Sai Silks Kalamandir IPO: Check Open/Close Date, IPO Price, IPO Size | Espresso


Sai Silks (Kalamandir) Limited IPO opens on September 20. Check IPO Details Issue Date Price

September 18, 2023
Sai Silks (Kalamandir) Limited IPO opens on September 20. Check IPO Details Issue Date Price

Sai Silks (Kalamandir) Limited is coming out with a fresh public issue to raise Rs. 1201 crores from the market.

Below are the details of the Sai Silks (Kalamandir) Limited IPO:

  • Issue opens – September 20 (Wednesday)
  • Issue closes – September 22 (Friday)
  • Issue size – Rs1201 crores
  • Price band – Rs. 210 to Rs. 222 per equity share
  • Bid lot – 67 shares and in multiples thereof.

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And here are some details of the company and further details on the Sai Silks (Kalamandir) Limited IPO.

Company details:

  • Sai Silks (Kalamandir) Limited are 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. (Source: Technopak Report) Through their four store formats, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir and KLM Fashion Mall, they offer their products to various segments of the market that include premium ethnic fashion, ethnic fashion for middle income and value-fashion, with a variety of products across different price points, thereby catering to customers across all market segments. They  leverage their store network of 54 stores as of July 31, 2023, to focus on spreading India’s vibrant culture, traditions and heritage by offering a diverse range of products which includes various types of ultra-premium and premium sarees suitable for weddings, party wear, as well as occasional and daily wear; lehengas, men’s ethnic wear, children’s ethnic wear and value fashion products comprising fusion wear and western wear for women, men and children.
  • They commenced operations through their first ‘Kalamandir’ store in 2005 at Hyderabad, Telangana with a store size of 3,213 square feet and have over the years expanded to 54 stores in four south Indian states, i.e., Andhra Pradesh, Telangana, Karnataka and Tamil Nadu, with an aggregate area of approximately 603,414 square feet, as of July 31, 2023. As of July 31, 2023, their average store size, calculated on the basis of their operating stores, is 10,390 square feet for their Kalamandir format stores, 3,310 square feet for our Mandir format stores, 6,099 square feet for their VaraMahalakshmi format stores, and 18,400 square feet for their KLM Fashion Mall format stores.
  • Their ethnic wear and value-fashion products are available through their stores under four different format stores, i.e., Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall, as well as through e-commerce channels comprising their own website and other online e-commerce marketplaces.

Issue Size:

Rs. 1201 crores

Issue break-up:

  • QIB – 50% of the offer – Rs. 600.50 crores
  • NIB – 15% of the offer – Rs. 180.15 crores
  • RET – 35% of the offer – Rs. 420.35 crores




Bigshare Services Private Limited


All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.


  • Application made using third party UPI or ASBA Bank A/c are liable to be rejected. 
  • The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e. Friday, September 22, 2023     

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