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Sai Silks IPO

Sai Silks (Kalamandir), a 2005 incorporation, provides a variety of ultra-premium and premium sarees appropriate for weddings, parties, occasional and daily wear, lehengas, men’s ethnic wear, children’s ethnic wear, and value fashion items that include fusion wear and western wear for women, men, and kids.

Sai Silks has four different format stores:

  • Kalamandir:Here it offers contemporary ethnic fashion for the middle income, this includes varieties of sarees, such as Tusser, Silk, Kota, Kora, Khadi, Georgette, Cotton, and Matka.
  • VaraMahalakshmi Silks:Here it offers premium ethnic silk sarees and handlooms targeting wedding and occasional wear, such as Banarasi, Patola, Kota, Kanchipuram, Paithani, and Organza, Kuppadam, with a focus on handlooms such as Kacheepuram silk sarees.
  • Mandir:Here it offers ultra-premium designer sarees targeting high net worth individuals, such as designer sarees such as Banarasi, Patola, Ikat, Kanchipuram, Paithani, Organza, and Kuppadam.
  • KLM Fashion Mall:Here it offers value fashion at affordable price points, such as fusion wear, sarees for daily wear, and western wear for women, men, and children.

 

As of 31 May 2022, the company has over 46 stores in four south Indian states namely Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, with an aggregate area of 550,815 square feet. The company recorded INR 1,129.32 crore, INR 677.25 crore, and INR 1,175.56 crore in revenue from operations in the FY 2022, 2021, and 2020 respectively. The EBITDA has increased from INR 103.71 crore in FY 2020 to INR 133.05 crore in FY 2022, while the EBITDA Margin has increased from 8.82% in FY 2020 to 11.78% in FY 2022.

Sai Silks (Kalamandir) IPO Details

Signature Global IPO Details
Sai Silks IPO Dates
20 – 22 September 2023
Sai Silks IPO Price
INR 210 – 222 per share
Fresh issue
INR 600 crore
Offer For Sale
27,072,000 shares INR 568.51 – 601 crore
Total IPO Size
INR 1,168.51 – 1,201 crore
Minimum bid (size)
67 shares INR 14,874
Face Value
INR 2 per share
Retail Allocation
35%
Listing On
BSE, NSE

Sai Silks (Kalamandir) Financial Performance

Signature Global Financial Performance

FY 20

FY21

FY22

FY23

Revenue

1,175.56

677.25

1,129.32

1,351.46

Expenses

1,125.24

671.79

1,055.73

1,225.35

Net income

42.12

5.39

57.67

(338.96)

Margin (%)

3.58

0.80

5.11

7.15

Figures in INR Crore unless specified otherwise

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