Subscribe
24NEWSHOUR 24NEWSHOUR
Write For Us
  • Home
  • Business
  • Education
  • Entertainment
  • Health & Lifestyle
  • News Update
  • Technology
  • Write For US
  1. Home
  2. Business
  3. Sai Silks (Kalamandir) Limited files DRHP with SEBI

Sai Silks (Kalamandir) Limited files DRHP with SEBI

by Ankur Sharma July 26, 2022

Share:

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

Ankur Sharma (Website)

administrator

Leave a Reply Cancel reply

Your email address will not be published.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

Recent Posts

  • L&T Wins (Major*) Contracts for its Hydrocarbon Business
  • Experience an instant and convenient solution for Loan Repayments with Amazon Pay and Bharat BillPay
  • STAR SPORTS UNVEILS AN ELITE PANEL OF DECORATED EXPERTS AND LEGENDS FOR TATA IPL 2023
  • Singapore a preferred Nightlife and Cruise destination for Indian millennials: Tripoto’s young travellers survey
  • Godrej Interio introduces ‘Optimizer Plus’ Office Storage Solution

Categories

  • Business
  • Education
  • Entertainment
  • Health & Lifestyle
  • News Update
  • Sports
  • Technology

Never Miss a Thing

The stories you care about, are delivered daily.

Quick Links

24 News Hours
Advertise
Customer Service
Help

More from 24newshour

Business
Education
Entertainment
[email protected] News Hour

Legal

Terms of Use
Privacy Rights
Privacy Preferences
AdChoices

Connect with us

Get our latest stories in the feed of your favorite networks

Stay in the Know

Sign up for our daily newsletter

24NEWSHOUR 24NEWSHOUR
Copyright 2023. All Right Reserved

Back to top