Business
Sai Silks Kalamandir IPO opens today: GMP, review, other key details. Should you subscribe?
The Sai Silks Kalamandir IPO is now open for subscription from Wednesday, September 20, and it will conclude on Friday, September 22. The company has specified a price range of ₹210 to ₹222 per equity share with a face value of ₹2 each. Sai Silks IPO successfully garnered over ₹360 crore from anchor investors on Monday, September 18.
Sai Silks Kalamandir IPO has reserved not more than 50% of the shares for Qualified Institutional Buyers (QIB), at least 15% for Non-Institutional Investors (NII), and a minimum of 35% of the offer is earmarked for Retail Investors.
The lot size for Sai Silks IPO is 67 equity shares, with multiples available thereafter.
Among the listed industry peers of the company are Vedant Fashions Ltd (P/E ratio of 71.29), Go Fashion (India) Ltd (P/E ratio of 87.74), Aditya Birla Fashion and Retail Ltd, Trent Ltd (P/E ratio of 163.76), and Shoppers Stop Ltd (P/E ratio of 69.34).
Prasad Chalavad, Promoter, Founder, and MD of Sai Silks, outlined the company’s future plans during an interview with CNBC-TV18. He mentioned that the company’s strategy involves growing through a cluster model, with a payback period for new stores and inventory estimated at 16-17 months. He also noted that the current debt levels stand at ₹300 crore, and the company intends to repay only ₹50 crore.
Sai Silks Kalamandir IPO Details: The Sai Silks IPO comprises a fresh issuance of ₹600 crore worth of shares and an offer for sale (OFS) of up to 2.70 crore equity shares by the promoter and promoter group.
The net proceeds from the offering will be utilized for capital expenditures related to establishing 30 additional stores and two warehouses, as well as for working capital requirements, debt repayment, and general corporate purposes.
The book running lead managers for the offer are Motilal Oswal Investment Advisors Ltd, HDFC Bank Ltd, and Nuvama Wealth Management Ltd, while Bigshare Services Private Ltd serves as the registrar.
Sai Silks, incorporated in 2005, ranks among South India’s top 10 ethnic clothing retailers in terms of revenue and profit after tax for the fiscal years FY21, FY22, and FY23. The company offers a diverse range of products, including Lehengas, men’s ethnic wear, children’s ethnic wear, as well as fusion wear and western wear for women, men, and children, suitable for various occasions from weddings to daily wear.
Sai Silks Kalamandir IPO Review: Reliance Securities Ltd acknowledges the unique challenges posed by the Indian ethnic wear industry due to high customer demands and complex inventory management. Ethnic clothing has become fashionable not only for weddings but also for national festivals and other special events.
Sai Silks has implemented a system-driven and algorithmic approach to supply chain and inventory management, covering the entire supply and distribution chain, with both in-house production and third-party involvement.
The company aims to enhance brand recall through digital marketing campaigns, brand ambassador content, and outdoor advertising. This positions Sai Silks Kalamandir favorably in the women’s ethnic wear segment, boasting strong margins and returns. The brokerage recommends subscribing to the issue, anticipating consistent growth as the company expands its store network.
According to Dilip Davda, a contributing editor at Chittorgarh.com, Sai Silks has evolved into one of the top 10 retailers in ethnic wear, primarily focusing on sarees, after an unsuccessful attempt at its maiden IPO in February 2013. Despite facing challenges due to the COVID-19 impact until FY22, the company reported promising figures for FY23, indicating future prospects with the addition of new stores. Based on FY23 earnings, the issue appears fully priced, making it a potential investment for informed investors with medium to long-term expectations.
Sai Silks Kalamandir IPO Grey Market Premium (GMP) Today: The Sai Silks IPO GMP today, or grey market premium, is +7, consistent with the previous two trading sessions. This suggests that Sai Silks Kalamandir share prices are trading at a premium of ₹7 in the grey market as of Wednesday, according to topsharebrokers.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price for Sai Silks Kalamandir IPO shares stands at ₹229 apiece, marking a 3.15% increase over the IPO price of ₹222.
Previously, the Sai Silks IPO GMP on Sunday was ₹0, indicating that shares were trading at their issue price of ₹222 with no premium or discount in the grey market, according to topsharebrokers.com.
The ‘grey market premium’ reflects investors’ willingness to pay above the issue price for the shares.
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Unmatched Excellence: Royal Chess Mall – Your Trusted Destination for Premium Chess Sets
Royal Chess Mall stands out as a beacon of excellence in the world of chess, offering unparalleled quality, exceptional service, and a commitment to customer satisfaction. With a 3-year warranty including free replacement, a global customer base of over 50,000 shoppers, and complimentary shipping, Royal Chess Mall has earned its reputation as the go-to destination for chess enthusiasts seeking nothing but the best.
Uncompromising Quality and Craftsmanship: At Royal Chess Mall, quality is non-negotiable. Each chess set is meticulously crafted using the finest materials and exquisite craftsmanship. Whether it’s the rich tones of ebony wood, the classic elegance of rosewood, or the intricate detailing of artisanal designs, every piece exudes luxury and precision. The commitment to exceptional quality ensures that each chess set from Royal Chess Mall is not just a game but a work of art to be cherished and admired.
3-Year Warranty with Free Replacement: What sets Royal Chess Mall apart is its unwavering dedication to customer satisfaction. Every purchase comes with a 3-year warranty, providing peace of mind and assurance of quality. In the rare event of any manufacturing defects or issues, customers enjoy the added benefit of free replacement, exemplifying Royal Chess Mall’s commitment to standing behind its products and ensuring customer delight.
Trusted by 50,000+ Shoppers Worldwide: With a global customer base exceeding 50,000 shoppers, Royal Chess Mall has earned the trust and loyalty of chess enthusiasts worldwide. The brand’s reputation for excellence, reliability, and top-notch customer service has resonated with discerning customers, making Royal Chess Mall the preferred choice for those who demand nothing but the best. From casual players to serious collectors, the diverse community of Royal Chess Mall shoppers speaks volumes about the brand’s widespread appeal and credibility.
Free Shipping for Added Convenience: In addition to exceptional quality and service, Royal Chess Mall goes the extra mile to enhance the customer experience with complimentary shipping. Customers can enjoy the convenience of doorstep delivery without any additional costs, further cementing Royal Chess Mall’s commitment to providing value and convenience to its esteemed clientele.
A Range of Premium Chess Sets: Royal Chess Mall offers a diverse range of premium chess sets to cater to every preference and style. From classic Staunton designs to themed sets inspired by historical figures, landmarks, and cultures, there’s something for every chess aficionado at Royal Chess Mall. Each set is carefully curated to combine aesthetics, functionality, and historical significance, ensuring a unique and captivating chess-playing experience.
Exceptional Customer Service: At Royal Chess Mall, customer satisfaction is paramount. The brand’s dedicated customer service team is committed to providing prompt assistance, answering queries, and addressing concerns to ensure a seamless shopping experience. Whether it’s helping customers choose the perfect chess set or resolving any post-purchase issues, Royal Chess Mall’s customer service goes above and beyond to exceed expectations and build lasting relationships with customers.
Conclusion: Royal Chess Mall continues to redefine the standards of excellence in the world of chess. Whether you’re a seasoned player, a collector, or someone new to the game, Royal Chess Mall welcomes you to experience the finest in chess craftsmanship, service, and passion. Discover the joy of playing chess with Royal Chess Mall and elevate your chess experience to new heights of elegance and sophistication.
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Ways To Get An Instant Personal Loan with Cashe
In today’s fast-paced world, financial emergencies and unexpected expenses can arise at any time, requiring quick access to funds. Instant personal loans offer a convenient solution for individuals seeking immediate financial assistance without the hassle of lengthy approval processes or paperwork. Cashe, a leading digital lending platform, provides seamless and efficient ways to get an instant personal loan.
Online Application Process: Cashe simplifies the loan application process by offering an online platform where borrowers can apply for a personal loan from the comfort of their homes or offices. The online application process is straightforward and user-friendly, requiring basic information such as personal details, employment information, income details, and bank account information. Borrowers can complete the application within minutes, eliminating the need for physical documentation or visits to a bank branch.
Mobile App Convenience: Cashe’s mobile app adds another layer of convenience for borrowers, allowing them to apply for an instant personal loan directly from their smartphones or tablets. The mobile app is available for both Android and iOS devices, providing easy access to loan application features, account management tools, loan status tracking, and customer support. The app’s intuitive interface and secure platform ensure a seamless and efficient loan application experience on the go.
Instant Approval Decision: One of the key benefits of obtaining a personal loan through is the instant approval decision. Once the loan application is submitted online or through the mobile app, Cashe uses advanced algorithms and machine learning technology to assess the borrower’s creditworthiness and financial profile in real-time. This streamlined evaluation process results in instant approval decisions, with many borrowers receiving approval within minutes of submitting their applications.
Flexible Loan Amounts: Cashe offers flexible loan amounts based on the borrower’s eligibility, financial profile, and creditworthiness. Borrowers can apply for personal loans ranging from small amounts to larger sums, depending on their financial needs and repayment capacity. The flexibility in loan amounts allows borrowers to tailor their loan request to meet specific expenses, whether it’s covering urgent medical bills, home repairs, education expenses, or other financial obligations.
Quick Disbursement of Funds: Once a personal loan is approved, Cashe ensures quick disbursement of funds to the borrower’s bank account. The funds are typically disbursed within a few hours of loan approval, enabling borrowers to access the money they need without delay. This speedy disbursal process is particularly beneficial for addressing urgent financial needs and emergencies, providing peace of mind and financial stability during challenging times.
Minimal Documentation Requirements: Cashe reduces the hassle of paperwork and documentation typically associated with traditional loan applications. Borrowers are required to provide minimal documentation, such as identity proof, address proof, income documents, and bank statements. The digital platform allows for electronic verification and submission of documents, further expediting the loan processing and approval process.
Competitive Interest Rates: Cashe offers competitive interest rates on personal loans, making borrowing affordable and cost-effective for borrowers. The interest rates are based on factors such as creditworthiness, loan amount, and repayment tenure. Borrowers can choose repayment tenures that suit their budget and financial goals, with options ranging from a few months to several years.
Conclusion: Cashe provides convenient and efficient ways to get an instant personal loan, making borrowing quick, simple, and accessible for individuals facing financial needs. With an online application process, mobile app convenience, instant approval decisions, flexible loan amounts, quick disbursal of funds, minimal documentation requirements, competitive interest rates, and user-friendly features, Cashe ensures a seamless borrowing experience for borrowers. Whether it’s covering unexpected expenses, managing financial emergencies, or fulfilling personal goals, Cashe’s instant personal loans offer a reliable and trusted solution for addressing immediate financial needs.
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Mayor Abhay Dare Sagar: Champion of Progress and Community Welfare
In the realm of social work and politics, Mayor Abhay Dare stands as a beacon of progress, compassion, and dedicated service. His dual roles as a social worker and politician have made a profound impact on the city of Sagar, with recent recognition from the central government as Sagar joins the prestigious list of 98 smart cities across the country. Let’s delve into the inspiring journey of Mayor Abhay Dare Sagar and celebrate his contributions to the community.
A Visionary Leader for Sagar: Mayor Abhay Dare’s leadership is characterized by a visionary approach that focuses on holistic development and inclusive growth. His vision for Sagar encompasses sustainable urban planning, infrastructure enhancement, economic prosperity, and social welfare initiatives. Under his guidance, Sagar has witnessed transformative changes that have improved the quality of life for residents and positioned the city as a model of progress and innovation.
Commitment to Social Welfare: As a dedicated social worker, Mayor Abhay Dare Sagar has a deep-rooted commitment to improving the lives of marginalized communities and addressing social issues. His initiatives focus on education, healthcare, sanitation, women’s empowerment, and welfare programs for the underprivileged. Through targeted interventions and community engagement, Mayor Abhay Dare Sagar has made a tangible difference in uplifting the disadvantaged and creating a more equitable society in Sagar.
Political Leadership and Governance Excellence: Mayor Abhay Dare’s political leadership is characterized by transparency, accountability, and effective governance. He believes in participatory democracy and works closely with citizens, community leaders, and stakeholders to address local challenges and implement solutions that benefit the entire city. His administration’s focus on infrastructure development, public services, and sustainable practices has garnered praise and support from residents and authorities alike.
Inclusion in the Smart Cities Mission: The inclusion of Sagar in the list of 98 smart cities by the central government is a testament to Mayor Abhay Dare Sagar’s visionary leadership and strategic planning. The Smart Cities Mission aims to transform urban areas into vibrant, sustainable, and technologically advanced hubs that enhance quality of life and economic opportunities. Sagar’s inclusion in this prestigious initiative reflects its progress, potential, and readiness for future growth under Mayor Abhay Dare Sagar’s leadership.
Empowering Youth and Education: Mayor Abhay Dare recognizes the importance of investing in youth and education as drivers of progress and prosperity. His administration has prioritized education reforms, skill development programs, and opportunities for youth empowerment and entrepreneurship. By nurturing talent, fostering innovation, and providing access to quality education, Mayor Abhay Dare Sagar is paving the way for a brighter future for the youth of Sagar.
Environmental Conservation and Sustainability: In alignment with global efforts towards environmental conservation and sustainability, Mayor Abhay Dare Sagar has implemented initiatives to promote green practices, renewable energy adoption, waste management, and conservation of natural resources. His commitment to environmental stewardship ensures that Sagar’s development is balanced and sustainable for future generations.
Conclusion: Mayor Abhay Dare is a social worker and politician who exemplifies dedication, vision, and positive change. His leadership has propelled Sagar towards progress, inclusion, and recognition as a smart city. Through his commitment to social welfare, governance excellence, youth empowerment, environmental sustainability, and strategic planning, Mayor Abhay Dare Sagar has established himself as a trailblazer for Sagar’s prosperity and a role model for aspiring leaders across the nation.
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