Sai Silks Kalamandir IPO opens today: GMP, review, other key details. Should you subscribe?

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₹210 to ₹222 per equity share of face value of ₹2 each. Sai Silks IPO raised over ₹360 crore from anchor investors on Monday, September 18. Sai Silks Kalamandir IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

Sai Silks IPO lot size is 67 equity shares and in multiples of 67 equity shares thereafter. The company's listed industry peers 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). 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 promoter and promter group.

The company intends to use the net proceeds from the offering to finance capital expenditures for the establishment of 30 additional stores and two warehouses, as well as for working capital needs, debt repayment, and general corporate purposes. Motilal Oswal Investment Advisors Ltd, HDFC Bank Ltd, Nuvama Wealth Management Ltd are the book running lead managers to the offer. Bigshare Services Private Ltd is the offer's registrar.

Reliance Securities Ltd believes that given its high client demands and intricate inventory management, the Indian ethnic wear industry is challenging to replicate. Nowadays, it is fashionable to wear ethnic clothing for occasions and celebrations other than weddings, such as national festivals and other special events. The supply chain and inventory management are system driven and algorithmically handled throughout