{"id":109969,"date":"2023-09-14T13:18:49","date_gmt":"2023-09-14T07:48:49","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=109969"},"modified":"2023-09-14T13:18:54","modified_gmt":"2023-09-14T07:48:54","slug":"on-september-20-the-public-will-be-able-to-subscribe-to-the-sai-silks-ipo","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/on-september-20-the-public-will-be-able-to-subscribe-to-the-sai-silks-ipo\/","title":{"rendered":"On September 20, the public will be able to subscribe to the Sai Silks IPO"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4122919020\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Ethnic apparel retailer Sai Silks (Kalamandir) Ltd. on Wednesday said that on September 20 its initial share sale will open for public subscription.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4291247093\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>On September 18 bidding will open for anchor investors.<\/p><p>According to the Red Herring Prospectus (RHP), The offer of Sai Silks (Kalamandir) Ltd (SSKL) comprises fresh issue of equity shares worth up to Rs 600 crore and an Offer for Sale (OFS) component of up to 2.70 crore equity shares by promoters and promoter entities.<\/p><p>Under the OFS, Nagakanaka Durga Prasad Chalavadi, Jhansi Rani Chalavadi, Dhanalakshmi Perumalla, Doodeswara Kanaka Durgarao Chalavadi, Kalyan Srinivas Annam, Subash Chandra Mohan Annam and Venkata Rajesh Annam will be selling the shares.<\/p><div class=\"trade-content_5\" id=\"trade-2603864058\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The Hyderabad-based saree retailer is yet to announce the price band for the Initial Public Offering (IPO), which will conclude on September 22.<\/p><p>Sai Silks has revised its OFS size from 1.80 crore equity shares to 2.70 crore equity shares.<\/p><p>Qualified Institutional Buyers (QIB) will receive half of the public issue size, non-institutional investors will receive 15%, and retail investors will receive the remaining 35%. A maximum of 60% of the QIB portion may be allocated to anchor investors.<\/p><p>Proceeds from the fresh issue worth up to Rs 125 crore will be used for funding capital expenditure towards setting up 30 new stores and up to Rs 25 crore for setting up two warehouses.<\/p><p>Also, the company plans to infuse up to Rs 280 crore for funding the working capital requirements and up to Rs 50 crore for repayment or pre-payment, in full or part, of certain borrowings availed by the firm.<\/p><p>The remaining funds will be used towards general corporate purposes. SSKL is promoted by Nagakanaka Durga Prasad Chalavadi and Jhansi Rani Chalavadi.<\/p><div class=\"trade-content-10\" id=\"trade-1717920896\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Book-running lead managers to the issue are Motilal Oswal Investment Advisors Ltd, HDFC Bank Ltd and Nuvama Wealth Management Ltd (formerly known as Edelweiss Securities Ltd).<\/p><p>The equity shares of the company will be listed on the BSE and NSE.<\/p><p>It has four store formats &#8212; Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall.<\/p><p>As of July 31, 2023, the company had a network of 54 stores in four major south Indian states &#8212; Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.<\/p><p>For the financial year that ended March 2023, SSKL posted a total revenue of Rs 1,351 crore with a net profit of Rs 97.6 crore.&nbsp;<\/p><div class=\"trade-after-content\" id=\"trade-1006341556\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Ethnic apparel retailer Sai Silks (Kalamandir) Ltd. on Wednesday said that on September 20 its initial share sale will open for public subscription. On September 18 bidding will open for anchor investors. According to the Red Herring Prospectus (RHP), The offer of Sai Silks (Kalamandir) Ltd (SSKL) comprises fresh issue of equity shares worth up [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":12545,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-109969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>On September 20, the public will be able to subscribe to the Sai Silks IPO - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Ethnic apparel retailer Sai Silks (Kalamandir) Ltd. on Wednesday said that on September 20 its initial share sale will open for public subscription.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/on-september-20-the-public-will-be-able-to-subscribe-to-the-sai-silks-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"On September 20, the public will be able to subscribe to the Sai Silks IPO\" \/>\n<meta property=\"og:description\" content=\"Ethnic apparel retailer Sai Silks (Kalamandir) Ltd. on Wednesday said that on September 20 its initial share sale will open for public subscription.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/on-september-20-the-public-will-be-able-to-subscribe-to-the-sai-silks-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-14T07:48:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-14T07:48:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2021\/12\/textile.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/on-september-20-the-public-will-be-able-to-subscribe-to-the-sai-silks-ipo\/\",\"url\":\"https:\/\/tradebrains.in\/features\/on-september-20-the-public-will-be-able-to-subscribe-to-the-sai-silks-ipo\/\",\"name\":\"On September 20, the public will be able to subscribe to the Sai Silks IPO - 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