Sai Silks (Kalamandir) IPO had a lukewarm start with only a 5% subscription on the first day. The IPO, valued at Rs 1201 crore, remains open for investment until 22nd September. The company has already raised Rs 360.30 crore from anchor investors.
Subscription details are as follows
Qualified Institution Buyers (QIB)- 0%
Non-Institutional Investors (NII)- 2%
Retail Investors (RII)- 8%
In the gray market, the IPO is currently trading at a Rs 12 premium, suggesting a potential listing price of Rs 234. Investors could secure a 5.41% profit if this projection holds true.
Investors have the opportunity to invest in this IPO within the price band of Rs 210-222 per share, with a lot size of 67 shares. The allotment of shares will be finalized on September 27, with shares set to be listed on BSE and NSE on 4th October.
About Sai Silks (Kalamandir): Established in 2005, Sai Silks (Kalamandir) specializes in selling ethnic clothing and value-fashion products. The company operates over 54 stores across Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu. Over the past three financial years, the company has shown significant improvement in its financial health, with a notable increase in net profit from Rs 42.10 crore in 2020 to Rs 97.59 crore in 2023.