Sai Silks Kalamandir Ltd Plans INR89 Crore (INR890 million) Public Issue-CNBC-TV18
CNBC-TV18 reported that Sai Silks Kalamandir Ltd will be making a debut in the capital market with an Initial Public Offering (IPO) to raise INR89 crore (INR890 million). The Company, which has a retail chain of women's, kids and men’s wear, has filed a red-herring prospectus with the SEBI for the IPO. The promoter group of the Company includes Chalavadi Naga Kanaka Durga Prasad, Chalavadi Jhansi Rani and their immediate relatives. The issue is being made through the 100% book-building process, with 10% of the issue to be allocated on a proportionate basis to qualified institutional buyers and not less than 55% for retail investors. The shares are proposed to be listed on the BSE and the NSE. The book running lead managers to the issue are Ashika Capital and Vivro Financial Services.
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