Sai Silks (Kalamandir) Limited is one of the largest retailers of ethnic apparel, particularly sarees, in south India.
The company has four different format stores:
- Kalamandir: Here it offers contemporary ethnic fashion for the middle income, this includes varieties of sarees, such as Tusser, Silk, Kota, Kora, Khadi, Georgette, Cotton, and Matka.
- VaraMahalakshmi Silks: Here it offers premium ethnic silk sarees and handlooms targeting wedding and occasional wear, such as Banarasi, Patola, Kota, Kanchipuram, Paithani, and Organza, Kuppadam, with a focus on handlooms such as Kacheepuram silk sarees.
- Mandir: Here it offers ultra-premium designer sarees targeting high net worth individuals, such as designer sarees such as Banarasi, Patola, Ikat, Kanchipuram, Paithani, Organza, and Kuppadam.
- KLM Fashion Mall: Here it offers value fashion at affordable price points, such as fusion wear, sarees for daily wear, and western wear for women, men, and children.
As of May 31, 2022, the company has over 46 stores in four south Indian states namely Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, 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 company also offers its products through e-commerce channels which comprises its website sskl.co.in and other online e-commerce marketplaces.
Sai Silks (Kalamandir) IPO – Details
| IPO Opening Date | 20 September 2023 |
| IPO Closing Date | 22 September 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 5,40,99,027 Shares Worth ₹1201 Crore Fresh Issue: 2,70,27,027 Shares Worth ₹600.00 Crore Offer for Sale: 2,70,72,000 Shares Worth ₹601 Crore |
| Face Value | ₹2 per equity share |
| IPO Price | ₹210 – ₹222 |
| Market Lot | 67 Shares |
| Min Order | 67 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Sai Silks (Kalamandir) IPO – Date Schedule
| IPO Open Date | 20 September 2023 |
| IPO Close Date | 22 September 2023 |
| Basis of Allotment Date | 27 September 2023 |
| Initiation of Refunds | 29 September 2023 |
| Credit of Shares to Demat Account | 03 October 2023 |
| IPO Listing Date | 04 October 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 22 September 2023 |
Sai Silks (Kalamandir) IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 67 | 14,874 |
| Retail (Max) | 13 | 871 | 1,93,362 |
| S-HNI (Min) | 14 | 938 | 2,08,236 |
| S-HNI (Max) | 67 | 4489 | 9,96,558 |
| B-HNI (Min) | 68 | 4556 | 10,11,432 |
Competitive Strengths
- Among the leading ethnic and value-fashion retail company in south India having a portfolio of established formats with focused sales and marketing strategy.
- Leading ethnic wear retail brand in India with a scalable model, which is well positioned to leverage growth in the ethnic and value-fashion apparel industry in India.
- Strong presence in offline and online marketplace with an omni-channel network.
- Track record of growth, profitability and unit economics with an efficient operating model.
- Experienced Promoter, management and in-house teams with proven execution capabilities.
Company Promoters
- Nagakanaka Durga Prasad Chalavadi
- Jhansi Rani Chalavadi
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2020 | 1178.61 | 1125.24 | 42.09 | 164.69 |
| 31 March 2021 | 679.09 | 671.78 | 5.13 | 217.22 |
| 31 March 2022 | 1133.01 | 1055.73 | 57.68 | 260.48 |
| 31 March 2023 | 1358.92 | 1225.35 | 97.58 | 345.49 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 27.37 |
| Market Cap (₹ Cr.) | 3404.73 |
| ROE | 27.96 |
| ROCE | 23.55 |
| Debt/Equity | 0.87 |
| EPS (Rs) | 8.11 |
| RoNW | 24.56 |
Object Of The Issue
- Funding capital expenditure towards setting-up of 25 new stores.
- Funding capital expenditure towards setting-up of two warehouses.
- Funding working capital requirements of the Company.
- Repayment or pre-payment, in full or part, of certain borrowings availed by the Company.
- General corporate purposes.
Sai Silks (Kalamandir) IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 1 | Vedant Fashions Limited | 71.29 |
| 2 | 2 | TCNS Clothing Co. Limited | – |
| 3 | 10 | Go Fashion (India) Limited | 87.74 |
| 4 | 10 | Aditya Birla Fashion and Retail Limited | – |
| 5 | 5 | Shoppers Stop Limited | 69.34 |
| 6 | 1 | Trent Limited | 163.76 |
Sai Silks (Kalamandir) IPO Promoter Holding
| Pre Issue Share Holding | 95.24% |
| Post Issue Share Holding | 60.80% |
Sai Silks (Kalamandir) IPO Prospectus
Company Contact Information
| Sai Silks (Kalamandir) Limited 6-3-790/8, Flat No. 1 Bathina Apartments, Ameerpet Hyderabad – 500 016 Phone: +91 40 6656 6555 Email: secretarial@sskl.co.in Website: https://sskl.co.in/ |
Sai Silks (Kalamandir) IPO Registrar
| Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/ipo_status.html |
Sai Silks (Kalamandir) IPO Lead Manager(s)
| 1. Motilal Oswal Investment Advisors Limited 2. Hdfc Bank Limited 3. Nuvama Wealth Management Limited |
Sai Silks (Kalamandir) IPO FAQs
| What is Sai Silks (Kalamandir) IPO? Sai Silks (Kalamandir) IPO is a main-board IPO. The issue is priced at ₹210 to ₹222 per equity share. The IPO is to be listed on BSE & NSE. |
| When Sai Silks (Kalamandir) IPO will open? The IPO is to open on 20 September 2023 for QIB, NII, and Retail Investors. |
| What is Sai Silks (Kalamandir) IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Sai Silks (Kalamandir) IPO? You can apply Sai Silks (Kalamandir) IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Sai Silks (Kalamandir) IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Sai Silks (Kalamandir)”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Sai Silks (Kalamandir) IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Sai Silks (Kalamandir)”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Sai Silks (Kalamandir) IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Sai Silks (Kalamandir)”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Sai Silks (Kalamandir) IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Sai Silks (Kalamandir)”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Sai Silks (Kalamandir) IPO Size? Sai Silks (Kalamandir) IPO size is ₹1201 Crore. |
| What is Sai Silks (Kalamandir) IPO Price Band? Sai Silks (Kalamandir) IPO Price Band is ₹210 to ₹222. |
| What is Sai Silks (Kalamandir) IPO Minimum and Maximum Lot Size? The minimum bid is 67 Shares with ₹14,874 amount while the maximum bid is 871 shares with ₹1,93,362. |
| What is the Sai Silks (Kalamandir) IPO Allotment Date? Sai Silks (Kalamandir) IPO allotment date is 27 September 2023. |
| What is the Sai Silks (Kalamandir) IPO Listing Date? Sai Silks (Kalamandir) IPO listing date is 04 October 2023. The IPO is to list on BSE and NSE. |
