Sai Silks (Kalamandir) Limited

About the company

## **About Sai Silks (Kalamandir) Limited IPO** Incorporated in 2005, Sai Silks (Kalamandir) Limited is among the top 10 retailers of ethnic apparel, particularly sarees, in south India based on revenue and profit in the last three fiscal years. It offers one of the widest portfolios of saree stock keeping units (SKUs) among women’s apparel brands in India. The company operates four store formats - Kalamandir, VaraMahalakshmi Silks, Mandir and KLM Fashion Mall, each catering to customers across all market segments such as premium ethnic fashion, ethnic fashion for middle income, and value-fashion. It offers clothes suitable for daily and party wear for men, women and children. As of 31 July 2023, the company operates a network of 54 stores across four south Indian states. It also operates online through its website and other e-commerce marketplaces. Company’s unique store experience combined with inventory and a large variety of SKUs has enabled it to attract and retain customers. Its total customer base exceeds over 5.98 million in India as of 31 July 2023. The company saw a CAGR rise of over 25% in its revenue from operations and 167% in its profit in the last three fiscal years along with an EBITDA margin of 15% in FY23. Moreover, the share of organized retail in the apparel segment of India is expected to move from 39% in FY22 to 49% in FY27 which might be beneficial for the company. And now, Sai Silks (Kalamandir) Limited is coming out with its initial public offer (IPO). The IPO will be an offer for sale as well as a fresh issue. The money raised through the fresh issue will be utilised for setting up 30 new stores and 2 warehouses, repaying borrowings, funding capital requirements and general corporate purposes. Its shares will be listed on the NSE and the BSE. Here are key details about the Sai Silks (Kalamandir) IPO: Company Name| **Sai Silks (Kalamandir) Limited**|  | Company Type| **Private** ---|---|---|---|--- Company Established On|**2005**| ### **Financial snapshot** Particulars| FY 21| FY 22| FY 23 ---|---|---|--- Revenue|₹ 677 crore|₹ 1,129 crore|₹ 1,351 crore Net Profit|₹ 5.13 crore|₹ 57.6  crore|₹ 97.5  crore ---| ## **A quick look at  Sai Silks (Kalamandir) Limited** **IPO’s strengths, risks and threats** ### **Strengths** **** 1. Operates in ethnic and value-fashion apparel industry in India which is expected to grow at a CAGR of 21% between FY22 and FY27. 1. Factors like higher brand consciousness, increasing digitization, greater purchasing power and increasing urbanization are likely to help company’s business.  1. Increased focus on online marketplace and e-commerce. Company’s website saw 6,463 average customer visits per day in FY23. Because of online expansion, the company's product has reached 25 states and six union territories in India.  1. Track record of growth, profitability and unit economics with an efficient operating model wherein its EBITDA stood at ₹62 crore, ₹133 crore and ₹212 crore in FY21, FY22 and FY23 respectively.  1. Among the leading ethnic and value-fashion retail companies in south India. ### **Risks and threats** 1. Highly concentrated on the sale of women’s sarees which made up 68% of the total revenue from operations in FY23. 1. Generates substantially all its sales from stores located in Southern India. 1. Business requires high inventory costs which accounted for the total payables representing 15%, 11% and 17% of its revenue from operations in FY21, FY22 and FY23 respectively. 1. Operates in a fragmented market with unorganized and single store players.  1. Has incurred indebtedness and an inability to comply with repayment. It had total outstanding borrowings of ₹357 crore as of 31 July 2023. ## **Sai Silks (Kalamandir) Limited** **IPO details** ### **** **Sai Silks (Kalamandir) Limited** **IPO date** According to the offer document filed by the company with the SEBI, the Sai Silks (Kalamandir) IPO’s opening date – in other words, the Sai Silks (Kalamandir) IPO launch date – will be 20th September 2023. The Sai Silks (Kalamandir) IPO closing date is 22nd September 2023. After this, investors will be updated about the allotment status on 27th September 2023. Investors, who have been allotted shares, can expect them to be credited to their demat account on 3rd October 2023. The Sai Silks (Kalamandir) IPO listing date is 4th October 2023. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE. ### **** **Sai Silks (Kalamandir) Limited IPO price band** The IPO is an offer for sale as well as a fresh issue. The Sai Silks (Kalamandir) IPO price band has been set between ₹210 and ₹222 per share. Interested investors can choose a price within this band to apply for the IPO. The Sai Silks (Kalamandir) IPO listing price will be determined on 4th October 2023. The listing price is the price at which a company’s shares debut on the stock exchanges. ### **** **Sai Silks (Kalamandir) Limited IPO lot size** The Sai Silks (Kalamandir) IPO details have been declared. The Sai Silks (Kalamandir) IPO lot size is set at 67 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Sai Silks (Kalamandir) IPO issue size is approx ₹1,201 crore. ## **How to pre** **-apply for the Sai Silks (Kalamandir) Limited** **IPO?** You can pre-apply for the Sai Silks (Kalamandir) Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: 1. Login to your Upstox account, using your six-digit PIN 1. After successfully logging in, click on ‘Discover’ 1. On the Discover tab, you will find the ‘Invest in IPO’ section 1. Under the Invest in IPO section, look for the ‘ Sai Silks (Kalamandir) Limited IPO’ tab and click on it 1. Now fill in all the required information, like ‘bid price’ and ‘lot size’ 1. Confirm and click on ‘Pre-Apply’ 1. Accept the mandate on your UPI app ## **How to apply for the Sai Silks (Kalamandir) Limited** **IPO?** If you are interested in this investment opportunity but unsure how to apply for the Sai Silks (Kalamandir) Limited IPO, here we are listing out the steps for you. When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Sai Silks (Kalamandir) Limited IPO on Upstox: 1. Login to your Upstox account, using your six-digit PIN 1. After successfully logging in, click on ‘Discover’ 1. On the Discover tab, you will find the ‘Invest in IPO’ section 1. Under the Invest in IPO section, look for the ‘ Sai Silks (Kalamandir) Limited IPO’ tab and click on it 1. Now fill in all the required information, like ‘bid price’ and ‘lot size’ 1. Confirm and click on ‘Apply’ 1. Accept the mandate on your UPI app ## **How to check the Sai Silks (Kalamandir) Limited** **IPO** **allotment status?** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes. Here’s a step-by-step guide on how to check the Sai Silks (Kalamandir) Limited IPO allotment status: 1. Login to your Upstox account, using your six-digit PIN 1. After successfully logging in, click on ‘Discover’ 1. On the Discover page, you will find the ‘Invest in IPO’ section 1. Under the Invest in IPO section, you will find the ‘View all’ option 1. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab 1. In the ‘IPO’ tab, click on ‘My applications’  1. In ‘My applications’, under the History section, your Sai Silks (Kalamandir) Limited IPO allotment status will be mentioned ## **Open a demat account with Upstox to apply for the Sai Silks (Kalamandir) Limited** **IPO** To apply for the Sai Silks (Kalamandir) Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app. Here is a step-by-step guide on how to open a demat account with Upstox: 1. Click [ **here**](https://upstox.com/open-demat-account/\OpenOpen?landing_page=learning-center/demat-account/demat-account-opening-procedure) to visit the demat account opening page on the Upstox website.  1. Enter your phone number and other essential details to begin opening a demat account. 1. Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed.  1. Complete the e-verification using the OTP sent to your registered mobile number. This is all it takes to open a demat account with Upstox. Easy and quick, right? [ ](https://upstox.com/open-demat-account/\Open\Open) ## **Upstox – trading app to apply for the Sai Silks (Kalamandir) Limited IPO** Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India. You can apply for the Sai Silks (Kalamandir) Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero. In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.

Financial performance (₹ Cr)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   20 Sept 2023

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   22 Sept 2023

   Last day to place your bid

3. Basis of Allotment

   Completed
   22 Sept 2023

   Share allotment finalised

4. Refund Initiation

   Completed
   26 Sept 2023

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   26 Sept 2023

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   27 Sept 2023

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.