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

Feb 11, 2013 - Feb 13, 2013

Incorporated in 2005, Sai Silks (Kalamandir) Ltd is in the business of retailing of sarees under the brand name of Kalamandir , Mandir and Varmahalakshmi. Company has a mainly presence in south India with network of 12 retail outlets. Sai Silks (Kalamandir) mainly focus on Women’s Ethnic wear.

Company's ranges of products are:

1. Sarees
2. Women’s dress materials
3. Men’s wear
4. Kid’s wear
5. Gold Jewellery & Silver Jewellery

Currently, they sell different varieties of sarees for different occasions and ready-made apparels for women, men and kids in their retail outlets. Sale of gold jewellery in their retail outlets under franchise model with its group concern Sai Swarnamandir Jewellers Private Limited ("SSJPL").

Company Promoters:

The promoters of the company are:

1. Mr. Chalavadi Naga Kanaka Durga Prasad
2. Mrs. Chalavadi Jhansi Rani

Objects of the Issue:

The object of the issue are to:

1. Setting up of Retail Outlets;
2. Expenses to be incurred for Brand Promotion;
3. Pre-payment of Term Loan facility;
4. Meeting Long Term Working Capital Requirement;
5. General Corporate Purposes; and
6. Issue Expenses.

Sai Silks Kalamandir ipo Details

IPO DateFeb 11, 2013 - Feb 13, 2013
Issue TypeBook Built Issue IPO
Issue Size[.] Eq Shares of ₹10
(aggregating up to ₹89.00 Cr)
Face Value₹10 Per Equity Share
IPO Price₹70 to ₹75 Per Equity Share
Market Lot200 Shares
Min Order Quantity200 Shares
Listing AtBSE, NSE

Sai Silks Kalamandir ipo Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum1200₹15,000
Maximum132600₹195,000

ICRA has assigned an IPO Grade 2 to Sai Silks (Kalamandir) Ltd IPO. This means as per ICRA, company has 'Below Average Fundamentals'. ICRA assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Read Sai Silks (Kalamandir) IPO Report

Sai Silks Kalamandir ipo Subscription Status (Bidding Detail)

Sai Silks Kalamandir ipo how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

QIB

NII

RII

Total

Shares Offered

1,271,420

4,449,970

6,992,810

12,714,200

Feb 13, 2013 17:00

0.00x

0.43x

1.31x

0.87x

Sai Silks Kalamandir ipo Prospectus

Sai Silks Kalamandir ipo Rating

128
2.5
Rating:Rated 2.5 stars

Vote Here ...

Sai Silks Kalamandir ipo Reviews / Ratings

Company Contact Information

Sai Silks (Kalamandir) Ltd
6-3-790/8, Flat No. 1,
Bathina Apartments,
Ameerpet, Hyderabad – 500 016

Phone: +91-040-6656 6555
Email: info@kalamandir.com
Website: http://www.kalamandir.com

Sai Silks Kalamandir ipo Registrar

Bigshare Services Pvt Ltd
   1st Floor, Bharat Tin Works Building,
   Opp. Vasant Oasis,Makwana Road,
   Marol, Andheri(E), Mumbai - 400 059

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Sai Silks Kalamandir ipo FAQs

  1. 1. What is Sai Silks Kalamandir ipo?

    Sai Silks Kalamandir ipo is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹89.00 Crores.

    The issue price of the IPO is ₹70 to ₹75 Per Equity Share. The minimum order quantity is 200 Shares per application and the offer type is Book Built Issue.

    The IPO opens on Feb 11, 2013 and closes on Feb 13, 2013.

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

  2. 2. When Sai Silks Kalamandir ipo will open?

    The Sai Silks Kalamandir ipo opens on Feb 11, 2013 and closes on Feb 13, 2013.

  3. 3. How to apply for Sai Silks Kalamandir ipo?

    Sai Silks Kalamandir ipo application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.

  4. 4. When Sai Silks Kalamandir ipo allotment?

    The finalization of Basis of Allotment for Sai Silks Kalamandir ipo will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Sai Silks Kalamandir ipo allotment status.

  5. 5. When is Sai Silks Kalamandir ipo listing date?

    The Sai Silks Kalamandir ipo listing date is not yet announced. The tentative date of Sai Silks Kalamandir ipo listing is [.].
  6. 6. What is the lot size of Sai Silks Kalamandir ipo?

    Sai Silks Kalamandir ipo lot size is 200 Shares and the minimum order quantity is 200 Shares.

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Sai Silks Kalamandir ipo Review / Comments

hbk
45. hbk  Feb 21, 2013 10:51
IPO withdrwan.
ASBA removed on 20/2/2013 evening.
SARBANANDA GATTANI
44. SARBANANDA GATTANI  Feb 19, 2013 10:15

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
Dilip Davda
43. Dilip Davda  Feb 19, 2013 09:54
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

Dilip Davda
SEBI registered Research Analyst
Mumbai

Read my IPO Reviews

gundu anna
42. gundu anna  Feb 18, 2013 21:00
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
FINALLY GOOD NEWS!!!

Now ALL RETAIL HAVE SAFETY NET.....

hehehehe.....
gundu anna
41. gundu anna  Feb 18, 2013 20:55
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
*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....
Renu Kumar
40. Renu Kumar  Feb 18, 2013 19:45
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
karthikeyan
40.1. karthikeyan  Feb 19, 2013 11:12
I have also applied for NTPC OFS through sharekhan, not yet got the application status nor refund and allotment
SARBANANDA GATTANI
39. SARBANANDA GATTANI  Feb 18, 2013 19:12
WHEN WILL WE GET OUR ASBA CLEARED SINCE IPO IS WITHDRAWN
Ken shah
38. Ken shah  Feb 18, 2013 10:39
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
Sameer Bhatia
38.1. Sameer Bhatia  Feb 18, 2013 13:18
Can you please tell from where get this information?
SARBANANDA GATTANI
37. SARBANANDA GATTANI  Feb 17, 2013 09:57
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
santonu
36. santonu  Feb 16, 2013 09:29
Top Contributor Top Contributor (200+ Posts)
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
gundu anna
35. gundu anna  Feb 15, 2013 18:54
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
I HAVE NOT APPLIED FOR SAI SILK IPO....BE CAREFUL WITH YOUR MONEY....
HIREN GANDHI
34. HIREN GANDHI  Feb 15, 2013 16:36
SSKL IPO CANCEL ..
K P Patel
33. K P Patel  Feb 14, 2013 11:26
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.
santonu
33.1. santonu  Feb 14, 2013 14:52
Top Contributor Top Contributor (200+ Posts)
when the shares will be bought back if fall below issue price ,any time frame. what is the methoology
Dilip Davda
32. Dilip Davda  Feb 14, 2013 10:54
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.



Dilip Davda
SEBI registered Research Analyst
Mumbai

Read my IPO Reviews

Rkg
31. Rkg  Feb 14, 2013 05:14
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
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.
Sameer Bhatia
31.1. Sameer Bhatia  Feb 14, 2013 10:10
What does it mean? Will it be withdrawn?
K P Patel
30. K P Patel  Feb 13, 2013 19:14
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..
unlisted
30.1. unlisted  Feb 13, 2013 22:05
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
unlisted
29. unlisted  Feb 13, 2013 18:51
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
RAJA RAJKOT
28. RAJA RAJKOT  Feb 13, 2013 18:15
LAST FIGAR OF APPL SOME BUDY GIVE PLEASE
Tiger n Tiger
27. Tiger n Tiger  Feb 13, 2013 15:01

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

I have applied one applicaiton of 75000/-

gundu anna
27.1. gundu anna  Feb 13, 2013 16:03
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
You may get full allotment....
GENIUS
26. GENIUS  Feb 13, 2013 08:28
SAFETY NET ACTIVE IN SAI SILK TILL 1000 SHARE






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