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Sai Silks Kalamandir IPO: Here's everything you need to know

The rupees 1,201-crore IPO of Sai Silks (Kalamandir) opened for bidding on Sept 20 and will close on Sept 22.

The company has set the price band in the range of rupees 210-222 apiece for the issue.

Sai Silks is amongst the top 10 retailers of ethnic apparel, particularly sarees, in South India in terms of revenues and PAT in FY22.

The issue includes a fresh share sale of rupees 600 crore, and an OFS of up to 2.70 crore equity shares by its promoter group shareholders.

Proceeds from fresh issue will be used to set up new stores, two warehouses, debt repayment and for working capital requirements. 

Investors can bid for a minimum of 67 equity shares and in multiples thereafter. Hence, one lot will cost rupees 14,874.

Ahead of the IPO, the firm raised 360.3 crore from 26 anchor investors by allocating 1.62 cr equity shares at a price of rupees 222 apiece.

The finalisation of the basis of allotment will be done on Sept 27, and the initiation of refunds will be done on Sept 29.

The company's shares are proposed to be listed on both BSE and NSE, with October 4 as the tentative date of listing.

Click here to know more about 
Sai Silks IPO.


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Sai Silks Kalamandir IPO: Here's everything you need to know

The rupees 1,201-crore IPO of Sai Silks (Kalamandir) opened for bidding on Sept 20 and will close on Sept 22.

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