Sai Silk Kalamandir is into Consumer Apparel Retail and is looking raise funds through Fresh Issue & Offer for Sale
Sai Silk Kalamandir IPO Update:
Sai Silks (Kalamandir) Limited IPO: Hyderabad based Sai Silks (Kalamandir) Limited established in the year 2005 and is into Consumer - Apparel Retail sector. it is promoted by Nagakanaka Durga Prasad ChalavadiandJhansi Rani Chalavadi. Pre-Offer Promoter and Promoter group stake in the company is 95.23%.
Sai Silks (Kalamandir) Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 1,201 Crores calculated on upper price band (face value of INR 2 per share) via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs 600 crores and an Offer for Sale up to 27,072,000 Equity Shares.. Motilal Oswal Investment Advisors, HDFC Bank, Nuvama Wealth Management have been appointed as lead merchant bankers for the proposed IPO. It has appointed Bigshare Services Pvt. Ltd. as Registrar and Share transfer Agent.
Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 210 to Rs 222 with lot size of 67 shares and in multiples thereof. Objects of the issue is 1) Funding capital expenditure towards setting-up of 30 new stores - Rs. 125 crores, 2) Funding capital expenditure towards setting-up of two warehouses - Rs. 25.4 crores, 3) Funding working capital requirements - Rs. 280 crores, 4) Repayment or pre-payment, in full or part, of certain borrowings - Rs. 50 crores., and 5) General corporate purposes.
IPO Dates:
IPO will open on September 20, 2023 and close on September 20, 2023. Tentative date of listing on stock exchanges is October 04, 2023
About Industry:
The share of organised apparel retail which was 32% in 2020 is expected to increase to 48% in 2027. (Source: Technopak Report) The share of organised retail in women’s apparel, which was 14% in Fiscal 2015, increased to 31% in Fiscal 2022 and is expected to reach 44% by Fiscal 2028, amounting to ₹ 1,754.44 billion.
Want to know more details about the IPO, please visit here Sai Silks (Kalamandir) Limited
Source: SEBI, BSE, NSE, DRHP, Sai Silk Kalamandir, Industry Data
Disclaimer: Above article only publishes details about the IPO and for educational purpose only. It doesn't solicit or invite any interest to invest in any kind of securities. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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