Sai Silks (Kalamandir) Limited IPO Review, Date, Price, GMP

Sai Silks (Kalamandir) Limited Incorporated in 2005, is one of the largest retailers of ethnic clothing in South India and operates through four different store formats: 

• Kalamandir
• VaraMahalakshmi Silks
• Mandir
• KLM Fashion Mall

Sai Silks (Kalamandir) Limited delivers its products to various market segments, offering a wide range of products across different price points. Their network includes 46 stores as of May 31, 2022, and their main aim is to promote India’s rich culture, traditions, and heritage by providing diverse offerings.

Sai Silks (Kalamandir) Limited’s product range includes ultra-premium and premium sarees suitable for weddings, parties, and occasional, and daily wear. They also offer lehengas, men’s ethnic wear, children’s ethnic wear, and value fashion products, including fusion wear and western wear for women, men, and children.

The founders of Sai Silks (Kalamandir) Limited identified a market gap and began operations in 2005. Since then, they have developed one of the most diverse portfolios of saree SKUs among Indian women’s apparel businesses, operating big retail shops that provide a diverse range of ethnic wear alternatives at various price ranges. 

Nagakanaka Durga Prasad Chalavadi, a first-generation entrepreneur, founded Sai Silks (Kalamandir) Limited in 2005 with the launch of the first ‘Kalamandir’ store in Hyderabad, Telangana. The company has currently 46 outlets in four South Indian states: 

1)Andhra Pradesh, 

2)Telangana,

3)Karnataka, and 

4)Tamil Nadu.

Sai Silks (Kalamandir) Limited offers its ethnic wear and value-fashion products through four different store formats:

– Kalamandir: Under this format, the company offers a variety of sarees which include Tusser, Silk, Kota, Kora, Khadi, Georgette, Cotton, and Matka, with prices ranging from approximately ₹1,000 to ₹100,000.

– VaraMahalakshmi Silks: This Format Focuses on premium sarees such as Banarasi, Patola, Kota, Kanchipuram, Paithani, Organza, and Kuppadam, with a major emphasis on handlooms like Kanchipuram silk sarees. Prices range from ₹4,000 to ₹250,000 approximately.

– Mandir: Offers ultra-premium designer sarees, including Banarasi, Patola, Ikat, Kanchipuram, Paithani, Organza, and Kuppadam, with prices ranging from approximately ₹6,000 to ₹350,000.

– KLM Fashion Mall: Provides value fashion products which include fusion wear, daily wear sarees, and western wear for women, men, and children, with prices ranging from approximately ₹200 to ₹75,000.

Additionally, these products are available through various e-commerce channels, including their official website and other online e-commerce marketplaces.

Sai Silks (Kalamandir) Limited IPO Complete Details:

Sai Silks (Kalamandir) Limited IPO Timetable:

Company Financial Details:

AS OF NOW, the GMP OF Sai Silks (Kalamandir) Limited is Around 07 Rs.

Objects Of Issue:

1. Financing the capital expenditure needed for establishing 25 new stores.
2. Financing the capital expenditure required for establishing two warehouses.
3. Meeting the working capital needs of the company.
4. Repaying or making partial or full prepayments towards specific borrowings obtained by the company.
5. Addressing general corporate requirements.

Promoters and Group:

Nagakanaka Durga Prasad Chalavadi:

• Age: Not specified
• Education: Holds a bachelor’s degree in commerce from Nagarjuna University and a master’s degree in Business Administration from the Institute of Management Education, Pune. Also possesses a postgraduate diploma in computer applications from the Institute of Computer Software Sciences.
• Professional Background: With over 16 years of experience in the retail sector, Mr. Chalavadi has been an integral part of the company since its inception. He was one of the partners in the former partnership firm ‘Sai Silks,’ which has since evolved into the present company. His responsibilities encompass overall management, financial oversight, internal controls, and security systems.

Jhansi Rani Chalavadi:

• Age: 53 years
• Education: Holds a bachelor’s degree in commerce from Nagarjuna University, Andhra Pradesh.
• Professional Background: With 16 years of experience, Mrs. Jhansi Rani Chalavadi serves as one of the company’s Promoters. She plays a vital role in business operations, which include retail, marketing and sales, administration, and human resources, contributing significantly to the company’s success.

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