Sai Silk (Kalamandir) Ltd IPO open for Subscription on Feb. 11, 2013 and close on Feb. 13, 2013. This IPO provide Safty Net Scheme for Retail Investor. Price Band of Issue 70 to 75 , Bid lot 200 each.
Recommendation : Apply for this IPO. If Rate goes down then you can surrender your Share to Promoters. Take benefit from Safety Net Mechanism. It’s win win situation, It’s a risk free investment (for six months) nothing to loose any money, Your capital is secure.
[wptabs style=”wpui-blue” mode=”horizontal”] [wptabtitle] Overview[/wptabtitle] [wptabcontent]
Business Overview
Sail Silk Ltd is majorly in business of retailing of sarees under brand name of “KALAMANDIR” , “MANDIR” & ” VARAMAHALAKSHMI”. The company started as a retailer of sarees in Hyderabad in Aug., 2005. As on date they operate 15 retail outlet across south India. The company is presently engaged in retail offering of the following products to all the segments :
- Sarees
- Women Dress Materials & Readymades
- Men’s Wear
- Kid’s Wear
- Gold Jewellery & Silver articles
Object of Issue
The object of Issue are as follows
- Setting up of Retail Outlets
- Expenses to be incurred for Brand promotion
- Pre-payment of Term loan facility
- Meeting long-term loan facility
- Meeting long-term working capital Requirement
Safty Net Scheme
Under Safty Net Scheme, if the market value of the shares falls below the issue price at any time during the Scheme period, promoters would buyback shares at the sale price from original investor. The promoters of the issuer company have provided Safty Net Mechanism, under which they have offer to purchase up to a maximum 1000 shares per Original Resident Retail Individual Allottees at the issue price within a period of 6 months from the date of allotment in case the market price of share falls below the issue price. [/wptabcontent]
[wptabtitle] Issue Details[/wptabtitle] [wptabcontent]
| Issue Open | Monday 11 Feb, 2013 |
| Issue Close | Wednesday 13 Feb, 2013 |
| Issue Size | 89 Cr. |
| Price Band | Rs. 70 - Rs. 75 |
| Bid Lot | 200 Equity Shares |
| Cheque in Favour of (Retail Investor) | SKKL - Escrow Account - R |
| Registrar of Issue | Bigshare Services Pvt. Ltd |
| IPO Grade | Grade 2 by ICRA (Indicate below average Fundamental) |
Bankers : HDFC Bank , ICICI Bank, SBI
| No. of Shares | Price per Share | Cheque Amount (Rs) |
|---|---|---|
| No. of Shares | Price per Share | Cheque Amount (Rs) |
| 200 | 75 | 15000 |
| 400 | 75 | 30000 |
| 600 | 75 | 45000 |
| 800 | 75 | 60000 |
| 1000 | 75 | 75000 |
| 1200 | 75 | 90000 |
| 1400 | 75 | 105000 |
| 1600 | 75 | 1,20,000 |
| 1800 | 75 | 1,35,000 |
| 2000 | 75 | 1,50,000 |
| 2200 | 75 | 1,65,000 |
| 2400 | 75 | 1,80,000 |
| 2600 | 75 | 1,95,000 |
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[wptabtitle] Subscription Data[/wptabtitle] [wptabcontent]
| Category | No Share Offer | No of Share Bid for | No of time subscribe |
|---|---|---|---|
| 13 FEB 2013 | |||
| I - QIB | 12,71,420 | 0 | 0 |
| II- Non Inst. Investor | 44,49,970 | 19,30,800 | 0.43 |
| III - Retail Investor | 69,92,810 | 91,45,000 | 1.31 |
| Total | 1,27,14,200 | 91,45,000 | 0.87 |
| 12 FEB 2013 | |||
| I - QIB | 12,71,420 | 00 | 00 |
| II - Non Insti. Investor | 44,49,970 | 36,400 | 0.01 |
| III- Retail Investor | 69,92,810 | 75,57,800 | 1.08 |
| Total | 1,27,14,200 | 75,94,200 | 0.60 |
| 11 FEB 2013 | |||
| I - QIB | 12,71,420 | 0 | 0 |
| II - Non Insti. Investor | 44,49,970 | 0 | 0 |
| III - Retail Investor | 69,92,810 | 63,64,000 | 0.91 |
| Total | 1,27,14,200 | 63,64,000 | 0.50 |
[wptabtitle] Allotment Listing[/wptabtitle] [wptabcontent]
Registrar of Issue : Bigshare Services Pvt Ltd
Listing : NSE & BSE
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