Sai Silks IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Sai Silks

CMP

174.70

-2.40 (-1.36%)

  • DRHP
₹222

Offer Price

₹ 89.00 Cr

Issue Size

₹ 14,874

Min Investment

4.40x

Times Subscribed

67

Lot size

Time Line

  • 20
    Sep 2023
    Open
  • 22
    Sep 2023
    Close
  • 25
    Sep 2023
    Finalisation of Basis of Allotment
  • 26
    Sep 2023
    Initiation of Refunds
  • 26
    Sep 2023
    Transfer of Shares to Demat Account
  • 27
    Sep 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Expand our footprint within India through owned stores and franchise network by leveraging our brand appeal.

  • Increase focus on sale of products through e-commerce.

  • Leverage technology to bring cost efficiency and enhance customer experience.

Strengths

  • Among the leading ethnic 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.

Risks

  • The company business is highly concentrated on the sale of women`s sarees and is vulnerable to variations in demand and changes in consumer preference, could have an adverse effect on its business, results of operations and financial condition.

  • An inability to effectively market its products, or any deterioration in public perception of the company brands, could affect customer footfall and consequently adversely impact its business, financial condition, cash flows and results of operations.

  • Current locations of its stores may become unattractive, and suitable new locations may not be available for a reasonable price or acceptable terms, if at all. In addition, the company is exposed to risks associated with leasing real estate and any adverse developments could materially affect its business, results of operations and financial condition. Further, the company is generated substantially all of its sales from stores located in Southern India and any adverse developments affecting its operations in these regions could have an adverse impact on the company revenue and results of operations.

  • The current and continuing impact of the ongoing COVID-19 pandemic on its business and operations has been significant. The impact of the pandemic on its operations in the future, including its effect on the ability or desire of customers to visit the company stores, is uncertain and may be significant and continue to have an adverse effect on its business prospects, strategies, business, operations, the company future financial performance, and the price of its Equity Shares.

  • The Proforma Financial Statements included in this Draft Red Herring Prospectus are not indicative of its future financial condition or results of operations.

Company Promoters

Promoters Holding

Issue For IPO
15.24%
Pre Holding

54.16%

Post Holding

38.92%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 1,129.32 (66.80%) 1,351.47 (19.70%) 24.56 (-)
Gross Profit 1,129.32 (66.80%) 1,351.47 (19.70%) 24.56 (-)
Net Income 1,129.32 (66.80%) 1,351.47 (19.70%) 24.56 (-)
Assets 1,129.32 (66.80%) 1,351.47 (19.70%) 24.56 (-)
Liabilities 1,129.32 (66.80%) 1,351.47 (19.70%) 24.56 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Sai Silks (Kalamandir) Ltd 1,351.47 97.59 930.58 533.24 24.56 0.00 33.02 2.77 0.57
Vedant Fashions Ltd 1,354.93 429.11 2,166.02 2,166.02 30.65 17.68 57.66 19.81 0.00
TCNS Clothing Co. Ltd 1,201.59 -17.55 1,486.28 1,486.28 -2.86 2.75 99.10 -1.18 0.06
Go Fashion (India) Ltd 665.28 82.80 926.34 926.34 15.90 15.33 96.36 8.93 0.00
Aditya Birla Fashion & Retail Ltd 12,417.90 -36.00 17,041.28 17,041.28 -1.07 -0.38 35.26 -0.21 0.69
Shoppers Stop Ltd 4,022.13 116.01 4,603.44 4,603.44 56.36 10.51 18.77 2.52 0.61
Trent Ltd 8,242.02 444.69 8,081.53 8,081.53 17.13 12.51 74.91 5.50 0.19

Book Running Managers

  • Motilal Oswal Investment Advisors Ltd
  • Nuvama Wealth Management Ltd
  • HDFC Bank Ltd

Registrar & Transfer Agent

Bigshare Services Pvt Ltd

Office No 56-2,
Pinnacle Busine.Park,
Mahakali Caves Road - Mumbai - 400093
Phone : 91-22-62638200 Fax: 91-22-63638299

Company Contact Information

6-3-790/8 Flat No 1,
Bathina Apartments Ameerpet,
Hyderabad - 500016
Phone : +91-40-6656 6555 Email : secretarial@sskl.co.in www.sskl.co.in

Offer Related Information

Initial public offering of 5,40,99,027^ equity shares of face value of Rs. 2 each ("Equity Share") of Sai Silks (Kalamandir) Limited (The "Company" or the "Issuer") for cash at a price of Rs. 222 per equity share including a share premium of Rs. 220 per equity share (the "Offer Price") aggregating to Rs. 1201.00^ crores (the "Offer"). The offer comprised of a fresh issue of 27,027,027^ equity shares by the company aggregating to Rs. 600.00^ crores (the "Fresh Issue") and an offer for sale of... More

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