Sai Silks IPO GMP, info ,Price , Date 2023

 

Sai Silks ipo Review: Sai Silks is coming up with its Initial Public Offering

Sai Silks IPO
Sai Silks IPO

Sai Silks IPO- About The Company

 

Sai Silks (Kalamandir) Limited is one of the largest retailers of ethnic apparel, particularly sarees, in south India.

The company 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 May 31, 2022, the company has over 46 stores in four south Indian states namely Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu, 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.

The company also offers its products through e-commerce channels which comprises its website sskl.co.in and other online e-commerce marketplaces.

 

Sai Silks IPO- industry overview 

 

Apparel market size in FY 2020 was INR 4,47,666 Cr (US$ 59.7 Bn) and expected to grow at a CAGR of ~8.9% between FY 2020 and FY 2025 to reach INR 6,87,263 Cr (US$ 91.6 Bn) by FY 2025 on the back of factors like higher brand consciousness, increasing digitization, greater purchasing power and increasing urbanization. While the apparel market has degrown by ~32% to reach a value of INR 3,06,225 (US$ 40.8 Bn) in FY 2021 due to negative impact of COVID-19 pandemic, the market is expected to recover at a higher pace of 22.4% between FY 2022 and FY 2025. While the CAGR of total apparel market between FY 2020 and FY 2025 is expected to be ~8.9%, the branded apparel and organized apparel retail are expected to grow at CAGR of ~10% and ~11% respectively in the same period. In other words, growth of both branded apparel share and organized apparel retail share in apparel category will outpace the overall category growth. COVID-19 gave impetus to the growth of e-commerce which is expected to become a significant growth driver for the organised market. 

India has the youngest population in comparison to other leading economies. The median age in India was estimated to be 28.1 years in CY 2021 as compared to 38.1 and 37.4 in the United States and China, respectively, and is expected to remain under 30 years until 2030. Younger population is naturally pre-disposed to adopting new trends and exploration given their educational profile and their exposure to media and technology, which presents an opportunity for domestic consumption in the form of branded products and organized retail.

 

Object Of The Issue

 

  •  Funding capital expenditure towards setting-up of 25 new stores (“New Stores”); 
  • Funding capital expenditure towards setting-up of two warehouses;
  • Funding working capital requirements of our Company; 
  •  Repayment or pre-payment, in full or part, of certain borrowings availed by our Company; and 
  •  General corporate purposes.

Sai Silks ipo- Financial

 

  FY 2020 FY 2021 FY 2022 FY 2023
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 96.67
Margin (%) 3.58 0.80 5.11 7.15

Figures in INR cr 

Sai Silks (Kalamandir) Valuations & Margins

 

FY 2020 FY 2021 FY 2022 FY 2023
EPS 3.59 0.43 4.79 8.11
PE ratio 25.89 – 27.37
RONW (%) 18.18 2.11 19.19 24.56
NAV 24.99 33.02
ROCE (%) 24.39 8.51 21.71 23.55
EBITDA (%) 8.82 9.21 11.78 9.21
Debt/Equity 0.71 0.89 0.87 0.89

 

Sai Silks (Kalamandir) IPO Peer Comparison

 

S. No. Face Value Company Name PE
1 1 Vedant Fashions Limited 71.29
2 2 TCNS Clothing Co. Limited
3 10 Go Fashion (India) Limited 87.74
4 10 Aditya Birla Fashion and Retail Limited
5 5 Shoppers Stop Limited 69.34
6 1 Trent Limited 163.76

 

Sai Silks ipo – strengths 

 

  •  Among the leading ethnic wear 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

Sai Silks 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 (lot size) 67 shares

INR 14,874

Face Value  INR 2 per share
Retail Allocation 35%
Listing On BSE, NSE

 

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Sai Silks IPO Dates & schedule 

 

Sai Silks IPO Opening Date 20 September 2023
Sai Silks IPO Closing Date 22 September 2023
Finalization of Basis of Allotment 27 September 2023
Initiation of refunds 29 September 2023
Transfer of shares to demat accounts 3 October 2023
Sai Silks IPO Listing Date 4 October 2023

 

Sai Silks IPO GMP Today

Date Ipo gmp  Kostak Subject to Sauda
Coming soon

Sai Silks IPO Allotment Status

Click on this link to get allotment status.

 

Sai Silks (Kalamandir) IPO – Lots Size & Price

 

Application Lots Shares Amount
Retail (Min) 1 67 14,874
Retail (Max) 13 871 1,93,362
S-HNI (Min) 14 938 2,08,236
S-HNI (Max) 67 4489 9,96,558
B-HNI (Min) 68 4556 10,11,432

 

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