24 News Hour-News Matters
24 News Hour-News Matters
  • Home
  • Business
  • Education
  • Entertainment
  • News Update
  • Others
    • Technology
    • Health & Lifestyle
  • Privacy Policy
  1. Home
  2. Business
  3. Sai Silks (Kalamandir) Limited files DRHP with SEBI
Business

Sai Silks (Kalamandir) Limited files DRHP with SEBI

Sai Silks (Kalamandir) Limited (SSKL), one of the largest retailers of ethnic apparel, particularly sarees, in South Indiahas filed a draft red herring prospectus (DRHP) with SEBI for an initial public offering (IPO). The size of the Fresh Issue is up to Rs. 600 crore. The size of Offer for Sale is up to 18,048,440 equity shares.

Hyderbad-based SSKL proposes to utilise the Net Proceeds of the Fresh Issue (Rs. 600 crore) towards Funding capital expenditure towards setting-up of 25 new stores; Funding capital expenditure towards setting-up of two warehouses; Funding working capital requirements of the Company; Repayment or pre-payment, in full or part, of certain borrowings availed by the Company; and General corporate purposes.

The Book Running Lead Managers (BRLMs) to the IPO are MotilalOswal Investment Advisors Limited, Edelweiss Financial Services Limited and HDFC Bank Limited.

The Equity Shares, once offered through the Red Herring Prospectus, are proposed to be listed on BSE and NSE.

SSKL, promoted by NagakanakaDurga Prasad Chalavadi and Jhansi Rani Chalavadi, is one of the largest retailers of ethnic apparel, particularly sarees, in south India in terms of revenues and profit after tax in Fiscal 2019, 2020 and 2021, as per a Technopak Report. Through its four store formats; i.e., Kalamandir, VaraMahalakshmi Silks, Mandir, and KLM Fashion Mall, SSKL offers products to various segments of the market that include premium ethnic fashion, ethnic fashion for middle income and value-fashion. As of May 31, 2022, it operated 46 stores in four major south Indian states, i.e., Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.

Previous post
Next post

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Eureka Forbes onboards Shraddha Kapoor to champion a cleaner, healthier India
  • JEE Advanced 2025: Chapter-Wise High-Weightage Topics and Revision Strategies to Crack the Hardest Engineering Entrance
  • Godrej refrigerators lean on AI and design to elevate consumer experience
  • Rajasthan’s Rising Stars: How the Indus International Tournament is Fueling Grassroots Esports Dreams
  • ISRL SEASON 2 SEES RECORD RE-REGISTRATIONS FROM INTERNATIONAL SUPERCROSS LEGENDS
Latest News
Business

Eureka Forbes onboards Shraddha Kapoor to champion a cleaner, healthier

May 17, 2025
Education

JEE Advanced 2025: Chapter-Wise High-Weightage Topics and Revision Strategies to

May 17, 2025
Business

Godrej refrigerators lean on AI and design to elevate consumer

May 17, 2025
Sports

Rajasthan’s Rising Stars: How the Indus International Tournament is Fueling

May 17, 2025
Copyright © 2025 Qoxag. All Right Reserved.