Hyderabad based SAI Silks (Kalamandir) Limited is entering into primary market with an Initial Public Offering (IPO) of —- Equity Shares of Rs 10 each. The company has filed draft red herring prospectus (DRHP) papers with market regulator Securities and Exchange Board of India (SEBI) for the same. The company is likely to raise around Rs 102 Crore through the issue. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has yet to be decided. The price band would be decided by the company later on. SAI Silks (Kalamandir) is a retailer of sarees in south India. It is majorly in the business of retailing of sarees under the brand name of “Kalamandir” through a network of 12 retail outlets spread across South India.
Promoters of the company are Chalavadi Naga Kanaka Durga Prasad, Annam Kalyan Srinivas, Chalavadi DK Durga Rao and Mrs. Ch. Jhansi Rani.
The proceeds of this fresh issue (Initial Public Offering) will be used for setting up of retail outlets, brand promotion, pre-payment of term loan facility and for working capital requirement.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
IPO Summary :-
IPO Open : –
IPO Type : 100% Book Built Issue IPO
IPO Size : —– Equity Shares of Rs 10 each
IPO Size : Rs 102 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs – Rs Per Equity Share
Minimum Bid Quantity : Shares (Rs. with 1 Lot) @ upper level of price band
Maximum Bid Quantity : Shares (Rs. with Lots ) @ upper level of price band
Listing At : BSE, NSE
The Book running lead managers (BRLM) to the issue are Ashika Capital Limited and Vivro Financial Services Pvt Limited.
Registrar of the Issue : Bigshare Services Pvt. Limited, Mumbai
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