-- / 67 shares

IPO Details

Issue Date

--

Investment/lot

--

Price Range

222

Lot Size

67

IPO Size

₹ 1201.00 Cr

IPO Listing Details

Listing On

27 Sep'23

Issue Price

--

Listed Price

₹ 231

Retail Gain/Listing Gain

4.05%

Start date

End date

Allotment of bids

Refund Initiation

Listing on exchange

Sai Silks (Kalamandir) Limited is among the top 10 retailers of ethnic apparel, particularly sarees, in south India, in terms of revenues and profit after tax in Fiscal 2020, 2021 and 2022 (Source: Technopak Report). Through its four store formats, i.e. Kalamandir, VaraMahalakshmi Silks, Mandir and KLM Fashion Mall, the company caters to various segments of the market, including premium ethnic fashion, ethnic fashion for middle-income and value-fashion, with a variety of products across different price points, thereby catering to customers across all market segments.

Apart from the masses, the company launched “Valli Silks,” which is a combination of the KLM Fashion Mall and VaraMahalakshmi Silks store formats, in December 2022. To cater to niche segments available in certain geographies, the company has created derivates of its existing formats. For instance, in September 2022, they launched “Kalamandir Royale,” where they offer products with higher price points and more exclusive collections.

The company’s EBITDA increased from Rs. 623.61 in Fiscal 2021, to Rs. 2,125.31 in Fiscal 2023 (In Rupees Million). The EBITDA margin increased from 9.21% to 15.73% respectively, for the same Fiscal period.

With that, let's take a look at the competitive strengths and risk factors for Sai Silks (Kalamandir) Limited:

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Well-positioned to leverage growth in the ethnic and value-fashion apparel industry in India
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Strong presence in offline and online marketplace with an omnichannel network
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Track record of growth, profitability and unit economics with an efficient operating model
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  • The business is highly concentrated on the sale of women’s sarees and is vulnerable to variations in demand and changes in consumer preference.
  • The company may be exposed to risks associated with leasing real estate (for their physical stores).
  • The company operates in a largely fragmented market with unorganised and single-store players.
  • Expand footprint within India.
  • Increase focus on the sale of products through e-commerce.
  • Leverage technology to bring cost efficiency and enhance customer experience.

Here are the key financials for Sai Silks (Kalamandir) Limited

Particulars (in Rs. million)

Particulars (in Rs. million)

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Top Sai Silks (Kalamandir) Ltd IPO FAQs

Sai Silks (Kalamandir) Ltd will list on 2023-09-27.

1201.00 is the issue size of Sai Silks (Kalamandir) Ltd IPO.

The price band of Sai Silks (Kalamandir) Ltd IPO is ₹222 to ₹0.

The Sai Silks (Kalamandir) Limited IPO has an issue size of Rs. 1,201 crores. The IPO opens for subscription on 20th September and closes on 22nd September 2023.

Bigshare Services Private Limited is the registrar for this IPO.

You may read more about Sai Silks (Kalamandir) Limited and its IPO from the company’s red herring prospectus (RHP) here:

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