Sai Silks (Kalamandir) Limited IPO
Sai Silks (Kalamandir) Limited IPO
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Sai Silks (Kalamandir) Limited's successfully completed its Initial Public Offering and commenced trading on 27-09-2023 at the NSE, BSE exchange. The company raised 5,40,99,027 Shares through this public offering, comprising 2,70,27,027 Shares in fresh capital and ₹601.00 Cr through the Offer for Sale mechanism.
The IPO was priced within the band of ₹210 to ₹222, with minimum application lots of 67 shares. The offering attracted significant investor interest during its subscription period from 20-09-2023 to 22-09-2023.
Share allotment was finalized on 25-09-2023, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Sai Silks IPO About Company
Incorporated in 2005, Sai Silks (Kalamandir) Limited is a South India-based retailer of ethnic apparel and value-fashion products, offering a wide range of ultra-premium and premium sarees for weddings, parties, occasions, and daily wear, along with lehengas, men’s and children’s ethnic wear, and fusion and western wear. The company operates four store formats: Kalamandir for middle-income contemporary ethnic fashion, VaraMahalakshmi Silks for premium silk sarees and handlooms, Mandir for ultra-premium designer sarees targeting high net worth individuals, and KLM Fashion Mall for affordable value fashion. Sai Silks also sells through its website and other e-commerce platforms. As of July 31, 2023, it has 54 stores across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu with a total area of approximately 603,414 sq. ft. The company recorded revenues of ₹13,514.69 million in FY23, ₹11,293.23 million in FY22, and ₹6,772.48 million in FY21.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sai Silks IPO Strength Factors
NA
Sai Silks IPO Risk Factors
NA
Sai Silks IPO Lead Manager(s)
- Motilal Oswal Investment Advisors Limited
- Hdfc Bank Limited
- Nuvama Wealth Management Limited
Sai Silks IPO Promoter(s)
- Nagakanaka Durga Prasad Chalavadi
- Jhansi Rani Chalavadi
Sai Silks IPO FAQs
Sai Silks (Kalamandir) Limited IPO subscribed 4.4 times. The public issue subscribed 0.88 times in the retail category,12.35times in QIB, and 2.95 times in the HNI (10+) category byNovember 6, 2025 10:07:08 AM (Day 6).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sai Silks IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Sai Silks IPO FAQs
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