Sai Silks (Kalamandir) IPO Details
Issue Date
--
Price Range
₹222
Lot Size
67
IPO Size
₹1201.00 Cr
Sai Silks (Kalamandir) IPO Listing Details
Listing On
27 Sep'23
Issue Price
--
Listed Price
₹ 231
Retail Gain/Listing Gain
▲4.05%
Schedule of Sai Silks (Kalamandir) IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
27/09/2023
Company Background
Sai Silks (Kalamandir) Limited is among the top 10 retailers of ethnic apparel, particularly sarees, in south India, in terms of revenues and profit after tax in Fiscal 2020, 2021 and 2022 (Source: Technopak Report). Through its four store formats, i.e. Kalamandir, VaraMahalakshmi Silks, Mandir and KLM Fashion Mall, the company caters to various segments of the market, including 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.
Apart from the masses, the company launched “Valli Silks,” which is a combination of the KLM Fashion Mall and VaraMahalakshmi Silks store formats, in December 2022. To cater to niche segments available in certain geographies, the company has created derivates of its existing formats. For instance, in September 2022, they launched “Kalamandir Royale,” where they offer products with higher price points and more exclusive collections.
The company’s EBITDA increased from Rs. 623.61 in Fiscal 2021, to Rs. 2,125.31 in Fiscal 2023 (In Rupees Million). The EBITDA margin increased from 9.21% to 15.73% respectively, for the same Fiscal period.
With that, let's take a look at the competitive strengths and risk factors for Sai Silks (Kalamandir) Limited:
Competitive Strengths
Well-positioned to leverage growth in the ethnic and value-fashion apparel industry in India
Strong presence in offline and online marketplace with an omnichannel network
Track record of growth, profitability and unit economics with an efficient operating model
Risk Factors
- The business is highly concentrated on the sale of women’s sarees and is vulnerable to variations in demand and changes in consumer preference.
- The company may be exposed to risks associated with leasing real estate (for their physical stores).
- The company operates in a largely fragmented market with unorganised and single-store players.
Key Strategies
- Expand footprint within India.
- Increase focus on the sale of products through e-commerce.
- Leverage technology to bring cost efficiency and enhance customer experience.
Key Financials
Here are the key financials for Sai Silks (Kalamandir) Limited
How to apply for IPO through ASBA
Kotak Neo
•00m 59s
Sai Silks (Kalamandir) IPO FAQs
The Sai Silks (Kalamandir) IPO opens for subscription from [-] to [-], with a total issue size of ₹1201.00 Cr. The IPO price band is ₹222 to ₹0 per share with a lot size of 67. The company aims to list the shares on BSE & NSE on 27-09-2023.
The Sai Silks (Kalamandir) IPO will open for subscription on [-] and will close on [-] for investors.
The minimum lot size for the Sai Silks (Kalamandir) IPO is 67 equity shares, requiring a minimum investment of ₹[-] for retail investors applying in the IPO.
The price band of the Sai Silks (Kalamandir) IPO has been fixed at ₹222 to ₹0 per equity share.
You can apply for the Sai Silks (Kalamandir) IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
Sai Silks (Kalamandir) IPO allotment will take place on [-].
You can check the Sai Silks (Kalamandir) IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
Sai Silks (Kalamandir) shares will list on the stock exchanges on 27-09-2023.
The Sai Silks (Kalamandir) Limited IPO has an issue size of Rs. 1,201 crores. The IPO opens for subscription on 20th September and closes on 22nd September 2023.
Bigshare Services Private Limited is the registrar for this IPO.
You may read more about Sai Silks (Kalamandir) Limited and its IPO from the company’s red herring prospectus (RHP) here:
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