Sai Silks plans Rs 89 cr public issue

Textile retailer Sai Silks (Kalamandir) will be making a debut in the capital market with an initial public offering to raise Rs 89 crore.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap SME Special
Moneycontrol

Home » News » IPO » IPO - Upcoming Issues

Feb 04, 2013, 05.52 PM | Source: Business Line

Sai Silks plans Rs 89 cr public issue

Textile retailer Sai Silks (Kalamandir) will be making a debut in the capital market with an initial public offering to raise Rs 89 crore.

Like this story, share it with millions of investors on M3

Sai Silks plans Rs 89 cr public issue

Textile retailer Sai Silks (Kalamandir) will be making a debut in the capital market with an initial public offering to raise Rs 89 crore.

Post Your Comments

Share Cancel

Textile retailer Sai Silks (Kalamandir) will be making a debut in the capital market with an initial public offering to raise Rs 89 crore.

The company, which has a retail chain of women's, kids and men’s wear, has filed a red-herring prospectus with the SEBI for the IPO.

The promoter group of the company includes Chalavadi Naga Kanaka Durga Prasad, Chalavadi Jhansi Rani and their immediate relatives.

The core business of the firm is retailing of saris, women dress materials, men and kids wear, and sales of gold and silver jewellery. The company has 15 retail outlets across Hyderabad, Guntur, Vijayawada, Bangalore, Kanchipuram and Hanumakonda with cumulative spread of over 1.29 lakh sq feet.

As of March 31st, 2012, the net worth of the company was at Rs 47.65 crore. The company had reported total revenues of Rs 262.76 crore, out of which Rs 163.02 crore was from saris, dress materials and other clothing division and Rs 99.50 crore from gold, silver and diamond jewellery articles last fiscal. The net profit for the period was at Rs 11.69 crore

The issue is being made through the 100 per cent book-building process, with 10 per cent of the issue to be allocated on a proportionate basis to qualified institutional buyers and not less than 55 per cent for retail investors.

The shares are proposed to be listed on the BSE and the NSE.

The book running lead managers to the issue are Ashika Capital and Vivro Financial Services.

Buy, Hold, Sell ? Hear it first on M3
Sai Silks plans Rs 89 cr public issue

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login