Sai Silks Kalamandir, a retailer of sarees, opened its initial public offering of Rs 89 crore for subscription on February 11, at a price band of Rs 70-75 per share.
The company is majorly in the business of retailing of sarees under the brand name of "Kalamandir".
Sai Silks that started as a retailer of sarees in Hyderabad in August 2005 operates 12 retail outlets, which cumulatively spread over in more than 97,621 square feet.
Funds raised through the issue are proposed to be used for setting up of retail outlets; expenses to be incurred for brand promotion; pre-payment of term loan facility; long term working capital requirement; and general corporate purposes. The issue will close on February 13.
Ashika Capital Ltd and Vivro Financial Services Pvt Ltd are book running lead managers to the issue.
Also Read
Sai Silks provides safety net to investors for 6 months
SME: Kavita Fabrics IPO to open on February 20
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
