Buy or Not

Sai Silks (Kalamandir) IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 13 1 0
Members 3 2 1

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Sai Silks (Kalamandir) IPO FAQs

Sai Silks (Kalamandir) IPO is a main-board IPO of 54,099,027 equity shares of the face value of ₹2 aggregating up to ₹1,201.00 Crores. The issue is priced at ₹210 to ₹222 per share. The minimum order quantity is 67 Shares.

The IPO opens on September 20, 2023, and closes on September 22, 2023.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Sai Silks (Kalamandir) IPO using UPI as a payment gateway. Zerodha customers can apply in Sai Silks (Kalamandir) IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Sai Silks (Kalamandir) IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Sai Silks (Kalamandir) IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Sai Silks (Kalamandir) IPO opens on September 20, 2023 and closes on September 22, 2023.

Sai Silks (Kalamandir) IPO lot size is 67 Shares, and the minimum amount required is ₹14,874.

You can apply in Sai Silks (Kalamandir) IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Sai Silks (Kalamandir) IPO will be done on Wednesday, September 27, 2023, and the allotted shares will be credited to your demat account by Tuesday, October 3, 2023. Check the Sai Silks (Kalamandir) IPO allotment status.

The Sai Silks (Kalamandir) IPO listing date is on September 27, 2023.
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Sai Silks (Kalamandir) IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Members with Most Likes

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807 Comments

339. Team TopShareBrokers |   Link |  Bookmark |October 5, 2023 11:42:00 AM
🔥🔥🔥🔥🔥
338. ramnarsaria |   Link |  Bookmark |September 29, 2023 1:31:49 PM
I HAD APPLIED 3 LOTS, 201 SHARES IN RETAIL, AND RETAIL PORTION WAS UNBOOKED, MY SBI ASBA BLOCKED THE AMOUNT AND SHOWED SUCCESSFULLY APPLIED,
BUT I DIDNT GET THE ALLOTMENT
IT IS IMPOSSIBLE TO CONTACT BIGSHARE OVER PHONE AND ON MAIL THEY HAVE REPLIED THAT WE ARE UNABLE TO FIND APPLICATION.
I WANT TO COMPLAIN THE MATTER TO SEBI BUT THE LINK PROVIDED IN SEBI WEBSITE TO REGISTER A COMPLAIN IS NOT WORKING.
BAHIUT BURA HAAL HAI SYSTEM KA.
337. Ram Bhakt |   Link |  Bookmark |September 28, 2023 3:03:28 PM
250 mark crossed today!

As mentioned earlier too - holding my 26 lots for 300. Time frame next 3 months
336. Ankshi |   Link |  Bookmark |September 28, 2023 2:16:34 PM
What is target for this company if I hold till diwali
335. HappyGoLucky |   Link |  Bookmark |September 28, 2023 9:29:13 AM (200+ Posts)
Sold 50% at 247 yesterday.
334. 👑 King HR |   Link |  Bookmark |September 27, 2023 11:08:12 AM
Sold all 40k profit

Confirm allotment me itna bhi mil gaya to bahot hai apne liye ll

@diwan kapoor Sir thanx for encouraging me 🙏
334.2. 👑 King HR |   Link |  Bookmark |September 27, 2023 11:27:45 AM
@diwan kapoor 🙏
334.3. Hariprasad |   Link |  Bookmark |September 27, 2023 11:16:58 PM
Still hold or sell at current level? I can hold for short term if it has growth potential. Please suggest. Thank you
333. Jetha Lal |   Link |  Bookmark |September 27, 2023 8:05:49 PM
IPO Guru IPO Guru (1000+ Posts, 2100+ Likes)
Bulk Deal.

333.2. Jetha Lal |   Link |  Bookmark |September 27, 2023 10:23:28 PM
IPO Guru IPO Guru (1000+ Posts, 2100+ Likes)
http://www.nseindia.com/get-quotes/equity?symbol=KALAMANDIR

Open NSE website > search your company> Historical Data > Block/Bulk Deals.

Though I check from StockEdge app.

Note : I don't want to promote any application on this forum, this is why first I gave NSE data( origin/source data).

Thanks 🙏
333.3. A prem |   Link |  Bookmark |September 27, 2023 11:14:49 PM
@Jetha Lal Bahut bahut dhanyawad sir
332. Anshujii |   Link |  Bookmark |September 27, 2023 7:16:54 PM
Top Contributor Top Contributor (700+ Posts, 100+ Likes)
Sold all 10 lots at an average of 242..
331. jitZ |   Link |  Bookmark |September 27, 2023 4:29:25 PM
LOOK AT THE VOLUME TRADED TODAY...
331.1. Param Patel |   Link |  Bookmark |September 27, 2023 4:40:39 PM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
Also look at delivery almost 74% it's huge
330. Crow |   Link |  Bookmark |September 27, 2023 1:00:07 PM
IPO Mentor IPO Mentor (900+ Posts, 1000+ Likes)
Good listing. Sold principal at 241. Today is a good day.
330.2. Crow |   Link |  Bookmark |September 27, 2023 1:36:47 PM
IPO Mentor IPO Mentor (900+ Posts, 1000+ Likes)
Thank you, @harit. But I was totally wrong on Signatureglobal India.
330.3. Voilazi |   Link |  Bookmark |September 27, 2023 4:14:46 PM
@Crow I still think this was a safer and better bet especially for retail, considering sure shot allotment. So heads up 👏🏼

Real Estate is double edged sword, there is no guarantee how Signatureglobal will behave in coming quarters while here I'm almost certain, that it'll improve.
329. jitZ |   Link |  Bookmark |September 27, 2023 3:59:08 PM
EXITED 2.5 SHNI LOTS...HAVE KEPT HALF OF ALLOTED FOR LONG TERM...
328. A.K. Goyal |   Link |  Bookmark |September 27, 2023 1:44:43 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
sold all 4 retail lots in preopen, Got 2k Happy
327. newgen consultancy |   Link |  Bookmark |September 27, 2023 11:46:29 AM
IPO Guru IPO Guru (3400+ Posts, 6500+ Likes)
Congratulations to all the allotment holders

Very decent and successful call from all of us

4% listing and now 10 % up
I am sure bulk deals have happened in open market

# Happy Investing

Can book 75% and hold remaining for 3-4 days
327.1. rohiitian |   Link |  Bookmark |September 27, 2023 12:33:24 PM
IPO Guru IPO Guru (1200+ Posts, 800+ Likes)
Thank you for giving us conviction. Have sold 1.5 lots at ~239, keeping 0.5 lots because momentum seems strong.
327.2. BrownAngrez |   Link |  Bookmark |September 27, 2023 1:00:59 PM
It was your conviction after which I applied for it.
Exited today @240 in 2 retail applications.

Thank you.
326. MAV |   Link |  Bookmark |September 27, 2023 12:58:26 PM
Booked decent profits in recent ipos SSKL and RR Kabel by blessings of Ganpati Bappa.
Thanks to all respected CG members for your valuable guidance and analysis.
325. jay here |   Link |  Bookmark |September 27, 2023 12:22:53 PM
IPO Mentor IPO Mentor (800+ Posts, 700+ Likes)
Sold all :)
Congrats for 5-7% to all risk takers.
324. dtrader |   Link |  Bookmark |September 27, 2023 10:59:03 AM (300+ Posts)
@Jetha Lal Based on your knowledge and conviction, dared to test my non allotment IPO accounts so far in my 1 year market journey and successful in doing so. Booked in preopen.

Thank you so much or your time, learnings and sharing important knowledge with us sir 🙏 😊
324.1. Jetha Lal |   Link |  Bookmark |September 27, 2023 12:07:04 PM
IPO Guru IPO Guru (1000+ Posts, 2100+ Likes)
@dtrader 
Congratulations:)
All the best for JSW.
Keep learning and keep earning:)
323. Hrishikeh |   Link |  Bookmark |September 27, 2023 11:50:04 AM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
sold 2 lots holding one lot
322. ultrasnow |   Link |  Bookmark |September 27, 2023 11:47:21 AM
Sold 70% of allotments
321. Trading Titan |   Link |  Bookmark |September 27, 2023 11:45:23 AM
This is Best Ever Listing.

Allotment was 100% guaranteed in Retail so I applied for full instead of sHNI.
Listing with 7% gain and I am sure it will cross 250 by today itself.

Hopefully will hold for long as I can see demand is huge
321.1. Trading Titan |   Link |  Bookmark |September 28, 2023 1:50:42 PM
Crossed 250 and sold 50% shares

Now holding 500 shares for 300+ :-)
320. VinShan |   Link |  Bookmark |September 27, 2023 11:35:29 AM
Bravo 👏👏👏
.
.
Congratulations to all ... Who dared...
And Have Faith in Brands like Kalamandir... have Faith in our traditional wear Saree ...
.
.
It's not an end ... It's just beginning... 🙏🎉