Sai Silks (Kalamandir) Ltd IPO
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Sai Silks (Kalamandir) Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 540.99 L | ₹ 270.72 L | ₹ 189.35 L | ₹ 684.27 L | BSE | ₹ 1201 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 11 Feb, 13 | 13 Feb, 13 | 200 | ₹ 42,000 | Book Building | TBA |
Sai Silks (Kalamandir) Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Trading |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 27049514 | 0 |
| NII | 0x | 8114854 | 0 |
| Retail | 0x | 18934659 | 0 |
| Employee | 0x | 0 | 0 |
| Total | 0x | 54099027 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Sai Silks (Kalamandir) Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 182.59 | 174.58 | 1,136.12 |
| EBITDA | 230.50 | 215.59 | 138.92 |
| PAT | 100.87 | 97.59 | 57.69 |
| Total Assets | 1,176.76 | 806.03 | 562.52 |
| Share Capital | 29.47 | 24.06 | 24.07 |
| Total Borrowings | 297.42 | 350.40 | 297.66 |
| Operating Activities (Net Cash) | 148.78 | 138.60 | 88.51 |
| Investing Activities (Net Cash) | -2.27 | 0.00 | 0.00 |
| Financing Activities (Net Cash) | 297.42 | 350.40 | 297.66 |
| Net Cashflow | 401.64 | 49.70 | 47.02 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Sai Silks (Kalamandir) Ltd
The Company's business was started as a partnership firm under the name and style of Sai Silks on August 10, 2005 with Nagakanaka Durga Prasad Chalavadi and Jhansi Rani Chalavadi as its partners. Subsequently, Kalyan Srinivas Annam and Subash Chandra Mohan Annam joined the partnership firm on April 1, 2006 and Suchitra Annam, Sowjanya Annam and Venkata Rajesh Annam joined on March 4, 2008. Further, the name of the partnership firm was also changed to Sai Silks (Kalamandir) on March 4, 2008 to incorporate the brand in its name. The partnership firm was subsequently converted into a private limited company and a certificate of incorporation was obtained dated July 3, 2008 under the name and style of 'Sai Silks (Kalamandir) Private Limited' from the Registrar of Companies, Andhra Pradesh at Hyderabad. The Company was further converted into a public limited company pursuant to a special resolution passed by its Shareholders on May 14, 2009 and a fresh certificate of incorporation consequent upon conversion to public limited company was obtained on May 21, 2009 from the Registrar of Companies, Andhra Pradesh. The name of our Company was changed to its present name, 'Sai Silks (Kalamandir) Limited'.
The share of organised apparel retail which was 32% in 2020 is expected to increase to 48% in 2027. The share of organised retail in women's apparel, which was 14% in Fiscal 2015, increased to 31% in Fiscal 2022 and is expected to reach 44% by Fiscal 2028, amounting to Rs. 1,754.44 billion.
The Company is amongst 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. Through our four store formats, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall, the company offers its products to various segments of the market that include premium ethnic fashion, ethnic fashion for middle income and value-fashion. As of July 31, 2023, the company operated 54 stores in four major south Indian states, i.e., Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.
Peer Comparison:
- Vedant Fashions Ltd
- TCNS Clothing Co. Ltd
- Go Fashion (India) Ltd
- Aditya Birla Fashion & Retail Ltd
- Shoppers Stop Ltd
- Trent Ltd
Sai Silks (Kalamandir) Ltd IPO Key Points
Strengths
- Among the leading ethnic and value-fashion retail company in south India having a portfolio of established formats with focused sales and marketing strategy.
- Leading apparel retail brand in India with a scalable model, which is well positioned to leverage growth in the ethnic and value-fashion apparel industry in India.
- Strong presence in offline and online marketplace with an omni-channel network.
- Track record of growth, profitability, and unit economics with an efficient operating model.
- Experienced Promoter, management, and in-house teams with proven execution capabilities.
Risk
- The company business is highly concentrated on the sale of women's sarees and is vulnerable to variations in demand and changes in consumer preference, could have an adverse effect on its business, results of operations and financial condition.
- An inability to effectively market its products, or any deterioration in public perception of the company brands, could affect customer footfall and consequently adversely impact its business, financial condition, cash flows and results of operations.
- Current locations of its stores may become unattractive, and suitable new locations may not be available for a reasonable price or acceptable terms, if at all. In addition, the company is exposed to risks associated with leasing real estate and any adverse developments could materially affect its business, results of operations and financial condition. Further, the company is generated substantially all of its sales from stores located in Southern India and any adverse developments affecting its operations in these regions could have an adverse impact on the company revenue and results of operations.
Strategy
- Expand our footprint within India through owned stores and franchise network by leveraging our brand appeal.
- Increase focus on sale of products through e-commerce.
- Leverage technology to bring cost efficiency and enhance customer experience.
- Among the leading ethnic and value-fashion retail company in south India having a portfolio of established formats with focused sales and marketing strategy.
- Leading apparel retail brand in India with a scalable model, which is well positioned to leverage growth in the ethnic and value-fashion apparel industry in India.
- Strong presence in offline and online marketplace with an omni-channel network.
- Track record of growth, profitability, and unit economics with an efficient operating model.
- Experienced Promoter, management, and in-house teams with proven execution capabilities.
How To Apply for Sai Silks (Kalamandir) Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
