Tag: IPO – News .Sai Silks (Kalamandir)

Sai Silks Kalamandir's IPO subscribed just 7% on the first day of bidding, with retail investors and high net-worth individuals showing decent support, but qualified institutional buyers (QIBs) being lukewarm. The company aims to raise Rs 1,201 crore through its public issue, comprising a fresh issue of Rs 600 crore and an offer-for-sale (OFS) of Rs 601 crore by the promoter group. The price band for the offer has been fixed at Rs 210-222 per share. The net fresh issue proceeds will be used mainly for setting up new stores, building warehouses and working capital requirements. The company has a network of 54 outlets in Andhra Pradesh, Telangana, Karnataka and Tamil Nadu.