Sai Silks (Kalamandir) Limited

KALAMANDIR

Closed

₹210-222

per share

Bidding Dates

20-22 Sep

Min. Investment

₹14,070.00

Lot Size

67 shares

Issue Size

₹1201 Cr

IPO Timeline

Bidding starts

20 Sep ‘23

Bidding ends

22 Sep ‘23

Allotment finalisation*

27 Sep ‘23

Refund initiation*

29 Sep ‘23

Demat transfer

03 Oct ‘23

Listing

04 Oct ‘23

* Refund is a 7-10 days process. If you don’t get refund then please contact your bank.

About Sai Silks (Kalamandir) Limited IPO

Incorporated in 2005, Sai Silks (Kalamandir) Limited is among the top 10 retailers of ethnic apparel, particularly sarees, in south India based on revenue and profit in the last three fiscal years. It offers one of the widest portfolios of saree stock keeping units (SKUs) among women’s apparel brands in India.

The company operates four store formats - Kalamandir, VaraMahalakshmi Silks, Mandir and KLM Fashion Mall, each catering to customers across all market segments such as premium ethnic fashion, ethnic fashion for middle income, and value-fashion. It offers clothes suitable for daily and party wear for men, women and children.

As of 31 July 2023, the company operates a network of 54 stores across four south Indian states. It also operates online through its website and other e-commerce marketplaces. Company’s unique store experience combined with inventory and a large variety of SKUs has enabled it to attract and retain customers. Its total customer base exceeds over 5.98 million in India as of 31 July 2023.

The company saw a CAGR rise of over 25% in its revenue from operations and 167% in its profit in the last three fiscal years along with an EBITDA margin of 15% in FY23. Moreover, the share of organized retail in the apparel segment of India is expected to move from 39% in FY22 to 49% in FY27 which might be beneficial for the company.

And now, Sai Silks (Kalamandir) Limited is coming out with its initial public offer (IPO). The IPO will be an offer for sale as well as a fresh issue. The money raised through the fresh issue will be utilised for setting up 30 new stores and 2 warehouses, repaying borrowings, funding capital requirements and general corporate purposes. Its shares will be listed on the NSE and the BSE.

Here are key details about the Sai Silks (Kalamandir) IPO:

Company Name	Sai Silks (Kalamandir) Limited	Company Type	Private
Company Established On	2005	Sai Silks (Kalamandir) Limited IPO Opening Date	20th September, 2023
Sai Silks (Kalamandir) Limited IPO Closing Date	22nd September 2023	Sai Silks (Kalamandir) Limited IPO Allotment Status	27th September 2023
Credit of Shares to the Demat Account	3rd October 2023	Sai Silks (Kalamandir) Limited IPO Listing Date	4th October 2023
Sai Silks (Kalamandir) Limited IPO Face Value	₹ 2 per share	Sai Silks (Kalamandir) Limited IPO Lot Size	67 shares
Sai Silks (Kalamandir) Limited IPO Issue Size	Approx ₹1201 crore	Sai Silks (Kalamandir) Limited IPO to be Listed on	BSE, NSE
Sai Silks (Kalamandir) Limited IPO Price band	₹210 – ₹ 222 per share

Financial snapshot

Particulars	FY 21	FY 22	FY 23
Revenue	₹ 677 crore	₹ 1,129 crore	₹ 1,351 crore
Net Profit	₹ 5.13 crore	₹ 57.6 crore	₹ 97.5 crore

A quick look at Sai Silks (Kalamandir) Limited IPO’s strengths, risks and threats

Strengths

Operates in ethnic and value-fashion apparel industry in India which is expected to grow at a CAGR of 21% between FY22 and FY27.
Factors like higher brand consciousness, increasing digitization, greater purchasing power and increasing urbanization are likely to help company’s business.
Increased focus on online marketplace and e-commerce. Company’s website saw 6,463 average customer visits per day in FY23. Because of online expansion, the company's product has reached 25 states and six union territories in India.
Track record of growth, profitability and unit economics with an efficient operating model wherein its EBITDA stood at ₹62 crore, ₹133 crore and ₹212 crore in FY21, FY22 and FY23 respectively.
Among the leading ethnic and value-fashion retail companies in south India.

Risks and threats

Highly concentrated on the sale of women’s sarees which made up 68% of the total revenue from operations in FY23.
Generates substantially all its sales from stores located in Southern India.
Business requires high inventory costs which accounted for the total payables representing 15%, 11% and 17% of its revenue from operations in FY21, FY22 and FY23 respectively.
Operates in a fragmented market with unorganized and single store players.
Has incurred indebtedness and an inability to comply with repayment. It had total outstanding borrowings of ₹357 crore as of 31 July 2023.

Sai Silks (Kalamandir) Limited IPO details

| Sai Silks (Kalamandir) Limited IPO date

According to the offer document filed by the company with the SEBI, the Sai Silks (Kalamandir) IPO’s opening date – in other words, the Sai Silks (Kalamandir) IPO launch date – will be 20th September 2023. The Sai Silks (Kalamandir) IPO closing date is 22nd September 2023. After this, investors will be updated about the allotment status on 27th September 2023.

Investors, who have been allotted shares, can expect them to be credited to their demat account on 3rd October 2023. The Sai Silks (Kalamandir) IPO listing date is 4th October 2023. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE.

| Sai Silks (Kalamandir) Limited IPO price band

The IPO is an offer for sale as well as a fresh issue. The Sai Silks (Kalamandir) IPO price band has been set between ₹210 and ₹222 per share. Interested investors can choose a price within this band to apply for the IPO.

The Sai Silks (Kalamandir) IPO listing price will be determined on 4th October 2023. The listing price is the price at which a company’s shares debut on the stock exchanges.

| Sai Silks (Kalamandir) Limited IPO lot size

The Sai Silks (Kalamandir) IPO details have been declared. The Sai Silks (Kalamandir) IPO lot size is set at 67 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Sai Silks (Kalamandir) IPO issue size is approx ₹1,201 crore.

How to pre-apply for the Sai Silks (Kalamandir) Limited IPO?

You can pre-apply for the Sai Silks (Kalamandir) Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription.

Follow these steps to pre-apply for the IPO:

Login to your Upstox account, using your six-digit PIN
After successfully logging in, click on ‘Discover’
On the Discover tab, you will find the ‘Invest in IPO’ section
Under the Invest in IPO section, look for the ‘ Sai Silks (Kalamandir) Limited IPO’ tab and click on it
Now fill in all the required information, like ‘bid price’ and ‘lot size’
Confirm and click on ‘Pre-Apply’
Accept the mandate on your UPI app

How to apply for the Sai Silks (Kalamandir) Limited IPO?

If you are interested in this investment opportunity but unsure how to apply for the Sai Silks (Kalamandir) Limited IPO, here we are listing out the steps for you.

When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Sai Silks (Kalamandir) Limited IPO on Upstox:

Login to your Upstox account, using your six-digit PIN
After successfully logging in, click on ‘Discover’
On the Discover tab, you will find the ‘Invest in IPO’ section
Under the Invest in IPO section, look for the ‘ Sai Silks (Kalamandir) Limited IPO’ tab and click on it
Now fill in all the required information, like ‘bid price’ and ‘lot size’
Confirm and click on ‘Apply’
Accept the mandate on your UPI app

How to check the Sai Silks (Kalamandir) Limited IPO allotment status?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes.

Here’s a step-by-step guide on how to check the Sai Silks (Kalamandir) Limited IPO allotment status:

Login to your Upstox account, using your six-digit PIN
After successfully logging in, click on ‘Discover’
On the Discover page, you will find the ‘Invest in IPO’ section
Under the Invest in IPO section, you will find the ‘View all’ option
Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
In the ‘IPO’ tab, click on ‘My applications’
In ‘My applications’, under the History section, your Sai Silks (Kalamandir) Limited IPO allotment status will be mentioned

Open a demat account with Upstox to apply for the Sai Silks (Kalamandir) Limited IPO

To apply for the Sai Silks (Kalamandir) Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.

Here is a step-by-step guide on how to open a demat account with Upstox:

Click here to visit the demat account opening page on the Upstox website.
Enter your phone number and other essential details to begin opening a demat account.
Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed.
Complete the e-verification using the OTP sent to your registered mobile number.

This is all it takes to open a demat account with Upstox. Easy and quick, right?

Upstox – trading app to apply for the Sai Silks (Kalamandir) Limited IPO

Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.

You can apply for the Sai Silks (Kalamandir) Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.

In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.

IPO analysis

Registrar information

Name

Bigshare Services Pvt Ltd

Phone number

+91 22 6263 8200

Email ID

ipo@bigshareonline.com

FAQs

How can you pre-apply for the Sai Silks (Kalamandir) IPO?

Pre-applying for the Sai Silks (Kalamandir) IPO means applying for this public issue before it goes live. Click here to pre-apply for the Sai Silks (Kalamandir) IPO on Upstox.

When does pre-apply for the Sai Silks (Kalamandir) IPO open and how can you pay for it?

You can pre-apply for the Sai Silks (Kalamandir) IPO from 2023. Once the IPO goes live, you will receive a UPI mandate. Accept this to block the IPO application amount and successfully place your bid.

How to apply for Sai Silks (Kalamandir) IPO? Or How to invest in the Sai Silks (Kalamandir) IPO?

You can apply on Upstox’s website and app, once the Sai Silks (Kalamandir) IPO opens for the subscription.

When does the Sai Silks (Kalamandir) IPO open and close for the subscription?

The Sai Silks (Kalamandir) IPO launch date is 20th September 2023. The Sai Silks (Kalamandir) IPO will be open for subscription till 22nd September 2023.

What’s the lot size and minimum investment needed for the Sai Silks (Kalamandir) IPO?

The Sai Silks (Kalamandir) lot size is 67 shares and the minimum investment required is ₹14,070.

What is the price band for the Sai Silks (Kalamandir) IPO?

The Sai Silks (Kalamandir) IPO price band is ₹210 – ₹222 per share.

What’s the size of the Sai Silks (Kalamandir) IPO?

The size of the Sai Silks (Kalamandir) IPO is approx. ₹1,201 crore.

How many bids can I place for the Sai Silks (Kalamandir) IPO?

You can place up to three bids for an application.

Can these bids be placed at different times during the IPO subscription period?

No, the bids have to be placed in one go. If you want to add an additional bid, then you would have to delete your application and re-apply.

When will Sai Silks (Kalamandir) shares be credited to your demat account?

If shares are allotted, then they will be credited to your demat account on 3rd October 2023.

Which exchanges will Sai Silks (Kalamandir) shares list on?

Sai Silks (Kalamandir) shares will be on NSE and BSE.

When will Sai Silks (Kalamandir) shares list on the exchanges?

Sai Silks (Kalamandir) shares’ listing date is 4th October 2023.