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    « Signatureglobal IPO listed at Rs. 444
    FII Data Today »
    Sai Silks IPO listed @ Rs. 231
    September 27, 2023 admin 12 comment Post Comment

    Sai Silks (Kalamandir) IPO GMP, Details to watch, Guidance & Subscription status @ Chanakyanipothi.com, India`s Oldest Investment & IPO website. 
    A legacy of 31 Years.
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    Sai Silks (Kalamandir) ipo

    Sai Silks (Kalamandir) IPO Guidance:
    Live Analysis in English
    @ https://youtu.be/5utOcZbh9gY
    Live Analysis in Gujarati @ https://youtu.be/FL9OxVT1nag
    1. Sari in India has very huge market and the company has achieved impressive market share of this market.
    2. The management is very focused on its market.
    3. Professional management
    4. Consistently profitable.
    5. Invest with long term angle. Strong returns expected.

    Sai Silks (Kalamandir) IPO Listing Review:
    The scrip listed at Rs. 231 as compared to its issue price of Rs.222. The premium is not significant. However we suggest to retain the shares, since it has all probability of higher valuations in coming  months.

    Sai Silks (Kalamandir) IPO Grey Market Premium  
    For latest updates of GMP, click

    Sai Silks (Kalamandir) IPO Subscription Status? 
    On 22 September 2023 @ 5.00 (Day 3) Closed 
    Review: QIB and HNIs supported the IPO
    QIB:             10664594  Shares  12.35 T
    NII(10L+):     2782172  Shares    2.95 T
    NII (<10L)    5564343   Shares    1.52 T
    NII (Total)     8346515  Shares    2.47 T
    RII:                19475200  Shares  0.88 T
    Total:          38486309  Shares    4.40 T

    Sai Silks (Kalamandir) IPO Promoters
    NAGAKANAKA DURGA PRASAD CHALAVADI AND JHANSI RANI CHALAVAD

    Sai Silks (Kalamandir) IPO Company Details

    Sai Silks (Kalamandir) 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 its four store formats, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall, it offers its 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. It leverages its 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.

    The share of organized retailing in apparel has increased from 14% in Fiscal 2007 to 32% in Fiscal 2020. The evolution of the market, in its current phase, represents distinct segmentation of channels of organized retail for apparel. This phase also represents emergence of category leaders in respective groups of western (formal and casual), Indian, and athleisure.

    Historically, the ethnic retail trade of sarees was dominated by unorganized players in small format stores with a very few organized players. (Source: Technopak Report) Its founders recognised the opportunity and in order to address the gap in the market, it commenced operations in 2005. Today, it offers one of the widest portfolios of saree SKUs among women’s apparel brands in India.with large retail outlets that provide customers a wide variety of options in ethnic wear across various price points.

    Its business was founded by its Managing Director, Nagakanaka Durga Prasad Chalavadi a first-generation entrepreneur. It commenced operations through its first ‘Kalamandir’ store in 2005 at Hyderabad, Telangana with a store size of 3,213 square feet and have over the years expanded to 46 stores in four south Indian states, i.e., Andhra Pradesh, Telangana, Karnataka and Tamil Nadu, with an aggregate area of approximately 550,815 square feet, as of May 31, 2022. As of May 31, 2022, its average store size, calculated on the basis of its operating stores, is 12,811 square feet for its Kalamandir format stores, 3,400 square feet for our Mandir format stores, 5,972 square feet for its VaraMahalakshmi format stores and 18,700 square feet for our KLM Fashion Mall format stores.

    For more information, click www.sskl.co.in

    Objects of the IPO
    The Company proposes to utilise the Net Proceeds towards funding the following objects:
    1. Funding capital expenditure towards setting-up of 25 new stores
    2. Funding capital expenditure towards setting-up of two warehouses;
    3. Funding working capital requirements of the Company;
    4. Repayment or pre-payment, in full or part, of certain borrowings availed by the Company

    Sai Silks (Kalamandir) IPO Details
    IPO opens on  20 September,2022
    IPO closes on  22 September,2022
    Issue Type Book Built Issue IPO
    Issue Size 540,99,027 Shares /Rs 1201 Cr
    * Fresh Issue 270,27,027 Sh/ Rs.600 Cr
    * Offer for Sale  270,72,000 Sh /Rs 601 Cr
       
    Face Value per share: Rs. 2
       
    Price Band Rs. 210-222
    Employee discount  Rs. 0 per share
    Retail Lot Size  67 Shares
    Listing will at  BSE, NSE
    Shares offered to Shares Rs.
    QIB (50 %)  27049514 600.50 Cr
    NII (15 %)  8114854 180.15Cr
    RII (35 %)  18934659 420.35 Cr
    Employees  0 0 Cr
    Total Shares  54099027 1201 Cr.
    Retail portion will be oversubscribed by  282607 Forms
    How much Shares to Apply? Rs.
    Min Retail Application 67 Sh 14,874
    Max Retail Application  871 Sh 1,93,362
    Small HNI (Min) application  938 Sh 2,08,236
    Small HNI (Max) application 4489 Sh 9,96,558
    Big HNI Application 4556 Sh 10,11,432
    Sai Silks (Kalamandir) IPO Tentative timetable
    IPO opens on 20 September,2022
    IPO Closes on 22 September,2022
    IPO Allotment on  27 September,2022
    Unblocking of ASBA  29 September,2022
    Credit to Demat Accounts  3 October,2022
    Listing on 4 October ,2022
    Registered Office of Sai Silks (Kalamandir)
    6-3-790/8, Flat No. 1 Bathina Apartments,
    Ameerpet Hyderabad 500 016
    Telangana, India
    Sai Silks (Kalamandir) IPO Lead Managers 
    Motilal Oswal Investment Advisors, Edelweiss Financial Services, HDFC Bank
    Registrar to Sai Silks (Kalamandir) IPO
    Bigshare Services Private Limited
    Sai Silks (Kalamandir) IPO Financial & Analytical Ratios
    Year Total Income Net Profit EPS RoNW
      Rs. Rs. Rs. %
    2019-20 1178.62 42.10 0.43 2.11
    2020-21 679.10 5.13 4.79 19.19
    2021-22  1133.02 57.69 8.11 24.56
    Book Value of the Share on 31.03.2023 Rs.33.02    
    Book Value of the Share after the IPO Rs.    
    Offer Price   Rs. 222    
    Ratio Analysis
    Upper Price Band/last EPS 27.37
    Upper offer price/Book Value Ratio 6.73
    Upper offer price/BV after IPO Ratio –

    Sai Silks (Kalamandir) IPO Peer Comparison

    As on date of RHP Total Income Rs. Face  PE
      Income Value Ratio of
      Rs. In Cr Rs  
    The IPO Company 1359 2 (?)
    Vedant Fashions  1395 1 71.29
    TCNS Clothing Co 1218 2 NA
    Go Fashion (India) 677 10 87.74
    Aditya Birla Fashion 12534 10 NA
    Shoppers Stop 4079 5 69.34
    Trent 8503 1 163.76

    # This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

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    Sai Silks (Kalamandir) IPO GMP

    « Signatureglobal IPO listed at Rs. 444
    FII Data Today »

    12 Comments on “Sai Silks IPO listed @ Rs. 231”

    1. Rakesh gupta September 21, 2023 at 8:27 pm

      Admin ji Please give target price for this share.

      Reply ↓
    2. divyamathur1612 September 21, 2023 at 1:42 pm

      The textile industry is the core part India’s cultural and economic heritage, and investing in Sai Silks Kalamandir allows me to preserve and protect this legacy.

      Reply ↓
    3. divyamathur1612 September 21, 2023 at 1:31 pm

      Sai Silks Kalamandir is an exciting propects for investors like me who want to invest in well established company.

      Reply ↓
    4. divyamathur1612 September 21, 2023 at 1:20 pm

      Sai Silk kalamandir is great company to invest in.

      Reply ↓
    5. Mani September 21, 2023 at 1:18 pm

      Inverters can trust Sai Silk Kala Mandir ethical and sustainable practices, making this IPO a compelling choice for investing

      Reply ↓
    6. divyamathur1612 September 21, 2023 at 1:11 pm

      Investing in Sai Silks Kalamandir aligns with my values and financial goals. Its not just about profits , its about investing in a brand with culture values.

      Reply ↓
    7. Akshay Kaushik September 21, 2023 at 12:46 pm

      Sai silk kalamandir’s IPO is an excellent way to invest in a company that values innovation and coustomer satisfaction.

      Reply ↓
    8. Akshay Kaushik September 21, 2023 at 12:40 pm

      Investing in Sai silk kalamandir’s IPO means getting a piece of company with a proven history of profitability and clear vision.

      Reply ↓
    9. Akshay Kaushik September 20, 2023 at 7:37 pm

      The exquisite selection of sarees on display caught my attention initially.

      Reply ↓
    10. Akshay Kaushik September 20, 2023 at 7:30 pm

      I particularly appreciate the attention to detail that goes into the every aspect of the store.

      Reply ↓
    11. Akshay Kaushik September 20, 2023 at 6:20 pm

      My recent visit to Sai silk kala mandir was a revelation in the world of saree shopping.

      Reply ↓
    12. Abhimanyu Sharma September 20, 2023 at 5:51 pm

      Sai Silks Kalamandir is a great opportunity to invest in.

      Reply ↓

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