{"id":110086,"date":"2023-09-15T11:51:15","date_gmt":"2023-09-15T06:21:15","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=110086"},"modified":"2023-09-15T11:51:20","modified_gmt":"2023-09-15T06:21:20","slug":"sai-silks-sets-a-price-range-of-rs-210-222-for-their-ipo-of-rs-1201-crore","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/sai-silks-sets-a-price-range-of-rs-210-222-for-their-ipo-of-rs-1201-crore\/","title":{"rendered":"Sai Silks sets a price range of Rs 210\u2013222 for their IPO of Rs 1,201 crore"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-991820617\"><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>For initial share sales, On Thursday Ethnic apparel retailer Sai Silks (Kalamandir) fixed a price band of Rs 210-222 per share for its Rs 1,201 crore, which opens on September 20.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3086227294\"><!-- 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>The Initial Public Offering (IPO) will bring in around Rs 1,201 crore at the top of the price range.<\/p><p>The Hyderabad-based company was founded by Prasad Chalavadi, a techie turned entrepreneur in 2005.<\/p><p>The offer consists of Rs 600 crore of fresh issue and an equal amount of Offer For Sale (OFS) through which the promoter family will divest 30 per cent of their 95.5 per cent shareholding, Chalavadi said.<\/p><div class=\"trade-content_5\" id=\"trade-3369847053\"><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 remaining 4.5 per cent of the bootstrapped ethnic retailer of premium and mid-income women&#8217;s wear primarily sarees, are with the employees, he added.<\/p><p>The floor price and cap price are 105 times and 111 times the face value of the shares, respectively, at a price band of Rs 210 per share.<\/p><p>The OFS comprises promoters and some of the employers selling up to 2.70 crore equity shares.<\/p><p>Nagakanaka Durga Prasad Chalavadi, Jhansi Rani Chalavadi, Dhanalakshmi Perumalla, Doodeswara Kanaka Durgarao Chalavadi, Kalyan Srinivas Annam, Subash Chandra Mohan Annam and Venkata Rajesh Annam are the selling promoters.<\/p><p>Post issue, the promoters will hold 60 per cent of equity in the company, which has 54 showrooms across Telangana, Andhra Pradesh, Karnataka and Tamil Nadu.<\/p><p>Chalavadi said a portion of the IPO proceeds will be used to open 30 more stores in Tamil Nadu, which is its focus market now. Each store on average will involve around Rs 2.5 crore of capex, leading to an outgo of Rs 125 crore.<\/p><div class=\"trade-content-10\" id=\"trade-1908840607\"><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>Qualified institutional buyers will receive 50% of the issuance, followed by non-institutional investors receiving 15% and retail investors receiving the remaining 35%. A maximum of 60% of the QIB portion may be allocated to anchor investors.<\/p><p>In fiscal 2023, Sai Silks posted revenues of Rs 1,351 crore with a net profit of Rs 97.6 crore.&nbsp;<\/p><div class=\"trade-after-content\" id=\"trade-3765400876\"><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>For initial share sales, On Thursday Ethnic apparel retailer Sai Silks (Kalamandir) fixed a price band of Rs 210-222 per share for its Rs 1,201 crore, which opens on September 20. The Initial Public Offering (IPO) will bring in around Rs 1,201 crore at the top of the price range. The Hyderabad-based company was founded [&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-110086","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>Sai Silks sets a price range of Rs 210\u2013222 for their IPO of Rs 1,201 crore - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"For initial share sales, On Thursday Ethnic apparel retailer Sai Silks (Kalamandir) fixed a price band of Rs 210-222 per share for its Rs 1,201 crore, which opens on September 20.\" \/>\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\/sai-silks-sets-a-price-range-of-rs-210-222-for-their-ipo-of-rs-1201-crore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sai Silks sets a price range of Rs 210\u2013222 for their IPO of Rs 1,201 crore\" \/>\n<meta property=\"og:description\" content=\"For initial share sales, On Thursday Ethnic apparel retailer Sai Silks (Kalamandir) fixed a price band of Rs 210-222 per share for its Rs 1,201 crore, which opens on September 20.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/sai-silks-sets-a-price-range-of-rs-210-222-for-their-ipo-of-rs-1201-crore\/\" \/>\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=\"2023-09-15T06:21:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-15T06:21:20+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\/sai-silks-sets-a-price-range-of-rs-210-222-for-their-ipo-of-rs-1201-crore\/\",\"url\":\"https:\/\/tradebrains.in\/features\/sai-silks-sets-a-price-range-of-rs-210-222-for-their-ipo-of-rs-1201-crore\/\",\"name\":\"Sai Silks sets a price range of Rs 210\u2013222 for their IPO of Rs 1,201 crore - 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