Sai Silks IPO subscribed 4.40 times on last day of bidding
Sai Silks IPO: The Rs 1,201 crore-initial share sale received bids for 16,94,58,544 shares against 3,84,86,309 shares on offer, according to data available with the NSE.
Sai Silks IPO: The Initial Public Offering (IPO) of ethnic apparel retailer Sai Silks (Kalamandir) was subscribed 4.40 times on the last day of bidding on Friday. The Rs 1,201 crore-initial share sale received bids for 16,94,58,544 shares against 3,84,86,309 shares on offer, according to data available with the NSE.
The quota for Qualified Institutional Buyers (QIBs) received 12.35 times subscription while the quota for non-institutional investors was subscribed 2.47 times. The category for Retail Individual Investors (RIIs) was subscribed 88 per cent.
The public issue had a fresh issue of up to Rs 600 crore and an offer for sale of up to 2.70 crore equity shares.
Price range for the offer was Rs 210-222 a share.
The IPO of Sai Silks (Kalamandir) was subscribed 33 per cent on the second day of offer on Thursday.
On Monday, Sai Silks said it has raised over Rs 360 crore from anchor investors.
The Hyderabad-based company was founded by Prasad Chalavadi, a techie turned entrepreneur in 2005.
It has four store formats -- Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall.
As of July 31, 2023, the company had a network of 54 stores in four major south Indian states -- Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.
The equity shares of the company will be listed on the BSE and NSE.
Motilal Oswal Investment Advisors, HDFC Bank and Nuvama Wealth Management were the managers to the offer.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
11:03 AM IST